The FTSE 100 index is off nearly 50 points at 5,183 points after investors reacted to disappointing f...
The Swedish company was unable to match rival Nokia's upbeat statements of yesterday.
The telecoms sector was already nervous following Enegis' shock profits warning yesterday, not made any better by another profits warning from Fibernet this morning.
This was enough to drive London down, despite upbeat comments from Federal Reserve Bank chairman Alan Greenspan yesterday, which pushed indices there up by the close.
The Dow Jones Industrial Average index gained 65.11 points by the close to end at 9,796.07, while Nasdaq's Composite index gained 20.20 points to finish the day at 1,942.58.
The US optimism spread to Asia this morning, as Tokyo's Nikkei 225 index closed up 70.09 points at 10,144.14.
Hong Kong's Hang Seng index closed ended down 18.08 points at 10,723.38.
Currently, the FTSE board is overwhelmingly red, as 84 stocks are registering share price losses.
Cable&Wireless leads the loser pack, down 12.25p at 296.75p.
Things are better for advertiser WPP, which has gained 20.5p to 721.5p.
In the FTSE 250 index, Energis continues to lose ground, down another 4p at 19p today as questions continue as to whether the company can survive in its present form.
Fellow telecoms related stocks Kingston Communications - down 13p at 100p - Colt Telecom - down 6.5p at 86.5p - and testing equipment manufacturer Spirent - down 8.25p at 165p - are also looking bruised.
Thus is an exception, having put on 1.25p to 37p.
Growth driven by platform business
No preferred charging model
To 1,552 families and businesses
HL and Liberty SIPP slowest
Lifetime and annual allowances