European Phone-Related Stocks Advance; Infineon Declines
By John Fraher
quote.bloomberg.com
Frankfurt, May 9 (Bloomberg) -- European phone-related stocks rose, led Vodafone Group Plc and Alcatel SA, amid optimism an 18- months slump in demand may be ending. Infineon Technologies AG fell after UBS Warburg cut its recommendation on the chipmaker.
The Dow Jones Stoxx 50 Index gained 2.38 points, or 0.1 percent, to 3497.52, rising for a second-day after hitting a six- month low.
U.S. shares jumped after General Electric Co., the world's biggest company, said it sees signs of a recovery at its more economically sensitive businesses and Cisco Systems Inc. said it had its first quarterly sales increase in five quarters.
Vodafone, the world's biggest mobile phone company, advanced 1p to 105, taking its loss this year to 41 percent. Alcatel, Europe's largest phone-equipment maker, rose 7 cents to 13.75, trimming its 2002 decline to 28 percent. |
