LONDON (CNNfn) - Europe's top markets ended mixed Wednesday, as gains for technology and media stocks bolstered the indexes in Paris and London, while Frankfurt backpedaled a day before European Central bank officials were widely expected to boost interest rates.
Frankfurt's Xetra Dax was Europe's top loser, falling 108.84 points, or 1.49 percent, to 7,185.56, with BMW (FBMW) sinking 4.6 percent. Traders said investors were cashing in on recent gains for the automaker.
In London, the FTSE 100 ended up 28.8 points, or 0.4 percent, to 6,615.1. The CAC 40 in Paris was little changed, nosing up 0.63 to 6,634.62. 
In other top European markets, the MIB 30 in Milan rose 0.2 percent to 47,376, but Amsterdam's AEX eased 0.9 percent as KPN Telecom sank 6.4 percent after warning of lower operating profit due in part to the high cost of buying next-generation mobile phone licenses in Europe.
The SMI in Zurich fell 0.5 percent to 8,220, with Credit Suisse Group dropping 2.1 percent after announcing plans to buy U.S. investment bank Donaldson, Lufkin & Jenrette (DLJ: Research, Estimates) for roughly $11.5 billion.
The pan-European FTSE Eurotop 300, a broad index of the region's largest stocks, rose 0.1 percent, with its technology and electronics segments among the winning sectors, while automotive and insurance stocks fell.
As Europe's leading markets closed, Wall Street was lower. The Nasdaq composite index was down 4.81 points, or 0.1 percent, to 4,077.36 while the Dow Jones industrial average shed 75.47 points, or 0.7 percent, to 11,139.63.
In the currency market, the euro fell slightly against the dollar, dipping to 89.16 cents from 89.22 cents in late trading in New York Tuesday.
Earnings lift U.K. software firms
In London, good half-year earnings from computer-services provider CMG (CMG) lifted the stock 13 percent, pulling its rivals higher in its wake. Sema Group (SEMA) rose 8 percent, Logica (LOG) gained more than 6 percent and Sage Group (SAG) rallied 5 percent. 
Media firms were also in vogue, with broadcaster and programmer Carlton Communications (CCM) rising 3.6 percent while newspaper publisher Pearson (PSON) jumped 4.8 percent.
Freeserve (FRE) was again a major casualty in London. The U.K.'s largest Internet access firm is likely to be tipped out of the FTSE 100 index next week in a quarterly reshuffle, and the stock fell 5.2 percent.
In Paris, media and technology firms were also stronger, with broadcaster TF1 [PAR:PTF1] advancing 5 percent and rival Canal Plus (PAN) up 2.5 percent.
In the French telecom sector, telecom-to-construction conglomerate Bouygues (PEN) led CAC gainers, up 6.9 percent, while network equipment maker Alcatel (PCGE) added 4.6 percent and data network operator Equant (PEQU) gained 2.7 percent. 
Erasing an early gain, shares of French insurance powerhouse Axa (PCS) tumbled 4.6 percent to lead CAC decliners. The company's Axa Financial division owns about 70 percent of Donaldson, Lufkin & Jenrette. Among other losers in Paris were defense electronics firm Thomson-CSF (PTHO), off 4.4 percent.
Selling was broad in Frankfurt. Drug maker Schering (FSCH) slid 4 percent, Dresdner Bank (FDRB) dropped 3.4 percent, chip company Infineon Technologies (FIFX) fell 2.4 percent and Deutsche Telekom (FDTE) dropped 2.3 percent.
On the upside, Preussag (FPRS), a company that has turned itself into a provider of travel services from a steel maker, rose 0.8 percent, and sporting goods maker Adidas-Salomon (FADS) rose 1.8 percent.
In Amsterdam, the announcement of a replacement for Philips Electronics' chief executive Cor Boonstra, the man who resurrected the company, found little favor, and the stock fell 2.1 percent. 
-- from staff and wire reports
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