European Midday Update: U.S. Elections Keep Europe Quiet

LONDON -- Unlike the U.S.' enemies around the world, Europe's markets are not enjoying the spectacle of the bastion of democracy facing a growing constitutional crisis. The markets are trying to tread water, but are beginning to look increasingly weak.

As lunchtime approached, the FTSE 100 stood down 43 points at 6399 and the Techmark 100 was off 65 points at 3282.

Optical component maker Bookham Technology(BKHM Quote) was looking particularly ugly, continuing its decline after releasing third-quarter results on Wednesday that showed widening losses. The stock plunged to a session low of 15.83 ($22.64), which is effectively the lowest level it has seen since the stock was floated back in April. By midday, the stock was down 176p at 16.50, making it the FTSE 100's biggest faller and bringing the two-day decline to 23%. ...