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Europe ends lower again
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January 10, 2002: 12:51 p.m. ET
Tech and telecom stocks push markets lower; Vodafone, D.Telekom big losers
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LONDON (CNN) - European markets ended lower on Thursday, led by tech and telecom stocks, following a weak opening on Wall Street.
London's FTSE 100 fell 0.7 percent to 5,190.7 and the CAC 40 blue chip index in Paris dropped 1.6 percent to 4,515.52, while Frankfurt's electronically traded Xetra Dax was down 1.6 percent to 5,201.40 in late trading.
The pan-European FTSE Eurotop 300, a broader index of the region's largest stocks, fell 1 percent. Among the hardest hit sectors were computer services, telecommunication, electronics, auto and media.
British chip designer ARM Holdings (ARM) fell 3.3 percent and UK software company Logica (LOG) lost 3 percent, while German computer software giant SAP [FRE:SAPG] was down 2.9 percent in late trading.
Vodafone Group (VOD), the world's biggest mobile phone operator, fell 3.7 percent after its U.S. joint venture Verizon Wireless signed up fewer customers than analysts expected.
Deutsche Telekom (FDTE), Europe's biggest phone company by sales, was down 3.7 percent in late Frankfurt trading, while Orange (ORA), Europe's No.2, lost 1.9 percent in Paris, and Europe's fifth-biggest wireless operator Mmo2 (OOM) dipped 0.6 percent in London.
Sweden's Ericsson, the biggest supplier of third generation wireless infrastructure, lost 2.7 percent in Stockholm. Finland's Nokia, the world's biggest mobile phone company, was off 1.8 percent in Helsinki.
Alcatel (PCGE), France's biggest phone equipment maker, fell 3.9 percent, extending its losing streak to three sessions.
Dutch electronics giant Philips fell 4.8 percent, after jumping 4 per cent on Wednesday.
DaimlerChrysler (FDCX), the world's third-biggest car maker, was down 3.7 percent in later trading in Frankfurt after executives told analysts at the Detroit auto show that the U.S. Chrysler unit may miss its 2002 profit target. DaimlerChrysler denied finance chief Manfred Getz made the claim.
In the media sector, French group Lagardere (LAGA) was the top loser in Paris, plunging 4.9 percent after Morgan Stanley downgraded the stock to "neutral" from "outperform" and cut its 2002 earnings forecast.
The top loser in London was the Daily Mail newspaper group (DMGO), dropping 5.8 percent, followed by television group Granada (GAA) which fell 5.2 percent.
In Amsterdam, the AEX index was down 1.32 percent and Milan's MIB30 index fell 2.2 percent lower, while the SMI in Zurich was flat.
In the U.S., Wall Street was lower in early trading on Thursday amid concerns the market has rallied too far since September and that the economy may not be recovering as quickly as expected.
The Nasdaq composite index lost 6.85 points, or 0.3 percent, to 2,038.31, while the Dow Jones industrial average dropped 37.44 points, or 0.4 percent, to 10,056.65. 
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