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Europe mixed, Dax skids
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November 17, 2000: 12:16 p.m. ET
DaimlerChrysler warning dents Frankfurt; technology stocks slide
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LONDON (CNNfn) - European markets closed mixed Friday, with technology stocks leading declines. Frankfurt skidded on automaker DaimlerChrysler's warning that earnings have been dented by its ailing U.S. unit.
The blue-chip CAC 40 index in Paris fell 121.92 points, or 1.9 percent, to 6,161.92, with network equipment maker Alcatel (PCGE) tumbling 6.2 percent and index heavyweight France Telecom (PFTE) falling 4.3 percent. The two stocks accounted for half the point loss.
 Frankfurt's late-trading Xetra Dax lost 88.94 points, or 1.3 percent, to 6,753.17. DaimlerChrysler (FDCX) fell 3.4 percent. The company warned that Chrysler earnings will be lower than expected this year, and said it immediately will parachute in new management as it seeks to retake control of its stalling U.S. business. Rival BMW (FBMW) slipped 2 percent.
London's benchmark FTSE 100 index edged up 9.7 points, or 0.1 percent, to 6,440.1. Telecom equipment company Spirent (SPT) rose for the second session, surging 9.2 percent after Thursday's billion-dollar purchase in the U.S, while internet security company Baltimore Technology (BTM) fell 3.3 percent.
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The AEX index in Amsterdam rose 0.4 percent, Zurich's SMI was little changed at 8,131.0, and the MIB30 index in Milan lost 0.5 percent.
The broader FTSE Eurotop 300 index, a basket of Europe's largest companies, fell 0.4 percent. The index's information technology hardware sector dropped 1.3 percent and the automotive segment fell 1.4 percent.
U.S. markets headed lower midday Friday, with chip-sector stocks under the most pressure. The Nasdaq composite fell 1.7 percent to 2,980.48, while the blue-chip Dow Jones industrial average dropped 62.56 points to 10,593.47.
In the currency market, the euro fell to 85.08 U.S. cents from 85.20 cents in late New York trading Thursday.
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Among European chip and hardware firms, Franco-Italian chipmaker STMicroelectronics (PSTM) shed 4.1 percent while German rival Infineon Technologies (FIFX) dropped 3.7 percent. Semiconductor designer ARM Holdings (ARM) fell 3.3 percent in London and chip-equipment maker ASM Lithography dropped 4.5 percent in Amsterdam.
 Software maker SAP (FSAP) dropped 2.5 percent in Frankfurt while engineering and electronics powerhouse Siemens (FSIE3) declined 2.6 percent.
German heavyweight Deutsche Telekom (FDTE) dropped 3.1 percent, Telecom Italia dipped 2 percent in Milan, and KPN Telecom dropped 6.7 percent in Amsterdam.
Optical-fiber component maker Bookham Technology (BHM) slipped 3.1 percent.
But there were pockets of strength in the London information technology services sector. Sema Group (SEM) jumped 2.8 percent as analysts at UBS Warburg raised their recommendation on the stock to "strong buy" from "hold".
A notable exception to global weakness in the tech sector was German electronics component maker Epcos (FEPC), which rose 2.3 percent.
Changes by MSCI to stock weightings in its indexes were likely to move some shares, strategists said. In its quarterly rebalancing, the index manager added 35 companies and deleted 45 others from its Europe Index.
The major addition was Irish pharmaceuticals company Elan (ELA), which saw its London-traded shares rise 2.2 percent. The stock also is listed in New York.
Internet service provider Freeserve (FRE), recently ousted from the FTSE 100 index after a plunge in its market value, rose more than 8 percent. The stock bounced even though Italy's Tiscali, which has bought Netherlands-based World Online, denied market talk it now is mulling a takeover bid for Britain's leading ISP. Tiscali was unchanged in Milan.
In London, Railtrack (RTR), which operates railroad stations, signals and track, fell 3.5 percent. The company's chief executive resigned just a month after a train crash north of London left four people dead.
-- from staff and wire reports 
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