The Hong Kong stock market crisis last week hit Cable & Wireless hard as the telecommunications company has a substantial interest in the region. On Tuesday its price fell 16 to 517p, dropped 27p on Wednesday to reach 490p and then a further 17p on Thursday.
The Mirror Group initially rose 5 to 219.5p on Tuesday when the Government passed its takeover of Midland Independent Newspapers, though when the buy-terms were slightly altered on Wednesday, the Mirror Group slipped 7.5 to 212p while MIN went up 7 to 217.5p. Meanwhile, Carlton Communications rallied 22p to reach 534p on Wednesday, mainly as the result of pre-result expectation.
Anticipation of WPP’s Wednesday financial statement pushed shares in the group 15p to 288.5p on Tuesday though there was a 7p drop on Thursday to 281.5p. The advertising operation reported a 6% increase in its UK revenue.
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