LONDON -- U.K. market makers have become defensive after the trials and tribulations of Wall Street overnight, and the FTSE 100 was down 90.4 points to 6266.6.
staged an about-face in the last hour of trading that saw the composite index lose a 100-point gain to finish with a net loss of 93 points. That slimmed any chance of the technology sector recovering from the current rot, and the
index fell 78.9 points to 3644.0.
was down 401p to
slid 147p to
London Bridge Software
was 137p lower to
shed 83p to
It wasn't all one-way traffic.
JSB Software Technologies
jumped 125p to
19.00 following very good third-quarter figures. Also,
Fine Art Developments
rose 20p to 279 on news that it is to provide a home shopping e-fulfillment service to
, which was unchanged at 475.
The telecom sector featured two heavyweights, but they were moving in opposite directions Friday morning.
continued to respond to its
restructuring plan and gained 11p more to
11.44. But as
topped BT's bid for license B in the third-generation mobile-phone auction with a counterbid of
5.125 billion, it lost virtually all of Thursday's 11p gain to trade at 313.
slipped 27p to
Europe's other major markets also were lower. The
in Frankfurt was down 69.54 to 7379.52, and the
in Paris lost 50.11 to 6214.23.
Perhaps boding ill for the imminent initial public offering of its Internet unit,
slipped 2.73 euros to 71.90 (US$69.02). Other European telcos saw little interest from investors heading into the weekend, with
down 2.20 euros to 164 and
off 0.20 euro to 24.82.
In Frankfurt, both
continued to gain amid speculation they might merge. Dresdner was up 0.39 euro to 46.38, and Commerzbank was 1.14 euros higher to 42.64.
German tech shares were mixed, with
up 4.19 euros to 130, software maker
almost unchanged at 628.50 euros and
down 2 euros to 141.75.