Sharewatch: WPP Slides After Weak Results

WPP was seen under pressure, slipping 0.87%, after posting a weak set of results (see WPP Profits Fall 50% In The Face Of Recession). However, the fall in share price was reasonably small, as the results were slightly ahead of bearish market expectations.

Chief Executive of WPP, Sir Martin Sorrell, also warned the prospect of war with Iraq is delaying the end of the advertising recession.

Trinity Mirror was also in focus as it emerged that new chief executive, Sly Bailey, is to undertake a strategic review of the group, which is expected to bring an end to the controversial price cuts at the Daily Mirror. The stock was seen up 2.41%.

The closing prices of media company shares on Monday were: