LONDON -- London trading on Friday was a case of inertia, indifference and unsubstantiated bid rumors. The
pared an initial loss of 46 points into a loss of just 22.3 points to close at 6,391.5, while the
index of leading technology shares did little more than tread water to end 18.2 points down at 3,442.1.
didn't do too well on the back of an official denial the company has received no approaches to top the $20 billion merger with
. It's price dipped 28p to 630.5 ($9.54). However, for those of you willing to chew tranquilizers all weekend, the latest rumor is that
may be considering its options. We just report what we hear.
ended 9.5p higher at 427 on news that the super jumbo jet project from
looks to be a runner, or even a flyer. Consortium partner
in Paris fell 0.49 euros, or 2.1%, to 23 ($21.55).
Geo Interactive Media
provided movement and reasonable volume, rising 77.5p to
14.00, but there were few other strong runners to mention. Media stocks were mainly confined to a narrow range, with
the notable exception, rising 63p to
Telecom stocks assumed
persona non grata
status, with Footsie heavyweight
crashing 13p to 295, without which the Footsie would have ended up on the day.
closed 40p lower at
turned out to be another non-star performer, losing 41p to 413 on a reduction in sales growth projections, and worries that earnings released on August 4 will fail to meet market expectations.
continued to confound the normal laws of market logic. After announcing recently that it is in bid talks with an as yet unnamed party, we heard today that
of France is taking a look at its UK rival, but declined to confirm that the two companies are actually in talks. Eidos celebrated with a loss of 23p to 472. There's no pleasing some people.
Europe's other major stock markets ended mixed Friday, with the
in Paris closing up 70.5, or 1.1%, at 6,545.4. Late in the German trading session the
in Frankfurt was down 37.4, or 0.5%, at 7,016.3 and the Neuer Markt's tech-heavy
index was off 116.6, or 1.8%, at 6,262.4.
German blue-chip tech shares had mixed results with software maker
down 12.00 euros, or 1.9%, at 622.00,
up 2.30 euros, or 1.5%, at 160.60, and
4.40 euros lower, or 3.5%, at 122.60.
rose 0.62 euros, or 1.1%, to 55.97 after a report by
The Financial Times
said the company was taking a 10% stake in Korean carmaker
. In contrast,
was down 0.28 euros, or 0.7%, to 39.25.
In Paris, food group
closed up 0.10 euros, or 0.1%, at 133.80 and telecoms equipment maker
dropped 1.00 euros, or 1.4%, to 71.50.
Major European telcos also had a mixed day, with
closing near unchanged at 21.16 euros,
ending up 3.50 euros, or 2.2%, at 160.50 and
0.56 euros lower, or 0.9%, at 63.53.