DAVID HAFFENREFFER, CNN ANCHOR: Let's get a check now on how the European markets are doing right now.</s>DEBORAH MARCHINI, CNN ANCHOR: Here's Philip Coggan of the "Financial Times" -- and Philip, I gather it's not such a great day for tech stocks today.</s>PHILIP COGGAN, "FINANCIAL TIMES": No, that's right, Deborah. We've got weakness in the TMTs all over again today, and it's really due to three bits of bad news from the corporate sector. First of all, Deutsche Telekom's just come out with its four year figures, and they show a much bigger than expected fourth quarter loss, of a billion euros. The market was expecting just 400 million euros. Seems to be due -- due to bigger costs at its T-Online mobile phone arms. Then we've had SAP, the German software company. It said it'll take a quarter longer than expected to hit its target of doubling 1998 sales figures, its shares also down. We also have a profit warning from Sema, the Anglo-French software group. Well, it's the second profit warning from that group in the last couple of months. Any business link to the mobile phone industry also looking bad. Nokia has been downgraded to a sell by Dresner Climort Wasserstein (ph), and also there's some concern about that Texas Instrument warning you just mentioned which has obviously affected sentiment towards the mobile phone stock. So that's left the main indices in Europe pretty much all down by .5 to one percent so far today.</s>MARCHINI: All right, Philip Coggan, thanks a lot, reporting live, from the "Financial Times."
'Financial Times': Trouble for European Techs Today