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Techs fuel Europe's gains
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April 5, 2001: 12:24 p.m. ET
Software, computer-related shares jump after Dell reconfirms estimates
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LONDON (CNN) - European tech shares led markets to end higher on Thursday, after PC maker Dell confirmed sales and profit estimates and the Nasdaq surged.
London's FTSE 100 rose 1.6 percent, or 86.1 points, to finish at 5,621.8, with cable TV firm Telewest Communications (TWT) and chip designer ARM Holdings (ARM) topping gainers.
The Bank of England cut interest rates by a quarter percentage point to 5.5 percent, as was widely expected, amid concerns a global economic slowdown led by the U.S. may slow growth.
In Paris, the CAC 40 blue chip index gained 1.7 percent, or 86.74 points to end at 5,158.56, led by engineering software maker Dassault Systemes (PDSY) and France Telecom (PFTE).
 Frankfurt's electronically traded Xetra Dax climbed 2.3 percent, or 131.07 points, to 5,728.73 in late trade. Europe's largest software maker SAP (FSAP3) and engineering and electronics powerhouse Siemens (FSIE) posted the biggest percentage gains.
In Amsterdam, the AEX index jumped 2.9 percent, the SMI in Zurich rose 2.4 percent and the MIB 30 in Milan added 1.5 percent.
The pan-European FTSE Eurotop 300, a broader index of the region's largest stocks, was up 2.1 percent. The information technology hardware component jumped 7.2 percent while the computer services sub-index rose more than 6.2 percent.
In the currency market, the euro slipped against the U.S. dollar, buying 89.66 U.S. cents, from 89.76 cents from late New York trade on Wednesday,.
In the U.S., the Nasdaq composite index was up 5.6 percent, while the Dow Jones industrial average was 2.5 percent higher in midday trade.
European chipmakers and computer-related stocks led gains after U.S. personal computer maker Dell (DELL: Research, Estimates) said late Wednesday it expects to match Wall Street's sales and earnings forecasts for its fiscal first quarter.
Europe's second largest chipmaker Infineon Technologies (FIFX) climbed 4 percent in Frankfurt, Philips Electronics, the region's No. 3 chipmaker, added 6.5 percent in Amsterdam while STMicroelectronics (PSTM), Europe's biggest chipmaker, rose 2.5 percent. UK chip designer ARM Holdings (ARM) advanced 9.9 percent.
Software maker SAP (FSAP3) climbed 8.6 percent while UK accounting software maker Sage Group (SGE) added 9.7 percent. Peer Logica (LOG) rose 6.7 percent. French engineering software maker Dassault Systemes (PDSY) rose 5 percent, topping the CAC leaders.
 Among telecom stocks, British Telecommunications (BT-) rose 2.9 percent after reports it is in talks with private equity groups to sell its yellow pages unit Yell for $4.3 billion.
Deutsche Telecom (FDTE) rose 2.8 percent. U.S. Federal regulators are set to approve the German company's $30 billion takeover of VoiceStream Wireless (VSTR: Research, Estimates), press reports said on Wednesday.
Other telecom stocks on the rise included France Telecom (PFTE), up 4.9 percent, Britain's Cable & Wireless (CW-), 4.9 percent higher.
Telecom equipment maker Alactel (PCGE) gained 1.6 percent, British rival Marconi (MONI) advanced 2.7 percent and communications-to- engineering conglomerate Siemens (FSIE) jumped 4.8 percent.
Finland's Nokia, the world's biggest maker of cellular phones, rose 7.8 percent after signing an agreement to provide Italy's WIND with  500 million worth of third-generation, or high-speed, mobile phone network equipment. Sweden's Ericsson, the biggest supplier of network equipment, climbed 9.6 percent after winning $400 million in GSM network deals in China.
UK cable operator Telewest Communications (TWT) rose 11.9 percent. French broadcaster TF1 (PTFI) jumped 4.9 percent.
Elsewhere, French hotelier Accor (PAC), operator of Hotel Sofitel and the Ibis and Motel 6 chains, rose 4.5 percent.
Railtrack (RTK) bounced 6 percent after a three-day slide following the government's decision to give the train operator a £1.5 billion ($1 billion) advance and at the same time take away key projects. 
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