Stockwatch Daily: Dax leads Euro bourse tumble

Infineon recovers from early fall...

Infineon recovers from early fall...

European stocks were weak in early trading, fuelled by falls on Frankfurt's Dax index, but levelled out as business got under way. Infineon recovered from an early morning four per cent fall to rise 1.75 per cent to E27.50 (£16.47). The chipmaker issued a gloomy fiscal forecast after parent company Siemens said it would sell 67.8 million Infineon shares, dropping its stake in the company from 56 per cent to 51 per cent. Siemens fell 0.7 per cent, after a report in this morning's Financial Times claimed the company would sell its plastics machinery and car parts business for up to E2bn (£1.2bn). Nokia also rebounded after an initial 3.2 per cent fall falling last weeks announced lay offs.