Telecom woes deepen after Orange flops

European bourses fared poorly in early trading today after US indices slipped overnight and telecom shares took a downturn.

By Sonya Rabbitte, 14 February 2001 10:00

NEWS On its second day of trading, mobile operator Orange slipped a further four per cent on yesterday's ten per cent tumble, with France Telecom down three per cent. Finnish groups Nokia and Sonera also took a tumble, with Nokia down 2.5 per cent and Sonera down 3.7 per cent. In the UK, BT dropped 3.7 per cent in early trading with Vodafone down 1.6 per cent. The big tech stock tumble of the morning was Bookham Technologies. After posting fourth quarter results which beat analysts expectations, but reported widening losses, shares dropped ten per cent. Other technology losers on the LSE included Autonomy and Arm Holdings.

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