Tech stocks tumbling

Vodafone took a tumble on the FTSE this morning, after yesterdays sell off of £3.5bn worth of shares to buy out BTs stake in Japan Telecom and Spain's Airtel.

By Sonya Rabbitte, 3 May 2001 10:00

NEWS Shares fell 2.5 per cent at the start of trading to 194p. Other tech and telcom stocks also got off to a bad start. Telecoms equipment maker Marconi was down 2.5 per cent to 413.5p, and Colt telecom dropped 2.7 per cent to 990p. Spirent, a communications testing equipment maker, fell 4.5 per cent to 371p, and software company Bright Station fell 7.4 per cent after admitting its cash reserves are down to £2.9m. European technology stocks also fell with SAP dropping five per cent in Frankfurt.

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