lifted the spirits of dejected investors this morning.
Shares of the world's largest mobile operator were up 14.75p, or 6.5%, to 253 ($3.64) by midmorning after it reported better-than-expected results during the six-month period ended September. The company reported proportionate (taking into account all the stakes its has in partners) EBITDA of
3.3 billion, above analysts' expectations of around
3 billion. Proportionate figures reflect the group's stakes in its businesses around the world. Vodafone's early advance dragged the market up by 40 points so that overall, the
was up 73 points to 6348, while the
shrugged off the
Nasdaq Composite Index's
overnight fall to add 59 points to 3137.
Other telcos rose in Vodafone's wake.
rose 22.5p to 712. Alternative carrier
was up 64p to
rose 20p to 477 after it reported a 71% rise in EBITDA to
On the Continent,
was up 1.45 euros to 39.48 ($33.95),
was up 2.00 euros to 107.00 and
was up 0.95 euro to 21.10.
This helped lift the markets, with the
in Paris up 84 points to 6121 and the
in Frankfurt up 68 points to 6810.
Tech stocks took some heart from the Nasdaq's attempt to recoup some of its losses. Some investors clearly felt that
, which has been hammered mercilessly over the past few weeks, was cheap. The shares, which routinely perform triple-digit swings in both directions, added 145p to stand at
Internet security firm
climbed 16.5p to 437 and chip designer
added 28.5p to 653.5.
The impasse in the U.S. election continues to overshadow drug and tobacco stocks.
fell 47p to
20.13 and merger partner
slipped 6p to 919. Anglo-Swedish giant
was down 56p to
British American Tobacco
was 12p lower to 485.