LONDON -- You would think that the European equity markets would respond positively to sharp
Dow Jones Industrial Average
gains, but so far today, investors have been reluctant to chase the game and it's been left to individual stocks to provide the features.
in London stood 10.6 points lower at 6,615.8. The
index for leading technology stocks stood 24.9 points higher at 3,658.3.
surged higher with a gain of 195p to
13.95 ($21.04) after press reports that
is lining up a bid of
15.00 per share for the company to compete directly with
British Aerospace (BAe) Systems
. This didn't appear to trouble Bae, which was 4p higher at 404.
Dealers think there could be some truth in the rumor that
could team up with
of France to mount a bid for giant
. Cadbury rose 6p to 421.
, on the other hand, dipped 7p to 298 with the market seemingly unimpressed with full year profit of
124.3 million, at the top end of analysts' estimates. The consensus estimate was
123.1 million. There is an unchanged dividend of 23p.
responded to top-of-the-range profit of
460 million with a gain of 10p to 490. The company plans a share buyback of as many as
400 million and sees good prospects for retailing. There are also reports that BAA is planning to sell its U.S. arm of duty-free operations for
Among the techs,
jumped 200p to
20.00 after news of boardroom changes and a proposed name change. JSB will soon be known as SurfControl.
rose 160p to
10.30 following a further deal with
Europe's other major stock markets were mostly lower early Thursday, with the
in Frankfurt down 33.8 at 7,405.1 and the
in Paris 25.0 lower at 6,648.5. The Neuer Markt's tech-heavy
index was up 93.3 at 6,721.6.
In Frankfurt big tech shares were lower, with software maker
down 6.42 euros at 614.62 ($581.33),
off 2.85 euros at 166.45 and
0.65 euros lower at 140.05.
Carmakers were mixed midsession, as
rose 1.26 euros to 59.21 and
fell 0.02 euros to 42.83.
On the Neuer Markt, online bank and brokerage
was up at 36 euros, trimming gains made in the first hours after its initial public offering at 31. ISP
was down 2.17 euros at 41.20.
In the telecoms sector, a report that
may attempt to merge with Holland's
mobile unit and Finland's
pushed KPN's shares down 0.65 euros at 52.2 and Sonera's up 5.80 euros to 62.10.
was down 1.58 euros at 71.42,
was near unchanged at 23.22 euros and
was 3.50 euros lower at 165.50.