Skip to main content

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.


FTSE 100

was 72.9 points higher to 6363 and the

Techmark 100

stood up 50 points at 3408.

Optical component maker

Bookham Technology


rose from Thursday's ashes to stand 10.7% higher at

23.81 ($34.05) as

JDS Uniphase's


blockbuster results replaced



TheStreet Recommends

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,

ARM Holdings


was 30p to the good at 682.

Parthus Technologies

(PRTH) - Get Priority Technology Holdings, Inc. Report

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.

Colt Telecom


rose an impressive 131p to

22.42 and

Cable & Wireless


advanced 38p to 938.

British Telecom


was 20.5p to the good at 758, while


(VOD) - Get Vodafone Group Plc Sponsored ADR Report

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

Reed Elsevier

has won the auction to

buy U.S. rival


(H) - Get Hyatt Hotels Corporation Class A Report

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

Xetra Dax

in Frankfurt up 128.2 points to 6896.1.

Big gainers were again the tech and telecom stocks, with


(NOK) - Get Nokia Oyj Sponsored ADR Report

up 3.09 euros to 47.14 ($39.13),



up 5.60 euros to 75.10 and

Deutsche Telekom

(DT) - Get Dynatrace, Inc. Report

up 2.23 euros to 44.43.