By Sonya Rabbitte, 10 April 2001 09:50
NEWS Marconi shares jumped up to 11 per cent in late trading after the company reported it will meet an £800m profit expectation following an organisational restructure and 3,000 layoffs. In recent weeks shares had dropped over 50 per cent as rivals Lucent, Nortel and Alcatel announced profit warnings. But Marconi shares opened this morning at 339p, over three per cent up on yesterday's close. In Paris, Alcatel shares rose 4.19 per cent on the back of the Marconi announcement, while Nokia jumped 5.58 per cent in Helsinki. The Paris CAC 40 was up 0.6 per cent while in Frankfurt the DAX rose 0.4 per cent. The London FTSE rose 0.1 per cent.
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