Techs lead Monday morning recovery

NEWS Technology companies this morning led the recovery of European markets after sizeable losses on Friday. Telecoms companies were among some of the biggest losers last week but this morning moved into the green to recover their losses. Vodafone was up 3.16 per cent to 98p, while mm02 was up two per cent to 38.47p. Swedish telecoms equipment maker Ericsson gained more than four per cent during early morning trading after shareholders approved a $3.1bn rights issue, which is set to go ahead before the end of September. A strong close on Wall Street also contributed to a more upbeat performance in Europe this morning. The FTSE-100 was slightly into the green by 0.3 per cent while the TechMark 100 was up by 1.25 per cent. The Paris CAC 40 was up one per cent while in Frankfurt the Dax 30 gained 0.54 per cent.