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Europe's top markets stall
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July 25, 2000: 1:16 p.m. ET
Frankfurt, Paris pulled down by autos, techs; FTSE gets mild Reuters lift
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LONDON (CNNfn) - Europe's top bourses ended mostly lower Tuesday, with automotive and technology hardware stocks stalling in Frankfurt and Paris. London's leading index ended higher amid strength at financial news and data provider Reuters PLC and networking gear maker Marconi PLC.
Leading the way lower was the CAC 40 index in Paris, closing down 38.66 points, or 0.6 percent, to 6,463.91, driven down by a 4.6-percent decline for automaker Peugeot (PUG). On the upside, engineering firm Alstom (PALS) led gainers, up 6.2 percent.
London's FTSE 100 index closed up 9.4 points, or 0.15 percent, to 6,390.7. Reuters (RTR) added 4.3 percent after reporting operating profit in the first half of 2000 was little changed from last year over that period. Marconi (MNI) climbed 4.4 percent, after saying finance director John Mayo will become chief executive officer when CEO George Simpson becomes the company's chairman a year from now.
The SMI index in Zurich edged up 0.1 percent to 8,014.7.
Frankfurt's Xetra Dax rose 0.73 point, or 0.01 percent, at 7,329.04, with DaimlerChrysler (FDCX) down 3 percent, and rivals BMW (FBMW) and Volkswagen (FVOW) off 2.4 percent.
The pan-European FTSE Eurotop 300, a broad index of the region's largest stocks, dropping 0.4 percent, with its automotive sector index down 1.9 percent and its information technology sub-index down 2 percent. 
Trading on Wall Street was lackluster as Europe's major markets closed. The Dow Jones industrial average was down 3.53 points to 10,681.59 while the Nasdaq composite fell 0.3 percent.
In the currency market, the euro rose to 93.86 U.S. cents from 93.35 cents late Monday in New York.
Media on the move in London
On the London exchange, microchip designer ARM Holdings (ARM) shed 3.4 percent and optical technology company Bookham Technology (BHM) fell 5.1 percent.
The leading decliner was Telewest Communications (TWT), a cable company, which shed 5.8 percent. Elsewhere, Pay-TV broadcaster BSkyB (BSY) fell 5.4 percent while fellow broadcaster Carlton Communications (CCM) added 3.8 percent.
Drug maker Glaxo Wellcome (GLXO) climbed 2.7 percent, after falling as much as 1.2 percent earlier in the day.
Shares of global bank HSBC Holdings (HSBA) rose 3.5 percent, hitting a record high after three investment banks, including its own HSBC Securities division, made upbeat comments about the outlook for the bank's shares. Fellow financial sector firm Halifax (HFX) climbed 4 percent. 
In Paris, construction and telecom company Bouygues (PEN) fell 3.2 percent, broadcaster TF1 (TFI) declined 3 percent, while oil producer TotalFinaElf (TFT) fell 2 percent.
In French techs, computer consultant Cap Gemini (PCAP) fell 2.4 percent, networking equipment firm Alcatel (PCGE) fell 2.3 percent and data networking service provider Equant (PEQU) lost 1.4 percent.
Looking better to investors was cosmetics maker L'Oréal (POR), posting a 3.6 percent gain. Electrical engineering firm Schneider Electric (PSU) gained 4 percent.
Shares of Air France (PAF) closed down 3.5 percent, regaining some lost ground after falling 10-percent in late trade in the wake of a crash of an Air France Concorde flight destined for New York, killing all 109 people aboard and at least four others on the ground. The shares aren't part of the CAC 40.
In Frankfurt, leading the gainers was drug maker Schering (FSCH), rising 5 percent, followed by steel maker Thyssen Krupp (FTHY), up 4.9 percent, and re-insurer Munich Re (FMUV), up 4.5 percent.
Deutsche Telekom (FDTE) rose 1.2 percent, following Monday's 10 percent decline to a year-to-date low after it announced the acquisition of U.S.-based mobile phone company VoiceStream (VSTR: Research, Estimates) for about $46 billion in stock and cash.
Lehman Brothers, taking into account the value of a combined Telekom-VoiceStream, cut its price target for Telekom shares to  67 from 77, while WestLB Panmure raised its rating on the German telecom leader to "buy" from "outperform."
Europe's biggest software company SAP (FSAP) fell 2.1 percent.
While most auto sector plays in Germany were sweltering, truck maker MAN (FMAN) was up 3.1 percent, one of the strongest performers on the Dax.
In Madrid, Spanish telecommunications company Telefónica shed 0.5 percent following a report in Spanish daily El Mundo that Chairman Juan Villalonga has agreed with shareholders on the basic terms for his resignation. 
-- from staff and wire reports
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