Reuters had a volatile week, rising 15p to 701.5p on Tuesday but then dropping 20 on Wednesday as a result of market opinion that the company’s stocks had perhaps been overpriced in the past month. News that it had bought Hardwick Stafford Wright, an information supplier to the mutual fund industry, failed to rally the price and it slumped to 672.5p on Friday.
Carlton Communications, appearing sensitive to the strength of the pound, fell 15.5 on Wednesday to 522.5p as sterling rose to over $1.64. Strong results from Scottish Radio pushed the broadcaster up 8.5 to 405p on Wednesday, while Capital Radio benefited from news that Richard Eyre had become its new chief executive. The radio group rose 15 to 553.5p on Wednesday. Pearson dropped 20 to 702.5p on Thursday on rumours that an investment house was selling shares and United News & Media rose slightly after a bullish trading statement was issued at its AGM. Shares rose 3p to 775.5p but then fell back to 770.5p by the close of trading on Friday.
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