WPP stock tumbles by 7 per cent

By Staff, campaignlive.co.uk, Friday, 03 July 2009 09:35AM

LONDON - Shares in the holding company WPP fell by 7 per cent yesterday, the largest fall in the FTSE 100.

Sorrell... WPP chief

Sorrell... WPP chief

WPP's share price lost 29p to move down to 384.5p on the back of analyst suggestions that its results next month will be disappointing.

Analysts said that while WPP's revenues are expected to recover to a degree in the second half of the year there could be little in the way of growth next year and that the first-half results could show a decline in profitability.

The falling value of the dollar may also have an impact on WPP, analysts said, because it collects a high proportion of its fees in US currency.

WPP, led by Sir Martin Sorrell, was not the only stock to experience a slide yesterday as the FTSE 100 fell 106.4 points to 4,234.3.

This article was first published on campaignlive.co.uk

X

You must log in to use Clip & Save

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus

Additional Information

Campaign Jobs