LONDON -- London shares got off to a flying start Thursday morning, helped by the rises on the
overnight. "There are no prizes for taking too many chances. You certainly don't want to be short," commented a leading marketmaker.
Leading shares, particularly those traded in ADR form in the U.S., made strong progress and the
was up 95.9 points to 6507.1.
Leading the charge was
, which jumped 166p to 13.37 pounds (US$21.12), helped additionally by a recommendation from
rose 83p to 15.27 pounds.
Tech stocks are well and truly back in favor after Wednesday's little hiccup.
celebrated its imminent inclusion in the Footsie 100 with a gain of 322p to 64.90 pounds.
, also set to join the index elite, rose 700p to 129.00 pounds. Baltimore announced this morning that it is taking a majority stake in the privately owned
NSJ Corporation of Japan
rose 31p to 10.50 pounds,
gained 212p to 45.20 pounds and
jumped 112p to 32.82 pounds. The
index of leading tech stocks advanced 122.5 points to 5537.7.
Against this, a couple of Wednesday's winners in the oil sector turned out to be today's losers.
, which rose 10% Wednesday as the market got excited about world oil prices, retreated 12.5p to 543 on profit-taking. Similarly,
dipped 11p to 481.
The major Continental stock markets were mixed, as financial and tech issues garnered the most interest. The
in Frankfurt was down 54.53 to 7932.47 and the
in Paris was up 69.15 to 6414.12.
After confirming plans to merge,
both lost the gains made earlier this week. Deutsche Bank fell 7.25 euros to 85.50 (US$82.08) and Dresdner dropped 3.57 euros to 52.39.
But their plans have sparked interest in other financial stocks. Insurer
, which owns stakes in both banks, jumped 5 euros to 416 and
surged 3.31 euros to 45.31 amid reports that
is preparing a hostile bid for Germany's fourth largest bank.
Frankfurt technology stocks were also able to move higher after sustaining losses over the past few sessions.
was up 2.03 to 178.41 and software maker
rose 6.10 euros to 1010.10.