By Sonya Rabbitte, 24 July 2001 10:30
NEWS European markets took a bashing this morning after AT&T and Amazon posted disappointing results in the US overnight. In the UK Invensys, a manufacturer of industrial software and automation systems, led the decline posting a 20 per cent short fall in revenue and hailing the slowdown in business as the worst recession since the seventies. Invensys shares fell 25 per cent after the news, but managed to regain a few points in early trading to hover at a 17 per cent loss on yesterday. Irish chipmaker Parthus bucked the downward trend, posting a 30 per cent increase in second quarter revenue. Shares were up 1.8 per cent this morning, with rival chip firm ARM Holdings jumping 4.07 per cent.
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