LONDON -- The U.K.'s markets got off to a solid start Monday morning, but with the coming holiday in the U.S. and an interest-rate decision on Thursday from the Bank of England, business was at a slow ebb.
by midmorning was 49 points higher at 6361.7 and the
moved up 20.4 points to 3411.5.
There were contrasting fortunes for companies within the telecom sector. Recently under siege
fought back to stand 12p higher at 279 ($4.24), although weekend reports were full of stories about shareholder revolt over humongous compensation packages to executives so this rally could be short-lived.
was the subject of criticism from the telecom regulator and slipped as much as 11p before coming back a little to stand 2p cheaper at 852.
Although most analysts expect interest rates to be left on untouched later this week, banks faired badly this morning.
Royal Bank of Scotland
fell 16p to
shed 9p to
rose 8.5p to 831.5 on reports that the company is in advanced negotiations with
to acquire the U.S. banking group's Hong Kong retail business for about
Reports that supermarket chain
is in advanced talks over a
3-billion deal to acquire
, Germany's biggest hypermarket chain that belongs to
, sent Tesco's shares down 4.5p to 201. Metro, though, climbed 1.11 euros to 38.10
Europe's other major stock markets were mixed, with the
in Frankfurt up 7.8 at 6,905.7 and the
in Paris 13.1 lower at 6,433.4. The Neuer Markt's tech-heavy
index was up 47.0 at 5,988.2.
Most blue-chip German tech shares were higher, with
up 4.51 euros at 109.00 ($103.90) and
up 2.90 euros at 196.60.
was off 0.26 euros at 157.74 and its subsidiary
was down 3.10 euros at 79.45, after Siemens issued a 2-billion-euro convertible bond for Infineon stock.
fell 0.39 euros to 39.30, failing to get a boost from good June sales figures in the U.S.
was up 0.40 euros at 60.20, amid more speculation over the weekend that the former state-controlled monopoly was considering a bid for
was up 3.30 euros at 149.70 and
was 1.00 euro higher at 22.50.