Market sours on telecoms news

Professional Adviser
clock

The FTSE 100 index is off nearly 50 points at 5,183 points after investors reacted to disappointing f...

The FTSE 100 index is off nearly 50 points at 5,183 points after investors reacted to disappointing figures from telecoms equipment bellwether Ericsson. 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 ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on uncategorised

Building Society-owned Newcastle Financial Advisers acquires Openwork firm

First of a number of acquisitions

Hannah Godfrey
clock 09 December 2019 • 1 min read

Bond managers fear hedges being undermined as liquidity dries up

The recent sell off in the bond market and growing liquidity issues have forced bond investors to use similar hedging techniques, undermining their effectiveness and causing concerns about how much downside protection funds really have.

Anna Fedorova
clock 03 July 2013 •

Police launch investigation into mortgage middleman fined £1m

West Midlands Police have launched a fraud investigation into a Birmingham financier over his role in sale and rent back agreements.

clock 25 June 2013 •