Talk of a renewed wave of consolidation in the media sector sent Paris steadily ahead amid impressive gains for a wide range of tech-related stocks. The CAC 40 index fell back from its session high in late trading but still closed with a gain of 106.5 or 1.9 per cent at 5,646.12 as media stock responded enthusiastically to the latest US mega-merger within the industry. Canal Plus jumped €20.40 or 17.1 per cent to €140 amid widespread speculation that defence conglomerate Lagardere was set to take a stake in the pay TV leader's Canal Satellite offshoot.
The FTSE Eurobloc 100 index rose 1.4 per cent to 1,3337.93 and the FTSE Eurotop 100 index added 1 per cent at 3,509.44. Elsewhere in the TV sector, TF1 shot up by €90.50 or 20 per cent to €549.5 and M6 jumped €38.00 or 9 per cent to €464. Lagardere rose 5.55 to €60.75. Other techs were caught up in the general excitement. Equant rose €6.10 to €104, STMicroelectronics gained €8.80 at €135.8 and Alcatel added €6.80 at €221.8. Cap Gemini jumped €14.10 to €240.1.
Frankfurt rose 144.56 to 6,925.52 on the Xetra Dax index to close within 33 points of its all-time high. Software leader SAP gained €39.00 to €679 for a two-day advance of 24.6 per cent following Friday's upbeat trading statement. Siemens rose €7.00 to €124.65 and Deutsche Telekom, the market heavyweight, added €1.52 at €66.26.
Amsterdam advanced 10.28 to 655.14 on the AEX index following strong gains for the media sector.
Among media stocks, Elsevier rose 95 cents to €12.55 and VNU €1.90 to €48.40. Wolters Kluwer jumped €3.47 or 10.4 per cent to €36.97. KPN added 6.15 at €89.15. Electronics giant Philips put on €2.90 at €134.75.
Milan bucked Europe's upward trend to end slightly lower after a late bout of profit-taking in the heavyweight telecoms sector. The Mibtel index closed down 1 per cent or 275 at 27,067 off a low of 26,963.
Helsinki clawed back some of last week's losses, with the Hex index up 2.3 per cent or 317.45 at 13,857.37. Telecom and technology shares led the way. Nokia closed €4.15 higher at €170.65.
