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Techs lift European markets
LONDON, England (CNN) -- European markets rallied on Friday as investors bought up technology and cheered encouraging economic data in the United States. It was the first positive finish since Monday. London's FTSE 100 climbed 0.1 percent to 3,808.1 and the CAC 40 blue chip index in Paris gained 1.1 percent to 2,838.14, while Frankfurt's electronically traded Xetra Dax was up 1.3 percent to 2,733.07 in late trading (the German market was set to close at 1900 GMT). The pan-European FTSE Eurotop 300, a broader index of the region's largest stocks, was up 0.8 percent. Among the top performers on Friday was British software company Sage (SGE), which jumped 12 percent to 134.63 pence. Finance Director Paul Harrison told Reuters that some customers had deferred spending but that had not been "exacerbated" by the war in Iraq. It also said first-half profit rose 14 percent. Europe's biggest software company SAP (FSAP) was up 4.8 percent to 80.75 euros in late Frankfurt trading. German carmaker BMW (FBMW) was up 1 percent to 29.05 in late Frankfurt trading as Western European car sales rose last month for the first time this year. Dutch telecom operator KPN added 1.1 percent to 5.69 euros after its debt ratings was upgraded by Moody's, France Telecom (PFTE) gained 3.4 percent to 20.28 euros. Investors were also encouraged by positive U.S. economic news. The University of Michigan's Consumer Sentiment Index said its preliminary reading on consumer sentiment in April rose to 83.2 from 77.6 in March. Economists surveyed by Reuters expected the index to rise to 78.1. Also encouraging investors, the Commerce Department said retail sales rose 2.1 percent in March after a 1.7 percent drop in February. "The U.S. retail sales were better than expected and there are hopes that other economic number might improve in coming months," Lex Werkheim, an asset manager at Eureffect in Amsterdam, told Reuters. "People are focusing on the economy again and with a short war scenario, investors are betting that things might get better." The AEX index in Amsterdam rose 1.6 percent and Milan's MIB30 index gained 0.7 percent, while the SMI in Zurich climbed 1.7 percent.
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