LONDON -- It was a bit of a struggle out there this morning. The hands that were being sat on Thursday before the Bank of England's interest rate decision were in the same position and all but numb because of the nonfarm payroll and earnings data due out later today.
at one point was 24 points higher, but by midmorning was down 1.9 points to 6417.7.
Thursday rally helped breathe some life into tech stocks. The
rose 20 points to 3425.4 as software and information technology consultancy group
-- the worst performing Footsie stock Thursday -- rallied 68p to
Geo Interactive Media
, which came out with a positive earnings update Thursday and still lost ground, rebounded 57p to
attracted further support and rose 16p to 725, but
recent strong run came to an end as the stock was down 24p to
42.30 on light profit-taking.
In the telecom sector,
Cable & Wireless
was on the move again with rumors of a takeover bid from
still making the rounds. C&W was up 7p to
11.97. Deutsche Telekom fell 0.20 euro to 58.25, however, erasing initial gains from news it would invest up to $1 billion with
in a mobile phone venture in the Philippines.
encountered profit-taking after its recent strong run and slipped 4p to 308.
Among the media stocks,
was 25p lower to
12.68 as speculation surfaced again that
is preparing to unload its stake in the U.K. satellite TV broadcaster.
rose 33p to
was off 19p to
Tradepoint Financial Networks
was still benefiting from this week's news that the
Securities Exchange Commission
has given approval for U.S. investors to deal in European equities via its system. Tradepoint was up 15p to 188.
Most of Europe's other major stock markets were moderately higher, with technology and telecom shares leading the way. The
in Frankfurt was down 8.47 to 6942.62 and the
in Paris was 25.76 higher to 6479.73. The
index was up 20.7 to 6095.6.
Big German tech shares were slavishly following the Nasdaq's rebound, with
up 1.25 euros to 163.85 ($155.77),
up 2.77 euros to 110.15 and
off 1.95 euros to 195.35.
Most European telcos were also higher early on, with
up 0.30 euro to 146.00 and
up 0.21 euro to 24.21.
Telco equipment makers were also higher, as
rose 22.50 kronar to 472.50 ($53.14),
gained 11.00 kronar to 190.00 and
was boosted 2.05 euros to 74.00.