European Stocks Fall as Phone-Equipment Makers, KLM Decline
By London newsroom
London, July 4 (Bloomberg) -- European stocks fell, led by phone-equipment makers, amid concern about profit after shares of Marconi Plc were suspended pending a statement on the company's outlook. Alcatel SA, Nokia Oyj and Ericsson AB slid.
KLM Royal Dutch Airlines NV declined after Europe's fourth- largest airline said it expects first-quarter operating profit will be ``substantially'' lower.
The Dow Jones Europe Stoxx 50 index shed 19.52 points, or 0.5 percent, to 4042.65. Alcatel, Europe's fourth-largest phone- equipment maker, Nokia, the No. 1 wireless handset maker, and Ericsson, the No. 1 phone-equipment maker, were the three biggest decliners on the Stoxx 50.
``Most of the news coming out now is about profit warnings and general gloom,'' said Peter Cogliatti, a trader at Williams de Broe in London. ``We're expecting bad news from Marconi.''
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