IN&M falls on Citigroup report

INDEPENDENT News & Media Plc fell in Dublin trading after Citigroup recommended selling the shares.

IN&M fell 5.1% to €2.87, giving it a market value of €2.1bn. It said on September 18 that first-half profit fell 27% on costs to cut jobs. Citigroup analyst Rogan Angelini-Hurll said the company faces tougher trading conditions in Ireland, where the economy is slowing, Australia and New Zealand.