Stockwatch Daily: Europe droops after early surge

US tech big boys IBM and Apple have both posted encouraging results. The strength of sales of its Titanium notebook has enabled Apple to return to profitability, while IBM has shown a 15 per cent rise in net income for the first quarter.

By Kate Hanaghan, 19 April 2001 09:43

NEWS While the Fed's cut of 50 points pushed the Nasdaq up more than eight per cent by close yesterday, positive gains in Europe were short lived. News of losses from CMG, the Anglo-Dutch computer services company, cut short the morning's rally. The company traded lower by more than 17 per cent. The FTSE TechMARK was down 0.44 per cent during early trading. SAP was the exception with gains of almost seven per cent on the back of news that it has beaten analysts forecasts first its first quarter.

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