LONDON -- Investors in London were pretty brave Friday morning, especially considering what happened on Wall Street last night. The

FTSE 100

was up 1.0% to 6146.60, with tech stocks again leading the charge.

ARM Holdings

(ARMHY)

took another a giant leap for tech-kind with a rise of 221p to 45.35 pounds.

Baltimore Technologies

was firm but slightly off the pace with a rise of 115p to 115.25 pounds, and

Psion

charged forward 243p to 53.75 pounds before moving 68p higher to 52.00 pounds. The

Techmark

index of leading tech stocks was up 67.7 points, or 1.33%, to 5157.9.

United News & Media

(UNEWY)

was off to a very slow start, with the price untested in the first half-hour of trading. The market was still digesting figures that showed a less-than-expected fall in pretax profit last year and a plan to splurge 370 million pounds ($590 million) on the Internet. The price was a shade higher at 895.

Rank Group's

(RANKY)

results were less than inspiring, say market makers, but the shares moved forward 4p to 150. Recently out-of-sorts

Reuters

(RTRSY)

rose 32p to 13.68 pounds, and

Pearson

improved 31p to 22.40 pounds.

Reed International

(RUK)

continued to struggle, with the market still distinctly unimpressed with Thursday's figures. The company's Internet strategy also is being ignored (is that possible these days?), and the shares were down 38p to 510.

Tech shares were also the leaders on the Continent. The

Xetra Dax

in Frankfurt was up 85.91 to 7726.44, and the

CAC 40

in Paris was 95.65 higher at 6174.43.

The troika of German tech stocks:

Siemens

(SMAWY)

,

SAP

(SAP) - Get Report

and

Epcos

(EPC) - Get Report

all helped the Dax move higher as the first week of the CeBIT technology trade fair in Hanover wound down. Siemens surged 3.71 euros to 183.20, SAP climbed 16.52 euros to 873.02 and Epcos jumped 9.70 euros to 152.70.

After getting hammered earlier in the week, carmaker

Volkswagen

(VLKAY)

was able to recoup 1.74 euros to trade at 41.35, after the company's chairman increased expectations of a good forthcoming year.

In Paris,

Carrefour

continued to tap into the hype surrounding its plans to create an Internet portal. Midday, the retailer's shares were up 8.50 euros to 148. And in Zurich,

Nestle

(NSRGY) - Get Report

jumped 38 francs to 2804 after reporting better-than-expected 1999 profits.

Telcos also looked poised to have a positive end to the week, with

Deutsche Telekom

(DT) - Get Report

up 2.07 euros to 92.07, Spain's

Telefonica

(TEF) - Get Report

up 0.66 euros to 29.79 and

France Telecom

(FTE)

1.60 euros higher to 168.00.