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European markets end mixed
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February 8, 2002: 1:17 p.m. ET
Media and auto stocks lead gainers, techs continue to decline
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LONDON (CNN) - European markets ended the week on a mixed note, with strong gains by media and auto stocks countered by a big declines in the tech sector.
London's FTSE 100 was little changed at 5,128.1, while the CAC 40 blue chip index in Paris rose 0.1 percent to 4,299.04 and Frankfurt's electronically traded Xetra Dax was up 0.2 percent to 4,872.2 in late trading, with the German exchange set to close at 1900 GMT.
The pan-European FTSE Eurotop 300, a broader index of the region's largest stocks, was flat after spending much of the session in negative territory.
The media sector was boosted by British Sky Broadcasting (BSY), Europe's No. 2 pay-TV company, which was the top gainer in London, ended 3.4 percent higher, but off its highs for the day. The company said it would write off the full value of its 22 percent stake in troubled German media group Kirch for $1.4 billion.
Other media stocks followed BSkyB higher. Vivendi Universal (PEX), Europe's biggest media company, rose 2.5 percent, while Britain's biggest broadcaster Granada (GAA) was up 4.5 percent and France's TF1 (PTFI) rose 2 percent.
In the auto sector, Swedish truck maker Volvo rose more than 5 percent as investors overlooked a bigger-than-expected 2001 loss of 1.87 billion crowns and focused on a strong jump in sales.
French car maker Renault (RENA) rose 2.8 percent. Last year, Renault sold its truck business to Volvo, including the Renault brand in France and the Mack brand in the U.S. Meanwhile, another French car maker, Peugeot (PEUP) was up 2.3 percent.
Luxury car marker BMW (BMWG) rose 1.8 percent in late trading after the German company said sales jumped 18.7 percent worldwide in January from the previous year.
Electrolux, the world's biggest home appliances maker, added about 8 percent in Stockholm. It reported a smaller-than-expected fourth-quarter pretax loss before one-off items of 238 million Swedish crowns ($22.36 million) and said it saw flat markets but improving operating income this year.
German drugs group Schering (SCHG) was one of the top performers in Frankfurt, gaining 3.3 percent in late trading after investment bank Goldman Sachs included the company in its private client portfolio.
Saint-Gobain, the French aggregates group, fell 3.3 percent after it issued a  800 million bond, convertible into its shares.
BT Group (BT), the UK telecoms giant, rose 4.7 percent as investors continues to reward it for an upbeat earnings report on Thursday. Its stock also received an upgrade on Friday from Goldman Sachs.
Elan Corporation, whose shares have more than halved this week on accounting concerns, fell 6.6 percent - off its lows for the session -- a after the U.S. authorities said they were investigating the Irish drugs maker.
Among the tech losers on Friday, computer software giant SAP (SAPG), was down 3.5 percent, while Cap Gemini (PCAP), Europe's biggest computer services company, fell 3.3 percent. The sector has been weak since Philips Electronics posted a downbeat outlook on Thursday. Philips shares fell 2.7 percent.
Among Europe's smaller markets, Amsterdam's AEX index slipped 0.6 percent, while Milan's MIB30 index rose 0.5 percent and the SMI in Zurich was up 0.3 percent.
In the U.S. on Friday, markets were slightly higher at midday as weakness in chipmakers was balanced by the impact of upgrades in the telecom and networking sector.
The Nasdaq composite index was up 4.17 points, or 0.2 percent, to 1,786.28, while the Dow Jones industrial average rose 34.04 points, or 0.4 percent, to 9,659.48. 
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