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COPYRIGHT 2001 Ingram Investment Ltd.
M2 PRESSWIRE-31 January 2001-PRICEWATERHOUSECOOPERS: PricewaterhouseCoopers reveals polarisation in European Internet market (C)1994-2001 M2 COMMUNICATIONS LTD
RDATE:30012001
The value of the European internet sector halved during the fourth quarter of last year, closing the year with a total market capitalisation of EUR100 billion (GBP62bn), eroded by continuing high marketing spend and a loss of investor confidence. These are the findings of the latest PricewaterhouseCoopers Internet 150, a rolling quarterly analysis of cash burn rates and share price performance of the top 150 publicly listed European internet companies, done in conjunction with e-business strategy consultants, Fletcher Advisory.
The PricewaterhouseCoopers Internet 150 dropped by over 60 points over the course of last year, underperforming the FTSE 100, NASDAQ and TechMARK. The fourth quarter saw business to business (B2B) stocks in particular lose ground, losing 51% of their value over the quarter compared to a 38% drop in the value of business to consumer (B2C) stocks. The overall slump masks increasing polarisation between the best and worst performing internet companies in Europe. While the worst performers shed well over 75% of their value, the best performing companies nearly tripled their value. Germany's stronghold on the sector was...
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