LONDON -- Europe's markets were going into the weekend higher as a reasonable performance overnight on Wall Street took some of the pressure off technology stocks.
was 72.9 points higher to 6363 and the
stood up 50 points at 3408.
Optical component maker
rose from Thursday's ashes to stand 10.7% higher at
23.81 ($34.05) as
blockbuster results replaced
nightmare in the minds of investors. Fiber-optics group
was also one of the session's biggest gainers as it climbed 46p to 880.
Among chip stocks,
was 30p to the good at 682.
reached a session high of 265p before falling back to stand 0.5p higher at 248.5.
It was not all sweetness and light as palm-top maker
issued a profit warning, causing the shares to plunge 24%. The company announced that its full-year profit would fall well short of expectations. The familiar theme of a weak euro, compounded by the rising cost of parts and problems with its PC Card modem, were to blame. By midday, the shares were 140p lower to 435.
Telecom stocks also gained.
rose an impressive 131p to
Cable & Wireless
advanced 38p to 938.
was 20.5p to the good at 758, while
was up 7.5p to 277.5 on confirmation that it is in talks to buy the mobile-phone assets of Ireland's
In addition, heavyweight broker
Morgan Stanley Dean Witter
reiterated its "overweight" stance on the sector.
Media stocks were buzzing on the news that
has won the auction to
buy U.S. rival
for around $5.7 billion, which lifted its shares 25p to 604.5. Rival
reacted badly to news as it adds to competition in the educational publishing market. The shares tumbled 12p to
It was a similar story on the Continent, with the
in Paris up 84.4 points to 6292.8 and the
in Frankfurt up 128.2 points to 6896.1.
Big gainers were again the tech and telecom stocks, with
up 3.09 euros to 47.14 ($39.13),
up 5.60 euros to 75.10 and
up 2.23 euros to 44.43.