SHARES: UP

Saturday 24 October 1998 23:02 BST

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SHARES in Reuters Group rose 21 per cent after the world's largest financial information provider said third-quarter sales rose a better than expected 7 percent. The improvement came from heavier activity through its stock trading systems and sales of risk management systems.

Sales rose to pounds 761m and, excluding the effect of a stronger pound, revenue grew 10 per cent, beating forecasts. Cost-cutting and mergers in the financial services industry and weakening economies had sparked concern that Reuters' sales would suffer. Instinet's international sales grew 68 per cent while foreign exchange dealing sales rose 1 per cent and information products rose 9 per cent.

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