By Suzanna Kerridge, 24 August 1998 16:44
NEWS Nasdaq took a beating on Friday following news of economic problems in Russia and Latin America. The US high-tech stock exchange fell by 34.84 points to 1797.61 while the Dow Jones lost 77.76 points to close at 8533.65. AT&T, Ascend and 3Com were among the blue chip casualties. However, Oracle bucked the trend and climbed 3/8 to 24 15/16 following its announcement to buy telco software company, Versatility, for $12m. Bob Jones, technology entrepreneur and analyst at Schroder Ventures, claimed the fall in share prices was "not that significant" and said technology companies are still a good investment opportunity. German and French stock exchanges also reported price falls. The German Xetra Dax electronic index posted its largest percentage decline in the past year while the French Cac-40 was down 8.5 points at 3935.81.
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