LONDON -- On the day that Denmark goes to the polls to decide on whether to join the euro, Europe's markets were marginally lower.

The euro was steady around 0.8851 to the dollar as the Danes -- the first people to enjoy a referendum on membership of the single currency -- vote in a contest that is too close to call, although early exit polls suggest they will adopt the euro. The poll is being seen as a test of confidence in the euro after the concerted central bank intervention last week to try to halt its fall. As such, the result -- expected later tonight -- is being eagerly awaited by both supporters and opponents of the currency alike.

In London, equities were treading water, with little to entice investors into the market. The

FTSE 100

was down just 29 points at 6240 and the

Techmark 100

fell 47 points to 3702.

Telecom stocks looked a little jaded.


(VOD) - Get Vodafone Group Plc Sponsored ADR Report

, whose rise did much to shore up the market earlier this morning, has run out of puff to stand 2.75p lower at 247.25.

British Telecom


was 12p lower to 716 and



shed 13p to stand at 497.

Technology stocks have also had a mixed session so far. Chip designer

ARM Holdings


took a bashing, falling 36.5p to 733.5.


also looked soft and the shares slipped 9% to 900p.

The UK's biggest ISP and portal



fell 5.25p to 236.75 after reporting that pretax losses more than doubled to

17.8 million for the first quarter to Aug. 19 from

8.56 million in the same period last year, due to higher sales and marketing costs.

TheStreet Recommends

Media stocks were in the spotlight.

Granada Media

recovered from its recent sharp slide to stand 6p higher at 444. But news that


, majority owned by



, has announced a product alliance with


did nothing for the media company's share price. Reuters' shares were 26p lower at


Europe's other major stock markets were lower. The

CAC 40

in Paris was down 24 points at 6296 and the

Xetra Dax

in Frankfurt was down 50 points at 6764.



fell 2.02 euros to 50.70 ($44.61) as

Goldman Sachs

cut its earnings

forecast for this year for the carmaker by 15% to 4.85 euros.

Phone equipment makers also fell as investors, worried over the current market sentiment, began to take profits in some of the best-performing shares of this year. By midday,



was down 5.40 euros to 75.60 and


(NOK) - Get Nokia Oyj Sponsored ADR Report

was down 2.03 euros to 44.77.