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Thomson Reuters stock soars on rate cut hopes

Tuesday 28 October 2008

Thomson Reuters shares posted solid gains in North America on Tuesday but the strong rally after recent losses came too late to have much impact in London.

The gains in New York and Toronto were attributed to hopes that central banks worldwide led by the US Federal Reserve will cut interest rates soon.

LONDON: TRIL.L ended 8.50 pence or 0.89 per cent higher at 961.50 pence. Range: 927.4999 pence-993.00  pence.

NEW YORK: TRI closed $1.68 higher - 8.26 per cent - at $22.01. Range: $20.32-$22.03. The Dow Jones Industrial Average marked its second-best day ever with a rise of 889.35 points - 10.88 per cent - to 9065.12. The highest rally was on 13 October when the Dow jumped 936.42 points.

NASDAQ: TRIN soared $10.31 - 11.47 per cent - to close at $100.22. Range $88-$100.22.

TORONTO: TRI.TO finished the day up C$2.19 - 8.47 per cent - at C$28.05. Range: C$26.05-C$28.45. ■