Shares slump at Thomson Reuters and Reed Elsevier

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It’s been another disappointing morning for some of the UK’s biggest publicly listed media companies.

Shares in Reed Elsevier have fallen 8 per cent to 497p this morning following reports that the sale of B2B arm Reed Business Information has hit the rocks now that financing is hard to come by.

Thomson Reuters fell 8.7 per cent to 1015p by 11am this morning. The financial news provider has seen its share price suffer amid concerns that redundancies in the City will mean fewer clients for its trading terminals and data services.

ITV fell 10 per cent yesterday after investment bank UBS cut its target price in the face of a weakening economy and bleak advertising market. By 11.20am this morning, ITV shares had begun to recover, up 5 per cent to 36.75p.

Johnston Press dropped 20 per cent yesterday to 39p after Citibank said the regional newspaper publisher posed a potential refinancing risk. Shares this morning were up 0.25p.

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