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| Version 0 | Version 1 |
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| FTSE 100 falls as WPP shares hit by cautious outlook | FTSE 100 falls as WPP shares hit by cautious outlook |
| (about 4 hours later) | |
| Advertising giant WPP led the London stock market lower after it gave a cautious outlook for the year ahead. | Advertising giant WPP led the London stock market lower after it gave a cautious outlook for the year ahead. |
| WPP shares fell 7.7% after it said 2017 had got off to a slow start, citing "continued tepid economic growth". | |
| The comments overshadowed news of record annual revenues of £14.4bn, which were helped by last year's fall in the value of sterling. | The comments overshadowed news of record annual revenues of £14.4bn, which were helped by last year's fall in the value of sterling. |
| WPP was the biggest faller in the FTSE 100, with the index down 16.11 points at 7,366.24 shortly before midday. | |
| In the FTSE 250, shares in WH Smith rose 3.3% after Barclays upgraded its rating for the retailer to "overweight" from "equal weight". | |
| But the biggest mover in the FTSE 250 was workwear and hygiene company Berendsen, which slumped 17% after it warned on its 2017 outlook. | |
| The firm reported improved profits and sales for 2016, but said it would struggle with "legacy issues" this year. | |
| On the currency markets, the pound fell against other currencies after the survey of the UK's dominant service sector added to evidence that the economy has slowed since the start of the year. | |
| Sterling was down 0.3% against the US dollar at $1.2225 and dropped 0.7% against the euro to 1.1599 euros. |