By Sonya Rabbitte, 2 March 2001 09:30
NEWS Oracle shares, which rose 12.5 per cent yesterday fell 20 per cent in after hours trading. In London tech stocks tumbled on the back of the news with Logica down 4.1 per cent to 56p at opening, but rising over one per cent in later trading. CMG dropped to 3.3 per cent or 25p at opening but also jumped in later trading. In Frankfurt SAP was hit hard by the Oracle announcement and was down almost seven per cent in trading this morning. However, Nokia managed to overcome yesterday's fall, and rose 3.4 per cent this morning. In Japan the Nikkei index took a severe blow following the Oracle warning, dropping 3.3 per cent to a 15-year low. The downturn looks set to continue as Fujitsu Siemens issues a profit warning today.
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