* FTSEurofirst 300 index closes up 0.1 percent
* Technology stocks gain
* Banks fall
By Joanne Frearson
LONDON, Sept 10 (Reuters) - European shares closed slightly
higher on Thursday in a choppy session, rising for the fifth
consecutive day, with gains in technology stocks overshadowing
losses in the banking sector.
The pan-European FTSEurofirst 300 <> index of top
shares edged up 0.48 points or 0.1 percent to 988.33 points,
having traded within a 14 point range reaching 993.85 at best.
The index, which fell 45 percent in 2008, is up nearly 19
percent this year -- 53 percent above a record low in March.
But, it is still down almost 15 percent from its level just
before the collapse of Wall Street firm Lehman Brothers a year
ago that accelerated the global credit crisis.
"I don't think there is an awful lot out there driving it.
It's just volatile trading in a general positive uptrend," said
Peter Dixon, an economist at Commerzbank.
Technology shares were among the major gainers. ASML
<ASML.AS>, the world's top maker of semiconductor lithography
was up 2.2 percent after it increased its sales outlook, thanks
to improving operations in some chip markets.
Nokia <NOK1V.HE>, Alcatel-Lucent <ALUA.PA>, Infineon
<IFXGn.DE, Logitech <LOGN.VX> and ARM Holdings <ARM.L> gained
0.5 to 3 percent.
Software stocks were higher, with SAP <SAPG.DE> up 2.7
percent after Bill McDermott, president of SAP's global field
operations, said the company would stay vigilant on costs and
added that SAP can achieve a higher market share and higher
profitability at the same time.
Autonomy <AUTN.L> and Cap Gemini <CAPP.PA> were up 1.6 to
2.6 percent.
BANKS FALL
Bank stocks took most points off the index. Banco Santander
<SAN.MC>, BNP Paribas <BNPP.PA>, HSBC <HSBA.L> and Societe
Generale <SOGN.PA> were down 1 to 2.3 percent.
General retailers were lower. Home Retail <HOME.L> fell 6.7
percent as investors took profits after Britain's biggest
household goods retailer reported better-than-expected
second-quarter sales at both its Argos and Homebase businesses.
"Home Retail and retailers in general have had a very good
run over the last few weeks and I think investors are finding
any excuse possible to take profits at the moment. That's what
appears to be happening with Home Retail," a trader at KBC Peel
Hunt says.
Energy stocks fell as crude <CLc1> lost 0.5 percent. BP
<BP.L>, Repsol <REP.MC> and Tullow Oil <TLW.l> was down 0.5 to
1.2 percent.
Mining stocks retreated as metal prices slipped. Copper
<MCU3=LX> was down 1.8 percent, aluminium <MAL3=LX> fell 1.8
percent and nickel <MNI3=LX> lost 3.5 percent.
Anglo American <AAL.L>, Antofagasta <ANTO.L>, Eurasian
Natural Resources Corporation <ENRC.L> and Xstrata <XTA.L> were
down 0.3 to 3.2 percent.
The Bank of England left interest rates at a record low of
0.5 percent for the sixth month running on Thursday and said it
would keep its 175 billion pound asset buying programme in
place. []
Across Europe, the FTSE 100 <> index was down 0.3
percent, Germany's DAX <> was up 0.4 percent and France's
CAC 40 <> was down 0.01 percent.
(Reporting by Joanne Frearson; editing by Elaine Hardcastle)
