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Europe ends mixed bag
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October 20, 2000: 2:28 p.m. ET
Software, telecom, tech shares lift London, Paris; Frankfurt slips
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LONDON (CNNfn) - Europe's major stock markets ended mixed Friday as weakness in some technology and drug shares pared rises in telecom and other tech shares.
In London, the FTSE 100 index closed up 0.9 percent at 6,276.3, with software and technology shares taking the lead.
 In Paris, the CAC 40 ended up 1.4 percent to 6,149.44, led by strong gains in data network operator Equant (PEQU) and electrical equipment company Schneider Electric (PSU).
Frankfurt's benchmark Xetra Dax closed nearly unchanged, losing 1 point, or 0.02 percent, at 6,618.43 with Europe's largest software firm SAP [FSE:SAP3] and chipmaker Infineon Technologies (FIFX) leading decliners from the pharmaceutical to auto sectors.
Among other markets, Zurich's SMI fell 0.5 percent, but the AEX in Amsterdam climbed 1.1 percent while Milan's MIB30 index gained 0.5 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 FTSE Eurotop 300, a broader measure of the region's blue chips, added 0.7 percent, with the telecom sub-index up 3.2 percent. However, the information technology sector dropped 1 percent while the pharmaceutical segment fell 1.6 percent.
In the currency market the euro remained about less than a cent above its all-time low against the dollar. By the single currency bought 84.15 U.S. cents late in European trading, little changed from its 84.28 level in late New York trading Thursday.
In the U.S., the Dow Jones Industrial average was little changed while the Nasdaq composite gained 2 percent in early trading. The Nasdaq soared Thursday to its third-largest percentage gain, a rise of 7.8 percent.
Ericsson takes a dive, rivals thrive
Mixed results from telecom network equipment and cell-phone maker Ericsson paled in comparison with Thursday's upbeat earnings announcement from Finnish archrival Nokia. Ericsson's nine-month profit was better than expected, although the company warned of a hit to profitability in the final quarter of 2000 as losses in its handset manufacturing division deepen.
Ericsson shares slumped 16 percent in Stockholm, driving the Swedish OMX index down 3.8 percent, while Nokia stock added another 3 percent to its 22 percent rise Thursday.
British telecom equipment maker Marconi (MNI) surged 9.1 percent while French rival Alcatel (PCGE) rose 2.2 percent.
Franco-Italian chip maker STMicroelectronics (PSTM) gained nearly 5 percent while Germany's Infineon Technologies (FIFX) lost 3.7 percent.
 In the computer and Internet sector, standout U.K. gainers included Internet security firm Baltimore Technologies (BLM), which surged 10.5 percent. Software consultant Logica (LOG) jumped 11.9 percent. Germany's SAP fell 4.2 percent.
But Britain's largest ISP, Freeserve, tumbled 3.6 percent ahead of its ejection from the FTSE 100 Monday.
Telecom operators mostly rose. U.K.-based mobile-phone heavyweight Vodafone Group (VOD) climbed 2.6 percent, business network operator COLT Telecom (CLT) surged 7.4 percent, British Telecommunications (BT-A) gained 5.2 percent and rival Cable & Wireless (CW-) added more than 4 percent.
Germany's Deutsche Telekom (FDTE) added 3 percent while France Telecom gained 4.5 percent.
Dutch data network operator Equant (PEQU) topped the CAC gainers, up 8.1 percent. Electrical equipment company Schneider Electric (PSU) rose 6.2 percent.
Pharmaceuticals slump
Drug companies were under pressure across the continent. Anglo-Swedish drug maker AstraZeneca (AZN) was the biggest loser in London, down 4.3 percent ahead of its third-quarter earnings report Wednesday. Britain's SmithKline Beecham (SB-) fell 3.1 percent while Glaxo Wellcome (GLXO) slid 2.8 percent.
 In Paris, Franco-German Aventis (PAVZ) dropped 1.2 percent while Sanofi-Synthélabo (PSAN) fell 2.1 percent in Paris. Schering (FSCH) fell 3.4 percent in Frankfurt and Bayer (FBAY) lost 3.3 percent.
France's media and missiles firm Lagardère (PMMB) jumped 6.7 percent while British financial data and news firm Reuters (RTR) gained 5.9. Media and utility firm Vivendi (PEX) fell 1.1 percent in Paris.
Among financials, Germany's Deutsche Bank (FDBK) gained 3.3 percent and the world's biggest insurer, AXA (PCS), rose 2.6 percent in Paris.
In the auto sector, France's Renault (RNO) gained 2.2 percent and DaimlerChrysler (FDCX) rose 0.9 percent in Frankfurt. German truck maker MAN (FMAN) fell 4.1 percent while Volkswagen lost 2.8 percent and BMW (FBMW) shed 2.8. 
-- from staff and wire reports
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