By Sonya Rabbitte, 21 September 2001 10:45
NEWS Marconi shares reached a fresh low in early trading as the rapidly plummeting stock hit 19p, with international markets also hitting rarely before seen lows. Marconi managed to gain ground and crawl back up to 22p, but it still stands a long way from its 52-week high of £11.50. Across the markets, the FTSE, Dax and Dow Jones joined Marconi in a downward spiral. The FTSE fell 4.7 per cent to its lowest point since November 1997, but managed a one per cent rise to 4,391 by 10.00(BST). There were no gainers this morning on the FTSE, with Baan parent Invensys leading the losers in a 11.90 per cent fall. The Techmark fared almost as poorly with a five per cent decline. In Frankfurt the Dax also reached a four year low in early trading, dropping 6.5 per cent, although it later narrowed this to a 4.54 per cent fall. The Dow Jones closed down 4.4 per cent, its lowest level in three years. The Nasdaq closed 3.7 per cent down and the CAC 40 in Paris fell 4.83 per cent.
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