A profits warning from technology company Ericsson and a bad start from the US Nasdaq index prompted a dismal day for UK TMT stocks, with the majority ending down on the previous day’s close. Of the handful whose shares increased, the gains were negligible, with the best performer, Emap rising just 9p or a little over 1p to £8.50.
Internet companies were, predictably, among the worst hit, with Bright Station falling 4½p to 24¾p, a drop of more than 15%. Other major falls were seen at Reuters, which dropped 53p to £9.87 and SMG which ended down 12p at £2.23.
The closing prices of media company shares yesterday were:
