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FTSE 100 Slides After WPP CEO Departure


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(RTTNews.com) - U.K. shares fell slightly on Monday as Sage extended Friday's losses and WPP's CEO Martin Sorrell resigned in the face of a probe.

Traders also fretted about the prospect of imminent U.S. sanctions against Moscow.

The benchmark FTSE 100 was down 25 points or 0.33 percent at 7,240 in late opening deals after closing up around 0.1 percent on Friday.

Advertising conglomerate WPP fell nearly 5 percent after its CEO Martin Sorrell stepped down following an allegation of personal misconduct.

Sage shares fell over 3 percent, extending Friday's 8 percent loss, after the company cut its annual forecast for revenue growth.

Hammerson rallied 2 percent after Dutch pension fund APG said it would vote against the firm's proposed £3.4bn takeover of rival shopping centre owner Intu Properties.

Whitbread soared 7 percent after Elliott Advisors said it has become the largest shareholder in the company.

Shire rose about 1 percent after it agreed to sell its Oncology business to Servier S.A.S for $2.4 billion in cash.


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This article appears in: Politics , World Markets , Economy , US Markets , Stocks


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