With Tokyo on its back, London in a nosedive and trading in IBM Corp shares starting late because so many people wanted to sell after analysts started downgrading their forecasts for the year, there was not much likelihood that the plan to buy Dowty Information Systems and raise much of the purchase price with a rights issue would be greeted warmly, and when trading resumed in Cray Electronics Holdings Plc shares yesterday, they slipped a couple of pence to 73p.
