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LONDON -- A jittery, tense mood hung over London's equity markets as investors reacted to the deteriorating situation in the Middle East. By midday, the

FTSE 100

was down 16.6 points to 6115.3 and the

Techmark 100

was 99.1 points lower to 3302.49.

Oil stocks, which rose sharply in early trade, succumbed to profit-taking. "Oil shares have had a good run of late on the back of rising crude oil", says

Williams de Broe's

Peter Hitchens. "But the slightest hint of disruption of supplies causes investors to take their profits while they still can." That led the shares of


(BP) - Get BP Plc Report

11.5p lower to 635 ($9.33), while


(SC) - Get Santander Consumer USA Holdings, Inc. Report

came off its early highs to trade 11p lower to 600 by midday.

Tech stocks were punctured by fears of an economic slowdown.


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was one of the biggest decliners, shedding 69p to

10.00. Rival


wasn't far behind, plunging 84p to


The negative vibes spread to some telecom stocks as well. Worries about financing and the costs of rolling out third-generation mobile communications just won't go away.

British Telecom


fell 10p to 680. In contrast,


(VOD) - Get Vodafone Group Plc Report

was able to rise 3p to 240.

Banks were mixed.




Standard Chartered

saw their shares marked down by 8p to 906 and 24p to 921 respectively after a poor

Asian trading session. But


(BCS) - Get Barclays Plc Report

bucked the trend and rose 41p to


Europe's other major stock markets were mixed Friday, as the


in Paris was down 53.02 to 5937.68 and the

Xetra Dax

in Frankfurt was up 5.07 to 6470.33. The

Neuer Markt's


Nemax 50

index was 124.2 lower to 4095.0.

German blue-chip tech shares were able to shake off the broader negative sentiment, as



rose 1.50 euros to 49.25 ($42.45),


was up 4.29 euros to 143.69 and


(SAP) - Get SAP SE Report

rose 4.50 euros to 230.30.

Telecom shares, however, were lower across the Continent, as

France Telecom


dipped 0.85 euro to 97.40,

Deutsche Telekom

(DT) - Get Dynatrace, Inc. Report

was off 0.15 euro to 35.75 and


(TEF) - Get Telefónica SA Report

was off 0.47 euro to 21.48.

Old Economy stocks performed well Friday, as



rose 1.59 euros to 53.19 and


climbed 1.16 euros to 54.81.