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Europe closes mixed
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April 2, 2001: 12:51 p.m. ET
Telecom shares boost Paris; Railtrack and tech shares tumble in London
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LONDON (CNN) - European markets ended mixed on Monday, as tech and some 'old economy' stocks pulled London lower, while telecom and oil stocks lifted Paris.
In Paris, the CAC 40 blue chip index rose 0.6 to end at 5,210.48, led by France Telecom (PFTE) and software maker Dassault Systemes (PDSY).
London's FTSE 100, Europe's biggest exchange, slipped 0.3 percent to 5,618.5, with rail operator Railtrack (RTK) and information technology consultant CMG (CMG) posting the biggest percentage losses.
 Frankfurt's electronically traded Xetra Dax was little changed at 5,827.01 in late trade, as losses in Deutsche Lufthansa (FLHA) and drugmaker Bayer (FBAY) offset gains in forklift maker Linde (FLIN) and utility Rwe (FRWE).
In Amsterdam, the AEX index dipped 0.1 percent, while the SMI in Zurich shed 1.9 percent and Milan's MIB 30 rose 0.4 percent.
The pan-European FTSE Eurotop 300, a broader index of the region's largest stocks, was down 0.3 percent, with the transport component down 3.4 percent and the computer software and services sub-index 2.5 percent lower.
In the currency market, the euro strengthened against the U.S. dollar, fetching 88.17 U.S. cents, from its late trading price of 87.60 cents in New York on Friday.
In the U.S., the technology-heavy Nasdaq composite index fell 1.4 percent, while the blue-chip Dow Jones industrial average slipped 0.2 percent by midday.
Chip stocks and related companies were mostly lower after Goldman Sachs cut its rating on the European semiconductor sector to "neutral" from "overweight."
ASM Lithography, the world's biggest supplier of equipment to make chips, fell 5.6 percent to  23.80 in Amsterdam after the investment bank cut the company's price target to 50 from 65.
UK software maker Misys (MSY) lost 7.1 percent while Europe's largest software maker SAP (FSAP) fell 2.1 percent in Frankfurt. Information technology consultant CMG (CMG) fell 5 percent in London. French engineering software maker bucked the trend, adding 3 percent in Paris.
Franco-Italian chipmaker STMicroelectronics (PSTM) declined 2.1 percent and German rival Infineon Technologies (FIFX) shed 2.9 percent.
Insurer Allianz (FALV) dipped 1.9 percent after agreeing on Sunday to buy Dresdner Bank for $21 billion. Dresdner (FDRB) lost 0.9 percent, Commerzbank (FCBK) lost 1 percent and Deutsche Bank, Germany's biggest bank, fell 1.5 percent.
British bank HSBC Holdings (HSBA) fell 0.8 percent.
Britain's Railtrack (RTK) dived 17 percent after the government doled out a £1.5 billion ($2.1 billion) advance to help the train operator upgrade its networks and took away major projects.
Airline Deutsche Lufthansa (FLHA) shed 3 percent
Aspirin and drugmaker Bayer (FBAY) slumped 2.9 percent
 In Paris, heavyweight France Telecom (PFTE) rose 4.5 percent and telecom-to-construction firm Bouygues (PEN) added 2.8 percent.
Corporate deals drove up some stocks. German computer services company Systematics, which is outside of the thirty-company Dax index, rose 6.7 percent after U.S. peer Electronic Data Systems (EDS: Research, Estimates) said plans to buy the company for about $570 million in stock and cash.
Cable & Wireless (CW-) rose 3.2 percent after saying it plans to sell $1.5 billion of debt exchangeable into shares of Hong Kong's dominant telecom operator Pacific Century CyberWorks. C&W plans to unload its 14.7 percent stake in the firm through the bond.
Data and telephone service firm Energis (EGS) dropped 7.2 percent. The company said after the market close it had reached a new agreement with Swiss information technology firm Distefora over a lock-up condition on selling the UK firm's shares.
Elsewhere, German steel maker ThyssenKrupp (FTKA) fell 2.4 percent and chemical maker BASF (FBAS) lost 1.7 percent.
Forklift maker Linde (FLIN) rose 3.5 percent and utility Rwe (FRWE) climbed 3.2 percent in Frankfurt.
Oil firm TotalFinaElf (PFP) added 1.6 percent. 
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