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LONDON --

Vodafone

(VOD) - Get Report

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

FTSE 100

was up 73 points to 6348, while the

Techmark 100

shrugged off the

Nasdaq Composite Index's

overnight fall to add 59 points to 3137.

Other telcos rose in Vodafone's wake.

British Telecom

(BTY)

rose 22.5p to 712. Alternative carrier

Colt Telecom

(COLT)

was up 64p to

16.64 and

Energis

(ENGSY)

rose 20p to 477 after it reported a 71% rise in EBITDA to

65.5 million.

On the Continent,

Deutsche Telekom

(DT) - Get Report

was up 1.45 euros to 39.48 ($33.95),

France Telecom

(FTE)

was up 2.00 euros to 107.00 and

Telefonica

(TEF) - Get Report

was up 0.95 euro to 21.10.

This helped lift the markets, with the

CAC-40

in Paris up 84 points to 6121 and the

Xetra Dax

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

Bookham Technology

(BKHM)

, 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

15.40.

Internet security firm

Baltimore Technologies

(BALT)

climbed 16.5p to 437 and chip designer

ARM Holdings

(ARMHY)

added 28.5p to 653.5.

The impasse in the U.S. election continues to overshadow drug and tobacco stocks.

Glaxo Wellcome

(GLX)

fell 47p to

20.13 and merger partner

SmithKline Beecham

(SBH) - Get Report

slipped 6p to 919. Anglo-Swedish giant

AstraZeneca

(AZN) - Get Report

was down 56p to

33.14.

British American Tobacco

(BTI) - Get Report

was 12p lower to 485.