News of a €200 million order for television set-top maker Metabox sent the shares soaring and injected much-needed life to Frankfurt. The Xetra DAX index picked up from a low of 6,905.24 and by 5.30 p.m. was just 9.43 easier at 6,952.30. Metabox, listed on the Neuer Markt, surged 40 per cent to €180.55. Among DAX stocks, Deutsche Telekom continued to recover gaining €1.68 to €59.13.
Carmakers also saw action. BMW was €3.40 higher at €36.86. Volkswagen eased 29 cents to €40.71 after a European court upheld a decision to fine the company for anti-competitive practices, but reduced the amount to €90 million from €102 million.
The Paris Bourse ended marginally lower as France Telecom's rally mostly offset the bearish mood in bank and "new economy" stocks. The CAC-40 index closed down 0.14 per cent or 8.73 points at 6,453.97.
Amsterdam closed a little weaker as technology and media shares lost ground in line with weakness on the Nasdaq. The AEX index of bluechip shares eased 0.3 per cent to 665.60. But telecom shares rallied on hopes that they will pay less than previously expected for third-generation mobile phone licences. KPN Telecom rose 4 per cent to €48.85 and was the most heavily traded stock in the index. Zurich extended its advance into a fifth consecutive session, supported for a second day running by demand for Roche and Swiss Life. The SMI index finished 45.0 higher at 7,911.7. Roche certificates, up 4 per cent on Wednesday after a Goldman Sachs recommendation, added another SFr405 at SFr17,100 (€11,052).
Milan edged higher, helped by gains in the telecoms sector which was stronger across Europe. The Mibtel index finished 196 higher at 32,106. Stockholm reversed an early decline and ended slightly higher. The general index added 0.3 per cent to 5,848.34.
Helsinki fell 1.5 per cent to 15,248.27 on the Hex general index as losses on Wall Street hit Nokia and Sonera. Nokia lost 1.3 per cent to €53.50 and Sonera 3.5 per cent to €46.79.
