European Markets Head South

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BBC

Friday, 16 March, 2001, 14:13 GMT European markets head south

European markets are back on the downwards path European markets are having yet another rough day, following news of profit warnings from technology stalwarts Compaq and Oracle.

Both firms made their announcements after the markets had closed in the US on Thursday night.

Thursday's losses on the US technology stock market Nasdaq - even before the latest profit warnings were made - were also pushing the European stocks into a nose-dive.

In London, the FTSE-100 index failed to recover any ground, trading with a 111.2 points loss at 5,618 by 1400 GMT.

The German blue-chip Dax index also shed 1.5% to 5801.89.

Only Paris attempted a rally, before losing its nerve. The Cac-40 index had lost 0.3% to 5163.59 at 1400 GMT. It had initially gained 0.39% on opening.

(snip)

-- Rachel Gibson (rgibson@hotmail.com), March 16, 2001


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