LONDON -- The FTSE 100 was down 71.5 points at 6,301.9 and the Techmark index was 86.5 points lower at 3,738.8, with telecom shares particularly hard hit after AT&T (T) - Get Report said it has cut its sales and profits forecasts for 2000.
came under immediate selling pressure and was 6.5p lower at 282 ($4.45),
fell 27p to
dipped 63p to
shed 28.5p to 355 following its annual results. Brokerage
has turned positive on the stock following the figures, moving its recommendation from "reduce" to "add," but so far without effect.
Tech stocks, as usual, go with the Nasdaq flow. Those lower this morning included
, down 411p to
, down 237p to
BATM Advanced Communications
, down 100p to
Media stocks gave back Tuesday's gains, with
down 71p at
54p off at
slipped 43p to
, in its latest review of the oil sector, upgraded
, which rose 18.5p to 569. However, the bank downgraded
, the former falling 19p to 508 and the latter 3p to 105.
Europe's other bourses were in the red, with the
in Frankfurt down 81.74 at 7474.18 and the
in Paris 62.12 lower at 6500.29. The Neuer Markt's
index was down 106.33 at 6601.00.
German technology stocks were mostly lower as investors turned to Old Economy issues.
was down 3.62 euros to 165.40 ($150.25), software-maker
fell 9.00 euros to 659.00 and
was off 1.70 euros at 153.50. The Neuer Markt-listed
was down 2.70 euros at 45.30.
rose 0.51 euros to 24.01 and carmakers
rose 0.30 euros to 64.72 and 0.17 euros to 42.57, respectively.
fell 1.20 euros to 73.80 and
was 1.80 euros lower at 176.20, but
was up 0.47 euros at 27.21.