NEWS Siemens stock was down 5.4 per cent to E133.20 (£80) at 08:17 (GMT). Siemens CEO Heinrich von Pierer has succeeded in turning Siemens around over the past two years. Growth in its mobile phone operations has made a major contribution to its recovery. The company's share price soared from around E60 (£36) at the beginning of 1999 to a high of around E195 (£117) in March this year. Industry analysts have questioned how far its growth is sustainable and how much is due to the weak euro, which makes its products cheaper than those of US competitors. By Candice Goodwin
Siemens sees share price slump
Shares in Siemens, Europe's number three mobile phone manufacturer, fell by over five per cent today, hit by concerns over its future growth and the poor outlook for technology stocks generally.
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