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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: Lucretius who started this subject	1/2/2001 5:55:11 AM
From: Box-By-The-Riviera™	Read Replies (2) of 436258

FRANKFURT, Jan 2 (Reuters) - Shares in Europe's biggest software maker, Germany's SAP AG, tumbled over seven percent on Tuesday, dragged down by a 64 percent slide in sector peer Intershop <ISHG.DE>. By 0909 GMT, shares in SAP were trading down 7.08 percent at 139.40 euros, while the benchmark DAX index was 1.56 percent lower. Neuer Markt-listed software firm Intershop dived after it slashed earnings and sales forecasts for 2000, blaming a global slowdown in technology purchases. Intershop was down 64.39 percent at 11.90, dragging down the Neuer Markt Nemax 50 growth index <.NMDKX50>, which was 8.45 percent in the red. "SAP is falling because of Intershop which is in the same line of business," one Frankfurt-based trader said. He added that the whole software sector was already weak after U.S. software firms like Oracle <ORCL.O> and Microsoft Corp <MSFT.O>, the world's largest software company, closed markedly weaker on Friday. "The Intershop news has come when the sector is vulnerable. It is very, very bad for the branch," he said. SAP stock is currently trading 70 percent off a year-high of 364.14 euros touched last March.

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