03/12 04:25
European Stocks Fall; Nokia, Credit Suisse and Lufthansa Slide
By Sam Fleming
quote.bloomberg.com
London, March 12 (Bloomberg) -- European stocks fell after Nokia Oyj said first-quarter sales will be ``slightly lower'' than it had forecast and Credit Suisse Group said revenue will drop for a second year in 2002 at its securities unit. Ericsson AB and Deutsche Bank AG dropped.
Deutsche Lufthansa AG slid after omitting its dividend for the first time since a 1994 initial public offering.
The Dow Jones Stoxx 50 Index dropped for the second day, declining 40.30 points, or 1.1 percent, to 3638.75. Benchmark indexes slid in Europe's eight biggest share markets, four by more than 1 percent.
Nokia fell 1.15 euros, or 4.3 percent, to 25.90. The largest mobile-phone maker said sales are being hit by its network unit, where it expects revenue to fall 25 percent.
Ericsson, the biggest phone-equipment maker, fell 3.4 Swedish kronor, or 6.9 percent, to 45.8. Alcatel SA, Europe's No. 4 phone- equipment company, shed 73 cents, or 4.1 percent, to 17.27 euros. |
