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Europe mixed, techs fall
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September 29, 2000: 12:26 p.m. ET
Tech stocks slip on Apple earnings warning; Zurich plunges 2.8%
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LONDON (CNNfn) - Europe's main markets closed mixed Friday, with technology and media stocks leading declines after U.S.-based Apple Computer warned fourth-quarter earnings would miss analysts' estimates.
In Paris, the CAC 40 blue chip index dropped 0.7 percent to 6,266.63 as telecom equipment maker Alcatel (PCGE) and data network operator Equant (PEQU) notched up losses.
Frankfurt's electronically traded Xetra Dax declined 0.5 percent to 6,800.07, with consumer electronics and engineering company Siemens (FSIE) and Deutsche Telekom (FDTE) among the leading losers.
 London's benchmark FTSE 100 bucked the trend among the big three, climbing almost half a percent to 6,294.2, led by "old economy" diehard's British American Tobacco (BAT), brewer Bass (BASS) and detergent maker Unilever (ULVR).
 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 SMI in Zurich plunged 2.8 percent, or 220 points, to 7,731.3, led by investment bank Credit Suisse Group, down 6.2 percent on a news agency report that the company had issued a profit warnings. Credit Suisse issued a denial. Close rival UBS dropped 3.4 percent.
Milan's MIB 30 slipped 0.5 percent, while Amsterdam's AEX rose 0.4 percent.
The pan-European FTSE Eurotop 300, a broader index of the region's largest stocks, climbed 0.1 percent, with its tobacco sub-index up 5.7 percent.
In the U.S. Friday at midday, the Dow Jones industrial average fell 0.9 percent to 10,727.57 and the Nasdaq Composite index declined 1.6 percent to 3,718.84.
After U.S. markets closed Thursday, Apple Computer (AAPL: Research, Estimates) warned its fourth-quarter earnings would fall as much as 33 percent short of analysts' forecasts. The warning drove Apple and other computer makers' shares sharply lower in after-hours trade.
More ECB action to bolster euro?
 In the currency market, the euro rose against the dollar to 88.36 U.S. cents from 87.94 cents in New York late Thursday.
EU officials tried to downplay the impact on the euro of the Danish vote Thursday not to adopt it as their currency. Analysts said they expected the European Central Bank to move into the exchange market again to support the euro after this latest blow to the currency's standing.
"For the time being, the euro's fall is going to be limited," Neil Parker, an economist at Royal Bank of Scotland, told CNNfn, saying he expected the ECB to come back into the currency market.
Among European tech stocks heading lower Friday afternoon, U.K. cable network operator Telewest Communications (TWT) fell 3.8 percent, Rupert Murdoch's BSkyB dropped 3.2 percent, British Telecommunications (BT-A) slipped 3.3 percent, and telecom network operator Energis (EGS) 2.5 percent.
French telecom equipment maker Alcatel (PCGE) dropped 3.8 percent, network company Equant (PEQU) slipped 3.4 percent and chip maker STMicroelectronics (PSTM) fell 4.2 percent.
In Germany, Siemens dipped 3.5 percent, Deutsche Telekom slipped 2.3 percent and electronic component maker Epcos (FEPC) declined 1.4 percent.
Music producer EMI Group (EMI) fell 2.7 percent. The Wall Street Journal reported EMI has offered to sell U.K.-based record label Virgin Records to overcome European Union regulators' objections to its planned $20 billion music venture with Time Warner, the parent of CNNfn.com
 Old-economy stocks from financials to carmakers marched higher. In Germany, BMW (FBMW) gained more than 2.6 percent, Europe's biggest automaker, Volkswagen (VOW), climbed 3.4 percent and DaimlerChrysler (FDCX) rose 1.2 percent.
French insurer Assurances Générales de France (PAGF) rose 5.2 percent to  62.15 after investment bank UBS Warburg Dillon Read raised its target price for the stock to 70 from 64. German reinsurer Munich Re [FSE:FMUV2] rose 3.4 percent.
British American Tobacco (BAT) jumped 8.3 percent, the biggest gainer on London's key index, after a federal judge dismissed two key parts of a U.S. Justice Department lawsuit seeking to recover billions of dollars in compensation from tobacco companies.
Aerospace and defense company EADS (PEAD) soared 2.8 percent in the wake of a 25-plane order from Singapore Airlines for A3XX superjumbos, made by the company's 80 percent-owned Airbus Industrie.
Brewer Bass jumped 5.1 percent. Belgium's Interbrew said it is confident its deal to buy the beer business of Bass will be cleared by U.K. authorities, and says its own stock market flotation is still on track for later this year.
Unilever climbed 3.4 percent after the European Commission cleared the Anglo-Dutch food group's takeover of U.S. Bestfoods 
-- from staff and wire reports
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