Markets: Down

Click to follow
Cable & Wireless fell 6 per cent as further turmoil in Asian markets took their toll on shares in the international telecommunications company.

Its Hong Kong subsidiary, Hong Kong's main telephone company, said net profit rose by 12 per cent, below market expectations.

Concern grew about political instability in the Far East after rioting in Indonesia caused stock markets to fall across the region and the Hang Seng index dropped to a three-month low.

Cable & Wireless's full-year results are due on Wednesday and analysts are hoping that strong growth in the US and other parts of the world will offset the effect of the economic malaise in Asia.

Comments