Reuters' ADRS Fall On Downgrade Reports Of Dealing 2000-2 Delays
TECHNOLOGY
Reuters Holdings PLC's American depository receipts (ADRs) took a nosedive last week after an analyst at Wertheim Schroder had downgraded the stock. The analyst, Michael Ellman, acted in response to reports that beta testing of the company's order-matching system for foreign exchange trading, Dealing 2000-2, had been delayed (FX Week, Aug. 17).
Dow Jones reported on the morning of Aug. 16 that Reuters ADRs had dropped "nearly 8 percent", to 53 1/8 in over-the-counter trading. By the close of the
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