LONDON -- European investors were quick to take advantage of the brighter outlook from across the Atlantic and the markets managed to recoup the early losses.
ended up 145.3 points, or 2.4%, to 6,245.9, while the
-- down 77.6 points, or 2.2%, to 3,396 -- showed that perhaps it will take a little longer before those with burnt fingers from recent sessions start to play with matches again.
By the close, it was a very different leader board to the one that greeted investors first thing this morning. Telecom stocks initially showed some shocking losses but some managed to recover toward the close.
climbed 44p, or 4.8%, to 966 ($14.49) after announcing plans for a substantial expansion of its pan-European communications network, and
finally found the accelerator after a wretched couple of weeks and moved up 15.5p, or 6.1%, to 270.5.
Cable & Wireless
reversed an early loss to show a gain of 33p, 3.7%, 934. However,
received a thumbs down from investors, despite what looked to be encouraging first-quarter figures, and lost 245p, or 9.8%, to
Media stocks were another mixed bag.
attracted fresh support and rose 88p, or 8.6%, to
reversed an opening 49p gain to end with a loss of 75p, or 3.7%, to
lost 36p, or 2.7%, to
12.98, suffering as a result of worries about future costs and TV rights for
In tech stocks
led the good guys higher with a gain of 500p, or 15.9%, to
36.50, followed closely by
up 139p, or 2.2%, at
63.39, having been down 400p at one stage.
headed the losers, shedding 150p, or 9.0%, to
fell 105p, or 8.1%, to
Outside the TMT triad,
rose 30p, or 5.4%, to 584 after announcing positive first-quarter profits and a jump in sales figures, and
moved up 30p, or 5.7%, to 558 on continued speculation about a possible U.S. suitor.
finished 22p higher, or 6.2%, at 381 after announcing that it is to form Europe's first online travel agency with 10 other major airlines.
reacted badly to the news and slipped 7.5p, or 3.7%, to 197.5.
rose 21p, or 5.1%, to 424.5, supported by positive comment in the wake of recent first-quarter results.
Europe's other stock markets also managed to recoup the earlier losses as technology and telecoms stocks took heart from Wall Street's performance. The
in Frankfurt closed up 138.6, or 2.0%, at 7259.5 and the
in Paris ended up 116.8, or 1.9%, at 6380.1.
Early losers that managed to finish higher included
up 2.00 euros, or 1.3%, at 154.50 ($139.05), and
up 2.20 euros, or 4.0%, at 57.75.