The FTSE 100 closed six points lower on Thursday at 7,615 with serviced officer provider IWG and estate agency giant Countrywide continuing their slides after issuing profit warnings earlier in the week.
IWG’s share price hit a low of 309.5p yesterday, having started the week as high as 328p, as the world’s largest serviced office group warned profits would be lower than previously expected for the year ahead on Wednesday. The company formerly known as Regus blamed a “weak performance” in the UK for the profit warning which came as the firm is considering numerous takeover bids including from Guy Hands’ private equity firm Terra Firma.
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