LONDON (ShareCast) - European shares remain sharply in the red.
The German Dax 30 is down 84 points at 5,748, the French CAC 40 is 55 points lower at 3,817 and the Swiss market is down 17 at 6,416.
Swedish telecommunications-equipment giant
Ericsson (Stockholm: ERIC-B.ST - news) tumbled after it reported a 71% decline in net profit to 810m Swedish kronor for the three months to end September. Sales fell 6% to 46.43bn.
'Sales of network equipment declined due to lower demand in the current tougher market environment,' said chief executive Carl-Henric Svanberg.
Shares of rivals Nokia (Stockholm: NOKI-SEK.ST - news) and Alcatel (Paris: FR0000130007 - news) -Lucent are also on offer.
Across the markets, the German DAX is down 83 points at 5,750 with the French CAC falling 48 points to 3,825. The Swiss market is 10 points lower at 6,425.
Swiss food giant Nestle (4707.KL - news) saw nine-months sales slip 2.2% to 79.5bn francs.
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