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European Stocks Close Higher

November 8, 1999

LONDON (AP) _ European stocks closed higher Monday, with BP Amoco and technology shares leading the gainers.

The Dow Jones Stoxx Index of 600 European companies rose 0.85 points, or 0.3 percent, to close at 324.19. BP Amoco, its biggest stock, gained 4.6 percent as its announced third-quarter results were better than expected.

The Dow Jones Stoxx Energy index was the best performer on the day, up 2.3 percent.

Technology shares were the second-best performers in Europe, with the index up 1.2 percent, even as Microsoft fell in New York after a U.S. federal judge made an initial antitrust ruling against the software group Friday.

Analysts and fund managers said the Microsoft ruling doesn’t affect fundamentals for European technology stocks.

``Possibly, certain companies lined up against Microsoft could benefit, but that would be in the extremely long term, as this is going to be fought out for several years yet,″ said Paul Kleiser, a fund manager with the Scottish Equitable Technology fund.

The Dow Jones Euro Stoxx Index, which tracks 310 companies in countries that joined the single currency, closed up 0.52 points at 341.52.

The Dow Jones Euro Stoxx 50 Index rose 10.47 points to 4,024.55, while the DJ Stoxx 50 Index closed up 26.01 points at 3,996.84.

In domestic markets, London’s FTSE-100 index of leading blue-chip shares rose 0.3 percent to close at 6,374.3.

In other markets, Frankfurt’s Xetra DAX index fell 0.2 percent to 5,647.94, Amsterdam’s AEX index fell 0.1 percent to 582.13, and Milan’s MIBtel index rose 0.1 percent to 33,124.

The French stock market rose to another record high _ the seventh in succession _ with the Paris CAC-40 index closing up 0.4 percent at 4,994.77. France’s benchmark stock index is now 27 percent higher than at the beginning of the year.

STMicroelectronics was the day’s leading CAC-40 gainer, closing up 4.6 percent after Goldman Sachs put the Franco-Italian chipmaker on its recommended list.

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