Stockwatch Daily: European technology shares run into the red

The TechMark 100 opened down 0.7 per cent, and Germany's Neuer Markt also fell 0.6 per cent in early trading. Traditional indices were also showing the strain with the FTSE100, the German DAX and the French CAC 40 all dropping.

The mild losses for the TechMark index hid some wider losses for the large cap stocks: Vodafone, BT and ARM were all down in early trading. The morning's biggest tech loser was Irish security vendor Baltimore Technologies, which gave up 3.3 per cent out of the gate.

Early negative trading in Europe was spurred by signs that the week-long US share price rally has reached its zenith. Despite the Nasdaq gaining yesterday, it closed well below its highest point of the day, and the Dow Jones Index also fell. The Nasdaq closed up eight points or 0.3 per cent, and the Dow Jones fell 82 points 0.7 per cent.