By Sonya Rabbitte, 8 August 2001 10:15
NEWS A dismal fourth quarter performance from Cisco pushed European tech stocks lower in early trading this morning. The networking company posted a 99 per cent year-on-year fall in net profit, and warned on next quarter earnings. In the UK, Marconi and ARM Holdings were worst hit, with Marconi falling 4.8 per cent and ARM down 2.9 per cent. In Germany Siemens and Infineon fell between one and two per cent with Deutsche Telekom was down over five per cent. Telcom stocks also took a battering. Colt fell 3.73 per cent, Telewest dropped 2.55 per cent and Vodafone was down 2.84 per cent. Mobile equipment makers Alcatel and Nokia lost 3.64 per cent and 2.91 per cent respectively.
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