LONDON -- The
rise Monday has provided London stocks with some early inspiration and, after opening 24 points higher, the
extended the gain to stand 27.3 points higher at 6494.2.
Trading was quiet, this being the first day of the Cheltenham horse-racing event, the place to be for those who like a flutter.
The big event of the day is, of course, the debut of
. The shares, offered at 380p (US$59.66), got off to a flying start, but below the early morning gray market price of 570p. The best price, soon after the official opening, was 530. The shares have since settled at 516, a net gain of 136p. So far, volume is 7.2 million shares.
BATM Advanced Communications
jumped 687p to 69.00 pounds after the company announced a cooperation agreement with
and discussions with
. There is also a share placing to raise $80 million and a proposed 10-for-1 share split.
gained 115p to 60.75 pounds and
was up 225p to 56.50 pounds.
took another beating in early trading after
"sell down to 26.40 pounds" advice, but has since rallied to stand 195p higher on balance at 46.80 pounds.
gained 23p to 602 as the company intensified the battle for Internet customers by unveiling its unmetered access plan. Freeserve customers, who access the Internet through
service, will be offered unmetered access at off-peak times at no more than 6.99 pounds a month from May.
Most of the major Continental stock markets were slightly lower early after Monday's sharp slide. The
in Frankfurt was down 6.68 to 7687.17 and the
in Paris was 2.58 lower to 6334.35.
Frankfurt technology stocks experienced a less-than-convincing rebound. Software maker
climbed 10 euros to 998 (US$962) and
was up 1.75 euros to 134.75.
fell 1.50 euros to 169.60. The electronics giant continued to suffer under the shadow of the IPO of its subsidiary semiconductor unit
. Infineon was able to build on its successful debut and climbed 2.84 euros higher to 73.10.
Big telcos were also having an off day, as
fell 2 euros to 90.25, and in Paris,
dropped 3.20 euros to 185.40.