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Techs fuel European gains
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October 27, 2000: 12:18 p.m. ET
JDS report lifts techs; telecom, auto shares join rally; Dax jumps 1.9%
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LONDON (CNNfn) - Europe's main markets closed sharply higher Friday after better-than-expected results from U.S. networking specialist JDS Uniphase restored confidence in technology shares, with telecom and automakers joining in a widespread rally.
London's benchmark FTSE 100 index rose 64.2 points, or just over 1 percent to 6,366.5, led by fiber-optic component maker Bookham Technology (BHM) and telecom network operator Energis (EGS).
 In Paris, the blue-chip CAC 40 climbed 60.51 points, or about 1 percent, to 6,268.93, with network equipment maker Alcatel (PCGE) and index heavyweight France Telecom (PFTE) leading gains.
Frankfurt's Xetra Dax jumped 156.78 points, or 2.3 percent, to reach 6,924.68. Deutsche Telekom (FDTE) and Europe's biggest software company SAP (FSAP) were among the top movers.
 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
Among other leading European markets, Milan's MIB30 gained 1.4 percent and Amsterdam's ASX rose 0.6 percent, while the SMI in Zurich climbed 0.3 percent.
The broader FTSE Eurotop 300 index, a basket of Europe's largest companies, rose 0.8 percent to 1,633.46, with the information technology sub-index up 1.9 percent, and its telecom component soared 5.8 percent.
U.S. stocks were mixed midday Friday. The Nasdaq composite was little changed at 3,272.87, while the blue-chip Dow Jones industrial average leapt 113.58 points, or 1.1 percent, to 10,493.70.
In the currency market, the euro soared against the U.S. dollar to 83.98 U.S. cents from 83.07 cents in late New York trading a day earlier.
 In Europe's high-tech sector, Bookham Technology surged 6.6 percent after San Jose, Calif.-based fiber-optic network component supplier JDS Uniphase (JDSU: Research, Estimates) reported strong results. Britain's Marconi (MNI) rose 5.2 percent, rival Alcatel climbed 4.3 percent, while Dutch network service provider Equant (PEQU) gained 2.3 percent in Paris.
Franco-Italian chipmaker STMicroelectronics (PSTM) gained 2.9 percent and German rival Infineon Technologies (FIFX) gained 0.5 percent, electronic component maker Epcos (FEPC) jumped 2.9 percent, while its parent company, engineering and electronics firm Siemens (FSIE), added 2.5 percent.
Europe's largest software maker SAP (FSAP) advanced 4 percent in Frankfurt. British software and information technology consultant Logica (LOG) rose 5.8 percent while France's Cap Gemini (PCAP) climbed 3.5 percent.
Among telecoms, Deutsche Telekom (FDTE) gained 5.7 percent and France Telecom climbed 5.8 percent, while Britain's Cable & Wireless (CW-) soared 9.2 percent after U.K. regulators cut the fees that British Telecommunications (BT-A) can charge to carry rival operators' calls. BT was up 6.2 percent. Mobile phone operator Vodafone Group (VOD) rose 4.8 percent while COLT Telecom Group (CTM) climbed 5.2 percent.
Handheld-computer maker Psion (PON) missed out on the optimistic mood for "new-economy" stocks, plunging 28.7 percent after warning its full-year profit would be "well below" analysts' expectations.
In the media and publishing sector, British Sky Broadcasting Group (BSY) soared 6.2 percent ahead of its earnings next Friday.
Anglo-Dutch publisher Reed International (REED) shot up 8 percent. The company announced the acquisition of Harcourt General (H: Research, Estimates) for $5.65 billion in stock and cash.
 Carmaker Volkswagen (VOW) revved up 2.4 percent after reporting a 30.4 percent rise in nine month pre-tax profit to 4.3 billion marks ($1.8 billion), beating analysts' expectations. Rival BMW (FBMW) added 2.9 percent and France's Renault (RNO) rose 5.7 percent.
But DaimlerChrysler (FDCX) fell 2.1 percent after reporting a huge drop in operating profit a day earlier. 
-- from staff and wire reports
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