LONDON -- European markets went into the holiday weekend in fine fettle despite the travails of Wall Street.

In London, the

FTSE 100

closed up 148.1 point, or 2.4%, to 6,327.4 and the


ended up 169.2 points, or 4.6%, to 3,669.9.

Vodafone AirTouch

(VOD) - Get Report

moved up 15p, or 5.5%, to 294 ($4.65) , accounting for around a quarter of the Footsie's rise on its own. Other telecoms did well, with



up 216p, or 7.3% to


British Telecom


up 19p, or 1.7%, to

11.51 and

Kingston Communications

up 72p, or 9.9%, to 803.

In techs,

ARM Holdings


climbed 82p, or 14.3%, to 655,

Baltimore Technologies


jumped 837p, or 14.9%, to

64.63, and


rose 497p, or 26.4%, to

23.85 after reporting a 48% rise in first-quarter profits.

London Bridge Software

rose 350p, or 11.7%, to

33.50 after announcing a partnership with

Sema Group

, which will allow Sema to market London Bridge's Debt Manager collections and recoveries product. Sema rose 60p, or 6.2%, to


Media stocks remained well bid, with


up 157p, or 7.6%, to

22.11 and



up 106p, or 10.2%, to


The Continent's markets also closed out the week well. The

Xetra Dax

in Frankfurt closed up 192.9, or 2.7% at 7,414.7, and the

CAC 40

in Paris ended up 171.9, or 2.8%, at 6,419.7.

It was a similar story to the U.K., with technology and telecom stocks rising strongly.



ended up 11.40 euros, or 7.5%, at 163.00 and


(EPC) - Get Report

was up 3.50 euros, or 2.3%, at 155.00.

In telecoms,

Deutsche Telekom

(DT) - Get Report

, down 6.1% on Thursday, closed up 1.74 euros, or 2.5%, at 71.39 ($64.96),

France Telecom


was up 5.00 euros, or 3.1%, at 167.00 and


(TEF) - Get Report

was up 0.50 euros, or 2.1%, at 24.65.