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Last Updated: Friday, 6 June, 2003, 15:58 GMT 16:58 UK
Reuters shares rebound
Shares in Reuters, the struggling news and financial information provider, have surged to more than double the level they were at three months ago.

In mid-March shares in the FTSE 100 firm dropped below 1 for the first time in the company's 10-year history on the stock market.

There has been a series of substantial rises since then, as investors warmed to restructuring plans.

Reuters has been hit hard over the past few years by the collapse in technology spending, sharp stock market falls and increased competition from competitors such as Bloomberg and Thomson.

Job cuts

Its biggest customers are investment banks and other financial institutions, which have been among the worst affected by stock market falls.

And several large investments such as Instinet, an electronic brokerage, have struggled to justify themselves in light of the dot.com and stock market crashes.

The restructuring plans involve thousands of job cuts and a refocusing on the most profitable parts of the business.

On Friday, Reuters shares finished the day up another 6% to 194 pence.

This compared with a low of 95.5p touched on 12 March.

At the height of the dot.com boom, in early 2000, Reuters shares were worth more than 15 apiece.


SEE ALSO:
The cause of Reuters' trouble
18 Feb 03  |  Business
Reuters revenue slide continues
16 Apr 03  |  Business
Reuters chief faces pay row
13 Apr 03  |  Business
Job losses escalate at Reuters
19 Feb 03  |  Business
Reuters shares plunge
16 Oct 02  |  Business


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