On the up: Reuters

Saturday 17 July 1999 23:02 BST

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REUTERS shares rose as much as 3 per cent after the company said it will not be criminally charged with improperly obtaining data from rival financial information and news service Bloomberg. The shares rose 9 per cent on the week.

Reuters had said that in January 1998 that its US subsidiary, Reuters Analytics, was the subject of a grand jury investigation in New York; a statement that caused the stock to fall 11 per cent in two days. The end of the investigation is set to restore investor confidence in the company.

The shares were also boosted on Wednesday by a strong initial public offering of Reuters' Tibco Software unit, whose products improve online communication between businesses and customers.

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