Ericsson moves up on financial news

NEWS Ericsson's sales might have taken a knocking but its share price was up more than five per cent this morning. Losses for the quarter reached £385.6m, higher than the predicted £298.5m. However, it also reported positive cash flow and has forecast a rising operating margin for next year. This morning during early trading in Sweden its share price was up 5.6 per cent to SEK46 (£3.04). The company has also announced that its chairman Lars Ramqvist will not be looking to be re-elected at the company's yearly shareholders meeting in 2002.