By Sonya Rabbitte, 31 August 2001 10:55
NEWS Vodafone took a dive this morning after Morgan Stanley downgraded the world's largest mobile operator amid fear of a mobile market slow down. The mobile operator fell two per cent to 131.5p, before regaining ground in early trading, after Morgan Stanley downgraded the company from 'outperform' to 'neutral'. By 10.00am shares were up 0.37 per cent. Orange, Telecom Italia and Telefonica also came under the scrutiny of Morgan Stanley, with Orange receiving a downgrade from 'strong buy' to 'outperform' despite yesterday's positive results which saw earnings double. Overall the telecommunications market was down 1.1 per cent this morning.
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