LONDON -- The leading U.K. shares suffered an opening markdown on the back of Friday's fall on Wall Street. By midmorning, the FTSE 100 was down 28.7 points to 6497.3. However, the Techmark changed its habit and ignored the gain in the Nasdaq; the U.K. index fell 11.0 points to 3342.5.
Oil shares remain strong ahead of Wednesday's
meeting in Vienna. With the oil price hovering around the $30 mark, the oil majors are booking healthy profits and, with only a small production increase forecast, this looks likely to continue.
rose another 5.5p to 631.5 ($9.54) and
added 4p to 576.5.
gained 88p, or 17.3%, to 598 following weekend reports, subsequently denied, that the hand-held computer maker and the other owners of
intend to float the mobile phone venture much
sooner than previously stated.
Symbian is the joint venture between Psion and handset makers
. The venture is concerned with developing and establishing the standard operating system for next-generation mobile phones; it will be based on Psion's EPOC operating system, which is used in its palm-sized computers.
The recent strong run in media shares is over, at least for the moment. Profit-taking clipped 70p from
21.50 and 35p from
Europe's other major stock markets were up, with the
in Frankfurt up 25.78 to 7157.18 and the
in Paris 13.13 higher to 6469.39. The
index was down 46.2 to 6,409.8.
In Frankfurt, action was slightly confused as the market sorted out the new re-weighting of the Dax. Merged utilities
, now the new entity
, were down 0.87 to 55.98 ($53.94).
failed to profit from joining the Dax, falling 2.03 euros to 80.97.
However, other blue-chip German tech shares were higher, with software maker
up 7.00 euros to 617.00, Siemens up 1.00 euro to 158.00 and
2.96 euros higher to 135.56.
After floating a tranche of 200 million new shares for 66.50 euros,
fell 2.04 euros to 66.02.
was up 0.24 euro to 21.99 and
rose 3.80 euros to 157.20.