Nordic techs slide

Broadly weaker tech shares dragged down Nordic markets on Wednesday as bourse engines Nokia and Ericsson slid on general concerns about corporate earnings.

A weaker overnight close on Wall Street and futures indicating an opening fall later on the day on the tech-laced Nasdaq also helped depress sentiment. Telecoms equipment heavyweight Nokia was off more than three percent and Ericsson fell 0.2 percent.

The region's Stoxx Nordic index was off 1.7 percent at 0955 GMT, underperforming the FTSE Eurotop 300 index by 0.7 percentage points.

Resisting the tech sell off was Norwegian video conference equipment maker Tandberg, which was up half a percent after the company reported record high sales for 2001 after the September 11 US attacks. Tandberg's pre-tax profit almost doubled.

Tandberg was among beneficiaries from the economic slowdown after the attacks as companies cut back on business travel.