Shares in news and information group Reuters continue to trade near their recent high, despite an aggressively upbeat presentation to investors by market data rival Thomson Financial.
Anticipating a slew of new contracts and outsourcing at cost-cutting financial institutions, Thomson Financial executives yesterday set out plans to double the firm's market share in equities and fixed income over the next five years.
As the cheapest of the three main providers of market data news and prices to the financial sector, Thomson expects to benefit from its low-cost pricing model. The recently-revamped Thomson One product offers variable pricing points from $100 - $650 depending on the mix of modules, significantly below the premium pricing of rivals Reuters and Bloomberg.
Thomson's ambitions failed to dent the recent sharp revival in Reuters' share price - buouyed by evidence of a lull in investment banking staff cuts - which continues to trade above 190 pence, up from a year-low of 95.5 pence.