LONDON -- The half day in the U.S. clearly left the London markets without any clear direction.
ended up 157.7 points, or 2.5%, at 6,470.4, half of that rise came by courtesy of a 26p, or 9.7%, gain to 293 ($4.45) in
. There were no secrets behind the gain: this stock has been battered down from its high of just under 400p and was due a bounce.
Total volume in London was naturally compromised by the pre-holiday situation, leaving individual stocks to make most of the running.
We have already mentioned the effect that Vodafone had on the Footsie index, but other telecom constituents were also strong contributors to the rise.
shrugged off recent criticism by the U.K. regulator and jumped 46p, or 5.4%, to 900, and
registered a gain of 200p, or 9.1%, to
Financial stocks, however, did not fare so well. There is always a bit of uncertainty ahead of any
Bank of England
Monetary Policy Committee meeting, there being one this week, although most analysts expect rates to be left unchanged. However, there are no prizes for being a hero and getting it wrong, and with discretion remaining the better part of valor, a certain amount of switching out of financial stocks left
Royal Bank of Scotland
down 18p, or 1.6%, at
39p lower, or 6.5%, at 595.
The Techmark managed a gain of 37.0 point, of 2.5%, to 3,428.1, with
rising 77p, or 2.0%, to
up 7p, or 1.0%, to 715.
Most of Europe's other major stock markets also closed higher, with the
in Paris ending up 61.9, or 1.0%, at 6,508.5. Late in the German session, the
in Frankfurt was up 47.8, or 0.7% at 6,946.0 and the Neuer Markt's tech-heavy
index was up 131.6, or 2.2%, at 6,072.8.
was down 1.22 euros, or 2.0%, at 58.58, amid more reports over the weekend that the former state-controlled monopoly has initiated talks with
about a merger.
closed up 2.50 euros, or 1.7%, at 148.90 and
ended 1.00 euro higher, or 4.4%, at 23.50.
Most blue-chip German tech shares were up, with
climbing 8.26 euros, or 7.9%, in a technical correction to 112.75 ($107.31) and
up 2.25 euros, or 1.2%, at 195.95.
was up 3.62 euros, or 2.3%, at 161.62, however, its subsidiary
was down 4.85 euros, or 5.9%, at 77.70, after Siemens issued a 2-billion euro convertible bond for its stock.
climbed 2.61 euros, or 7.1%, to 39.60 amid reports the U.K.'s
was considering a bid for the company's Real hypermarket chain.
fell 0.94 euros, or 2.5%, to 36.60 and
dropped 0.99 euros, or 2.3%, to 42.11, amid a lack of news over progress towards a merger.