Stockwatch Daily: Europe down with sector strife

Despite positive results from Microsoft and Nokia, European bourses were down this morning as Ericsson announced mass job cuts.

By Sonya Rabbitte, 20 April 2001 10:10

NEWS Microsoft jumped almost four per cent in after-hours trading, with Nokia falling 3.44 per cent this morning, after an initial rise in early trading. Ericsson shares dropped almost 14 per cent on the back of its bad news. In the UK, the FTSE dropped 0.5 per cent, with the TechMARK managing to hold on to a 0.1 per cent gain. UK movers included Marconi, up 1.6 per cent to 351.50p, Logica down 2.46 per cent to 905p, ARM Holdings down 4.62 per cent to 367.75p and Vodafone down 2.40 per cent to 228.75p. In Europe, the DAX fell 0.7 per cent, while the Paris CAC dropped 0.6 per cent with Alcatel shares down 2.4 per cent and STMicroelectronics down 2.3 per cent.

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