DAVID HAFFENREFFER, CNN ANCHOR: Let's get a check now on how the European markets are faring on this final trading day of the week.</s>DEBORAH MARCHINI, CNN ANCHOR: Christopher Swann of the "Financial Times" joins us from the "FT"'s London newsroom. Christopher, how does it look?</s>CHRISTOPHER SWANN, "FINANCIAL TIMES": Well, it's been a pretty grim start to trading. I mean, one might have expected this after the 4 percent fall in the Nasdaq, but Europe's been producing its own bad news today. Ericsson came out with some very grim results, indeed. Fourth quarter profits were down 46 percent. They also complained about relatively weak handset sales and said that margins are under pressure. They've also announced that they're going to withdraw totally from handset production, outsource that all. So Ericsson's down about 9 percent. They had an initial knock-on effect on Nokia. That was down 5 percent in early trading. Since then it's recouped a little ground.</s>MARCHINI: All right, and Nokia, of course, trades here in the United States, so that 5 percent gives us some idea of what we could look for in today's trading. All right, Christopher Swann reporting live from the "Financial Times," thanks.
'Financial Times': Ericsson Outsourcing Mobile Phones, Warning on Profits