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Article: Daily Mail, London, Market Report.
- Article from:
- Daily Mail (London)
- Article date:
- April 10, 2002
CopyrightCOPYRIGHT 2002 Daily Mail. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Geoff Foster
Apr. 10--How the mighty have fallen! Vodafone fell 27 percent in the first quarter, lop-ping more than 180 points off the Footsie. Every 1 pence drop in the super heavyweight accounts for a three-point loss in the index.
Yesterday, the pain continued for long-suffering shareholders of the mobile phone giant, who have watched the stock collapse from a 2000 peak of 399 pence.
Hungry bears continued to call the tune as the shares slumped 5 3/4 pence more to a low of 121 pence. Many more investors ran for the exit after ABN Amro slashed its fair value target to 149 pence from 180 pence. It maintained its "add" advice and price ...