This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/business-33817310
The article has changed 3 times. There is an RSS feed of changes available.
Version 0 | Version 1 |
---|---|
FTSE 100 rises, but ITV shares hit by US media sell-off | |
(about 4 hours later) | |
(Noon): ITV shares fell as the impact of the sell-off in US media stocks was felt across the Atlantic. | |
In the past couple of days, shares in US media giants Viacom and 21st Century Fox have tumbled on signs that their cable TV businesses are struggling. | |
Shares in ITV - which has been buying US production studios - fell 3%, making it the biggest faller in the FTSE 100, | |
The FTSE 100 was 6.37 points higher at 6,753.46, having spent most of the morning in negative territory. | |
Investors were expected to remain cautious ahead of the release of key US jobs data. | |
The monthly non-farm payrolls figures are seen as an important indicator of the strength of the US economy, and could influence the timing of a US interest rate rise. | The monthly non-farm payrolls figures are seen as an important indicator of the strength of the US economy, and could influence the timing of a US interest rate rise. |
The US Federal Reserve head, Janet Yellen, has already said rates are likely to rise by the end of the year. | The US Federal Reserve head, Janet Yellen, has already said rates are likely to rise by the end of the year. |
In the FTSE 250, shares in bookmaker William Hill fell 7.3% after it reported a 35% drop in half-year profits, after being hit by changes to betting taxes. | |
Among the small-cap firms, shares in UK Mail dived 13% after it issued a profit warning following problems with a move to a new parcel sorting facility. | Among the small-cap firms, shares in UK Mail dived 13% after it issued a profit warning following problems with a move to a new parcel sorting facility. |
The company said its full-year results would be "materially below current market expectations", with underlying pre-tax profit now expected to be £10m-£12m. | The company said its full-year results would be "materially below current market expectations", with underlying pre-tax profit now expected to be £10m-£12m. |
On the currency markets, the pound edged up 0.05% against the dollar to $1.5519 but slipped 0.05% against the euro to €1.4197. |