07/08/2002

Cisco and banks power Europe

London's FTSE 100 rose 1.7 percent to 4,199.6 and Frankfurt's electronically traded Xetra Dax was up 1.5 percent to 3,622.48, while the CAC 40 blue chip index in Paris jumped 2.6 percent to 3,369.53.

The pan-European FTSE Eurotop 300, a broader index of the region's largest stocks, was up 1.9 percent, with the information technology, insurance, media and engineering and electrical subsectors leading declines.

The technology sector got a boost after Cisco, the world's biggest supplier of gear that links computer networks and powers the Internet, said on Tuesday that fourth-quarter net income rose to $772 million. The company also forecast modest revenue growth for the current quarter.