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European Stock Roundup

July 31, 2000

LONDON (AP) _ European stocks climbed higher after early losses Monday, bolstered by a bright start on New York’s indexes.

Technology stocks posted gains, but so did the cyclical goods and services sector, as investors looked around for long-term value.

The Dow Jones Stoxx Index of shares in European companies was up 1.65 points, or 0.9 percent, at 181.51.

The Dow Jones Euro Stoxx Index, which tracks companies in countries that joined the single currency, was up 4.82 points to 426.66, while the Dow Jones Euro Stoxx 50 Index was 68.0 points higher at 5,129.9 and the Dow Jones Stoxx 50 Index rose 39.1 points to 4,862.8.

Many telecom heavy-hitters, including Vodafone, Deutsche Telekom and France Telecom, made gains as the auction for German mobile-telephone licenses progressed throughout the session.

Despite falls in oil and drugs stocks, most domestic markets made modest gains. London’s FTSE-100 Share Index rose 29.6 points, or 0.5 percent, to 6365.3. Frankfurt’s Xetra DAX Index was up 1.5 percent to 7,234.36, while the Paris CAC-40 Index rose by 2 percent to 6,542.49 and Milan’s MIBtel Index was 1.2 percent higher at 46,429. Amsterdam’s AEX Index was up 0.7 percent and Zurich’s SMI Index rose 0.3 percent.

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