Stockwatch Daily: Telcos falling on back of poor results

NEWS Markets opened weaker this morning with poor second half results from Deutsche Telekom pushing telecom stocks down. The German telco was down 1.17 per cent this morning after reporting a E400m (£245m) loss for the second half. BT fell 1.4 per cent to 476.5p and Cable & Wireless dropped 1.52 per cent to 345p. Despite reasonable second quarter results UK travel site ebookers fell 1.5 per cent this morning after cancelling an advertising deal with AOL. In late morning trading optical networking component firm Bookham Technologies reversed an earlier decline, jumping 6.12 per cent, despite reporting second quarter losses of £44m. Sonya Rabbitte