LONDON -- It's turning out to be another very good day for the market, as investors pile in amid the thinking that interest rates may not be lifted in the near future. The
was up 109.3 points at 6341.9 and the
index of leading tech stocks was 111.10 higher at 5239.50.
featured early, as the shares jumped as much as 111p to 14.80 pounds. The price has held up well and recently stood 99p higher at 14.68 pounds.
also started with a flourish, the shares racing up to 218p after the company announced annual results and proposed a buyback of 25% of its share capital. But, profit-taking dragged the price back to 198p, a net loss of 8.5.
added 3p to 358 with the market clearly happy with the appointment of Evan Newmark as chief executive of the company's multi-access portal. Newmark was previously managing director of
Goldman Sachs International
and responsible for its global wireless business.
jumped 26.5p to 681 on the proposed sale of its energy supply business, while
Cable & Wireless
rallied 80p to 13.95 pounds as the market digested details of the sale of its HKT stake to
Pacific Century Cyberworks
was off to a flying start with a gain of 625p to 69.25 pounds and
weighed in with a rise of 800p to 124.00 pounds.
The other major European bourses were gaining following Wall Street's higher close Tuesday, as investors fell back on the old reliable tech and telecom combination amid a lack of corporate news. The
in Frankfurt was up 19.43 at 7663.98 and the
in Paris was up 25.85 at 6216.81.
By midday Wednesday, German stocks looked split pretty much as they had the day before, with technology and telecommunications issues rising and financial stock retreating.
was climbing 6.77 euros to 191.17 and
was jumping 22.50 euros to 885.50, while
was down 0.57 euros at 36.96 and
had dipped 0.61 euros to 48.90.
was up 2.18 euros at 88.28 and multimedia firm
, listed on the
, was 11.50 euros higher at 188 after soaring some 10% on news it had acquired a smaller Austrian company.
continued its rise and was up 23.50 euros to 309.50 after buying the consulting business of
Ernst & Young
. Telecoms and related companies were also having a good day, with
up 7.10 euros at 174.60 and
8.90 euros higher to 252.10.