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Techs rebound in Europe
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September 25, 2000: 12:43 p.m. ET
Markets lifted by techs, telecoms; falling crude hits oil stocks; euro slips again
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LONDON (CNNfn) - Europe's major markets closed higher Monday as tech and telecom shares roared ahead amid positive market sentiment from falling oil prices.
London's benchmark FTSE 100 index rose 0.8 percent to close at 6,257.1,led by electronic connector maker Invensys (ISYS) and network equipment maker Marconi (MNI).
 In Paris, the CAC 40 blue chip index jumped 1.2 percent to end at 6,3236.28 on gains by index heavyweight France Telecom (PFTE) and Internet technology consultant Cap Gemini (PCAP).
Frankfurt's Xetra Dax rose 48.44 points, or 0.7 percent, to 6,788.69, as Germany's dominant telecom firm, Deutsche Telekom (FDTE), and Europe's largest software maker, SAP (FSAP), rose sharply.
The SMI in Zurich gained 0.5 percent, Italy's MIB 30 added 0.8 percent, and
Amsterdam's AEX rose 0.9 percent.
 click here for the biggest movers on the ftse 100 in London
 click here for the biggest movers on the dax 30 in Frankfurt
 click here for the biggest movers on the cac 40 in Paris
The pan-European FTSE Eurotop 300, a broader index of the region's largest stocks, added 1 percent, with its technology sub-index up 4.2 percent and the telecom sector climbing 3.4 percent.
The index's oil segment fell 2.7 percent amid signs that governments of oil consuming and producing countries will cooperate to bring the price of crude down further. Brent crude for November delivery fell 97 cents to $30.28 in London trading. Lower oil prices cut operating costs for companies from transport operators to chemicals makers.
In the currency market, the euro fell slightly to 87.35 U.S. cents from 87.58 cents late Friday in New York.
In the U.S. Monday, the Dow Jones was up 0.2 percent while the technology heavy Nasdaq composite index rose 1.1 percent.
 Invensys led the London exchange higher, surging 11.1 percent following a report in Sunday Business that Tyco International (TYC: Research, Estimates), the world's biggest maker of electronic connectors, is considering a £6 billion bid for the British maker of factory controls.
Network equipment maker Marconi (MNI) surged 9.36 percent and chip designer ARM Holdings rose 9.7 percent. In Paris, chip maker STMicroelectronics (PSTM) charged up 2.5 percent while Cap Gemini rose 6.9 percent.
Europe's biggest software maker SAP (FSAP) rose 6.4 percent in Frankfurt and electronics and engineering firm Siemens (FSIE) also added 3.5 percent. Eon, created from the merger of utilities Veba and Viag, was up 2.2 percent.
Among telecoms, Britain's Cable & Wireless (CW-) rose 5 percent while business telecom operator Colt Telecom Group (CTM) climbed 7.1 percent. FTSE index heavyweight Vodafone Group (VOD), the world's largest mobile phone operator, jumped 2.6 percent.
 In Paris, France Telecom climbed 6.5 percent. Europe's biggest telecommunication operator, Deutsche Telekom, (FDTE) rose 4.8 percent in Frankfurt, and Telecom Italia was up 4.3 percent in Milan.
Telecom equipment makers also advanced. Finnish mobile producer maker Nokia climbed 4.3 percent in Helsinki, boosting the index up 3.5 percent.
With oil prices falling, France's TotalFina Elf (PFP) was the CAC's biggest decliner, down 3.1 percent, while BP Amoco (BPA) fell 2.3 percent and Shell Transport and Trading (SHEL) dropped 3.6 percent in London.
In other industries, Britain's biggest water utility, Thames Water, (TW-) climbed 4.3 percent after German power generator RWE (FRWE) agreed to buy Thames for £6.1 billion ($8.9 billion) in cash and debt. RWE shares fell 2.6 percent.
British retailer Kingfisher soared 11.2 percent amid speculation that Pinault Printemps-Redonte was in merger talks. The French retailer, which slumped 2.1 percent, denied the rumors.
Among other movers, media and missiles firm Lagardere (PMMB) was up 6.8 percent in Paris and Dresdner Bank was also up 2.3 percent in Frankfurt. 
-- from staff and wire reports
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