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Tech Stocks Push Europe Shares Up

March 17, 2000

LONDON (AP) _ Rebounding technology, media and telecommunications shares led European stocks mostly higher on Friday.

The Dow Jones Euro Stoxx Index, which tracks companies in countries that joined the single currency, ended up 5.29 points at 448.32, while the Dow Jones Euro Stoxx 50 Index was up 56.1 points at 5,231.4 and the Dow Jones Stoxx 50 Index rose 55.2 points to 4,989.0.

The Dow Jones Stoxx Index of shares in European companies rose 3.36 points, or 0.9 percent, to 393.74, with the telecoms, media and technology subindexes performing strongly. Automotive, basic resources and food and beverage stocks fell.

The release of stronger-than-expected 3.2 percent gain in the February U.S. consumer price index cost stocks some of their early gains.

Amsterdam’s AEX Index rose 1.3 percent to 672.18. Internet service provider World Online failed to live up to the excitement surrounding its initial public offering.

London’s FTSE 100 index rose a bare 0.8 point to close at 6,558.

Milan’s MIBtel Index rose 1.5 percent to 33,665, lifted by a 6.2 percent surge in blue chip Enel before the firm’s entry on Monday into the Eurostoxx 50 index.

The Paris CAC-40 Index rose 0.7 percent to 6,304.28, helped by France Telecom, which rose 6.9 percent. Frankfurt’s Xetra DAX Index rose 1.7 percent to 7,710.92.

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