DEBORAH MARCHINI, CNN ANCHOR: Well, the European markets are slipping a little further into minus territory this morning.</s>DAVID HAFFENREFFER, CNN ANCHOR: Yeah, the "Financial Times'" Christopher Swann joins us now with details on the market action this morning. Good morning, Chris, what's taking the markets lower?</s>CHRISTOPHER SWANN, "FINANCIAL TIMES": Well, I think the main drag this morning has been a continued fall in Nokia, that's down another four percent, one of the largest stocks in Europe. Initially the market reaction might seem rather harsh. You might remember that we lost about nine percent yesterday after disappointing sales figures. But it has to be said that Nokia had been the golden boy of the handset makers, consistently outmaneuvering rivals such as Motorola and Ericsson. So the market's taken that news very hard.</s>MARCHINI: In corporate news, we kind of have got an interesting development for Boeing. It lost apparently a big order to a competitor.</s>SWANN: Yes, United -- UPS has placed a very, very large order, indeed, with Airbus Industrie and that the European Consortium is showing, from Boeing's point of view at least, a very disconcerting ability to poach major customers. It's been a very good start to the year for the European Consortium and there's a hot prospect, as well, that they're going to clinch a big deal with FedEx.</s>HAFFENREFFER: We are seeing the euro trading at about 94 cents, why the weakness this morning?</s>SWANN: Well, I think that, after the massive rise that we've seen over the past two months, some retreat was probably inevitable. Since its lows it's still up around 16 percent. I think this is best seen as a period of healthy profit taking, and that should pave the way for further gains over the next couple of weeks.</s>MARCHINI: All right, Christopher Swann, reporting live from the "Financial Times," thank you.
'Financial Times': Nokia Leads European Markets Lower