Morgan Stanley's Doubts Put Reuters On the Rack

Evening Standard - London (September 23, 2004)

Author: Mickey Clark

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Summary

BUSINESS remains tough in the stock market and that could result in yet more delay in the expected recovery at Reuters, one of the Square Mile's biggest suppliers of financial information systems.

Reuters was the heaviest faller among the top 100 companies today, losing 10p to 320p as US securities house Morgan Stanley cut its target from 345p to 335p and slashed its earnings forecast for next year by 15% to 16.8p a share and for 2006 by 10% to 23.6p.

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Extract

Morgan Stanley's Doubts Put Reuters On the Rack

It has also reduced its estimate of revenue growth for 2005 from minus 0.6% to minus 1.6%, blaming weaker sales in recent months and the del...

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