July 6 of the News of the World phone hacking scandal, in which the tabloid is suspected of hacking into the voicemails of Milly Dowler, the family of Soham murder victims Holly Wells and Jessica Chapman.
Coverage of Christine Lagarde's first press conference in Washington as the new head of the IMF.
The broker was also conscious of the fact that advertising agencies have edged back their global advertising spending forecasts for this year, with ZenithOptimedia cutting its forecast in April due to political unrest in the Middle East and the Japanese earthquake.
The advertising agency was not the only media company in the doldrums, though. ITV (Other OTC: ITVPF.PK - news) slipped back despite analysts at Citigroup (NYSE: C - news) reiterating their “buy” rating on the broadcaster.
US stocks were subdued following a broad sell-off in Europe.The Dow Jones Industrial Average is virtually flat at 12569.
London's benchmark index has been sent further into the red by a fresh interest rate rise in China. After the country's inflation accelerated in May to the fastest pace since July 2008, the country raised its benchmark interest rates for the third time this year.
Japan (NYSE: MCO - news) 's benchmark index, the Nikkei 225 rose 1.1pc percent to 10,082.48 - above the psychologically important 10,000 mark for investors, and its highest finish since March 11 when an earthquake and tsunami devastated the northeast coast and triggered a nuclear crisis.
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