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Europe markets buoyant
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November 13, 2001: 11:56 a.m. ET
Anti-Taliban action gives boost; tech stocks surge
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LONDON (CNN) - Europe's markets ended the day high after gaining confidence from
anti-Taliban action in Afghanistan and increases in the technology sector.
London's FTSE 100 closed 2.5 percent up at 5276 and the CAC 40 blue chip index in Paris was up 4.1 percent to reach 4558.41, while Frankfurt's electronically traded Xetra Dax rose 2.3 percent to 4930.29.
The pan-European FTSE Eurotop 300, a broader index of the region's largest stocks, was also up by 3.3 percent.
Technology, media and telecom shares led the upsurge, with French telecom equipment maker Alcatel making the largest gains with 9 percent.
Infineon Technologies (FIFX), Europe's second-largest chip maker, advanced 9.6 percent. The company posted a heavy loss for 2001, but said it had sufficient cash to withstand the current malaise in the chip sector.
STMicroelectronics (PSTM), Europe's biggest semiconductor maker, rose 7.9 percent after Infineon Chief Executive Ulrich Schumacher said on Monday he saw a positive trend in mobile communications over the past few weeks, traders told Reuters.
The French company's stock also rose after Italy's market regulator Consob gave its green light to ST to enter the Italian
blue-chip index MIB 30 in 2002.
ARM Holdings (ARM), Europe's biggest chip designer, climbed 9.5 percent in London.
U.S. stock investors seized Tuesday morning on the Taliban's retreat from Afghanistan's capital and statements that the jet crash in New York was accidental as good incentives to buy.
The plane crash had knocked European bourses back about three percent, with airlines and EADS, which owns 80 percent of passenger jet maker Airbus, dropping sharply on Monday to bounce back 9 percent on Tuesday. It makes the A300-600 jet that crashed in New York. On Tuesday the company said third quarter sales rose 26 percent and maintained its 2001 sales and operating profit targets.
Europe's biggest airline British Airways (BAY), which plunged 6.4 percent early on Tuesday, rose 4.6 percent.
Vodafone (VOD), the world's largest mobile phone operator, led gains rising 3.3 percent even as it said losses had widened after writing off the value of some acquisitions.
Vodafone posted a loss in the six months ended September 30 of £9.7 billion ($14 billion), or 14.41 pence a share, compared with a loss of £4.75 billion, or 8.01p a share, in the same period a year ago.
Mobile phone equipment makers made strong gains. Finland's Nokia, the world's biggest mobile phone maker, jumped 8.2 percent and Sweden's Ericsson, the biggest mobile phone infrastructure maker, soared 8.4 percent.
But troubled telecom equipment maker Marconi (MONI) fell 3.2 percent after posting a huge loss as it slashed the value of acquisitions.
The company made a loss of £5.1 billion ($7.4 billion), or 192.9 pence a share, for the six months to September 30. In the same period a year ago
the company posted a loss of 147 million, or 5.4p a share.
In Amsterdam the AEX index climbed 3.9 percent and the SMI in Zurich rose 2.6 percent higher, and Milan's MIB30 index climbed 3 percent.
In early trade on Tuesday, the Nasdaq composite added 43.44 to 1,883.57. The Dow Jones industrial average rose 141.51 to 9,695.88, while the
Standard & Poor's 500 tacked on 14.14 to 1,132.47. 
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