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Strategies & Market Trends : Trade/Invest with Options Jerry a Point & Figure Chartist

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To: Jerry Olson who wrote (2207)	5/3/2001 5:55:01 AM
From: 2MAR$	Read Replies (1) of 5893

Eurostocks off, Marconi leads telco equipment dive LONDON, May 3 (Reuters) - Marconi and Nokia led a telecoms equipment nosedive on Thursday morning, pushing European stock markets deeper into the red as investors cast a nervous eye toward sliding Wall Street futures. A sombre outlook from mobile phone gear maker Epcos AG <EPCGn.DE> added to the pessimism, pushing the stock down 3.7 percent. Epcos said it could see flat or declining earnings in the third quarter as sluggish handset demand persists. At 0930 GMT, the pan-European FTSE Eurotop 300 <.FTEU3> index was off 1.3 percent near session lows, while the DJ Euro Stoxx 50 <.STOXX50E> blue-chip index lost 1.45 percent, with all but three constituents losing ground. Nasdaq 100 index futures were off 1.3 percent after trading higher earlier, while S&P 500 futures dipped 0.7 percent. Marconi <MONI.L> shed 3.7 percent while Nokia <NOK1V.HE> lost 3.6 percent, contributing to a 2.8 percent decline in the DJ Stoxx technology index <.SX8P>. "Nasdaq closed yesterday 3 percent off the point at which it started the year, but the news flow hasn't actually improved that much" said Robert Kerr, European equity strategist with Bank of America. "This is perhaps a dose of reality in light of the fact that there's no 'new' news in the market," he said. MORE * end of story *

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