17 October 2017
visit www.response.ncr.com

Reuters shares hit new high: Merrill and Thomson deny rift

15 January 2004  |  5682 views  |  0 Reuters Graph 3

Reuters' stock has soared through the 300 pence a share barrier after the news and information group issued an upbeat trading statement confirming expectations of a slowdown in core revenue decline.

Reuters expects that the decline in recurring revenue in the first quarter of 2004 will be 9% or slightly better on an underlying basis compared to the equivalent quarter last year.

Tom Glocer, Reuters group chief executive, said: "I am confident that we have now passed the inflection point in our recurring revenue decline."

Shares in the group soared to 329 pence in early-morning trading, settling at 313.75 pence by mid-morning as profits were taken.

Reuters shares had already jumped in the run-up to the trading statement and were given a further lift yesterday as rumours began to circulate of a rift between Merrill Lynch and rival outfit Thomson Financial over a hotly-contested $300 million dealing room contract. Reuters had pulled out of the bidding for the contract in late 2002 saying that it was not prepared to buy the business at any price.

Merrill and Thomson issued a joint statement yesterday in an effort to quell the rumours: "Contrary to reports regarding the status of a major contract between Merrill Lynch and Thomson, the contract remains firmly in place and the partnership remains stronger than ever."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Instinet to axe 185 jobs in $30 million cost cutting plan

Instinet to axe 185 jobs in $30 million cost cutting plan

09 January 2004  |  3552 views  |  0 comments
Thomson Financial joins Reuters-owned Radianz network

Thomson Financial joins Reuters-owned Radianz network

16 December 2003  |  7103 views  |  0 comments
Reuters' chief forfeits termination pay-out

Reuters' chief forfeits termination pay-out

30 October 2003  |  4217 views  |  0 comments
Reuters revenues fall again

Reuters revenues fall again

27 October 2003  |  7104 views  |  0 comments
Reuters to cut jobs at software development operations

Reuters to cut jobs at software development operations

23 October 2003  |  5926 views  |  0 comments
Moneyline Telerate and Reuters resolve billing dispute

Moneyline Telerate and Reuters resolve billing dispute

17 October 2003  |  4569 views  |  0 comments
Reuters to cut Tibco stake

Reuters to cut Tibco stake

08 October 2003  |  4725 views  |  0 comments
Reuters restructures editorial; Dow Jones launches European NewsPlus

Reuters restructures editorial; Dow Jones launches European NewsPlus

07 October 2003  |  6375 views  |  0 comments
Reuters to move to Canary Wharf; sell Fleet Street HQ

Reuters to move to Canary Wharf; sell Fleet Street HQ

23 September 2003  |  14175 views  |  0 comments
Reuters 'to cut Tibco stake'; Merrill live on FX portal product

Reuters 'to cut Tibco stake'; Merrill live on FX portal product

22 September 2003  |  5697 views  |  0 comments
TradeWeb moves into Scandi bonds as Reuters rumours persist

TradeWeb moves into Scandi bonds as Reuters rumours persist

08 September 2003  |  4932 views  |  0 comments
Reuters pulls out of bidding for Merrill contract

Reuters pulls out of bidding for Merrill contract

12 November 2002  |  4442 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.vasco.comvisit www.capgemini.comvisit www.temenos.com

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
14971 views comments | 12 tweets | 4 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
8228 views comments | 15 tweets | 21 linkedin
hands typing furiouslyHow artificial intelligence can deliver a...
7658 views 0 | 7 tweets | 9 linkedin
satelliteGates Foundation backs Ripple collaboratio...
6957 views comments | 13 tweets | 7 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
6203 views comments | 8 tweets | 16 linkedin

Featured job

Competitive base, commission, benefits
London, UK

Find your next job