A drop in the Nasdaq for the third time in four days has had a negative impact on the opening of ...
A drop in the Nasdaq for the third time in four days has had a negative impact on the opening of the Footsie this morning.
UK stocks fell, led by phone and computer-related stocks such as Cable and Wireless Plc, ARM Holdings Plc and Logica Plc.
Royal & Sun Alliance has advanced after the Financial Times reported GE Capital has expressed interest in buying its British life assurance business. Royal & Sun Alliance added 11p, or 2.3 % to 497p.
The Nasdaq fall of 27.77 to 2128.86 points yesterday was a reaction to concern that the economy won't rebound quickly enough to justify April's gains.
Oracle, the third-largest software maker, fell 61 cents to $16.45, as did other software stocks.
BEA Systems lost $1.23 to $33.75, Computer Associates International dropped 75 cents to $28.37 and Siebel Systems fell $2.24 to $41.95.
Wal-Mart Stores gained, lifting the Dow Jones Industrial Average to its first advance this week, as retailers climbed after reporting sales that rose faster than expected in April. The Dow added 43.46 points to 10,910.44. The Standards and Poor's fell 0.36 to 1255.18.
The Nikei 225 stock average rose 26.13 to 14,043.92, after shedding 3.5 percent in the past three days. The Topix index of all shares on the Tokyo Stock Exchange's first section fell 4.49ponts, or 0.3 percent, to 1376.76, after rising as much as 0.5%.
Japanese chip related stocks such as Tokyo Electron Ltd gained after Morgan Stanley Dean Witter and Co. raised the ratings for their US peers on expectations profit forecasts will rise as chip demand improved.
For the week, the Nikkei posted its first weekly loss since the week ended March 30, falling 2.6 percent. The Topix fell 3.3 percent for the week, its biggest weekly loss since the week ended March 2.
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