Is the thin market to blame for the sharp falls of Provident, WPP and Dixons Carphone this week?
Traders and fund managers are typically away from their desks for most of August which sends trading volumes through the floor
Company
LON:WPP
WPP is one of the world's largest communications services groups. We are made up of leading companies in: Advertising; Media Investment Management; Information, Insight & Consultancy; Public Relations & Public Affairs; Branding & Identity; Healthcare Communications;Direct, Promotion & Relationship Marketing; Specialist Communications
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Traders and fund managers are typically away from their desks for most of August which sends trading volumes through the floor
The FTSE 100 was its gains eroded as the Jackson Hole chinwag got under way
The share price of the clothing seller was soaring in pre-market trade like a giant bird of prey, the name of which I can't recall at the moment. Also featured: Lowe's Companies; Intra-Cellular Therapies; Paratek Therapies; Achaogen; and WP
The FTSE 100 was flat while the pound took another dive against the dollar and the euro
Archive
WPP, Laura Ashley and Anglo Pacific are among the companies scheduled to report to the market on Wednesday
Archive
Very quiet day ahead with only an AGM for System1 Group - formerly known as Brainjuicer - and the University of Michigan preliminary consumer confidence reading for August due
McCain Foods chief executive Dirk Van de Put is to take over from Mondelez boss Irene Rosenfeld, who resigns in November
As a result of UK referendum to leave the European Union, WPP is placing an even greater emphasis on growth in Western Continental Europe, which includes Germany, France, Italy and Spain
The German bank’s analysts have downgraded their rating for WPP to ‘hold’ from ‘buy’ and cut their target price to 1,750p from 1,890p
Mondelez expects a 3% slice off its revenue growth rate for the second quarter
Reckitt Benckiser has cut its full year revenue guidance after a cyber-attack disrupted its ability to manufacture and distribute products
The top-share index finished up on the day and therefore up on the week also
Many business in Europe and the US have been affected by the ransonware attack, known at Petya, this week
Downgrading to 'hold' from 'buy, ShoreCap said they believe WPP’s current valuation "looks fair rather than cheap, and we do not see an obvious catalyst for a re-rating”
The FTSE 100 closed down over 12 points at 7,434 on Tuesday
The pound has plummeted against the dollar on dovish remarks from Bank of England Governor Mark Carney
The Swiss bank's analysts said: “Despite seeing structural threats dampen organic growth, WPP looks well placed to deliver EPS growth, albeit at a slower rate"
The blue chip FTSE 100 index closed 28 points down at 7,449
The Guardian’s website reported that a total of 21.3% of WPP shareholders either voted against Sorrell’s £48m pay package or abstained at the company’s 45th annual meeting
Investments and investor services
FTSE 100 closed below the 7,500 level as traders sit and wait it out..