C&W Communications recovers as boss buys shares
A round-up of the biggest director buys today so far.
News that Cable & Wireless Communications' chief executive bought shares in the company the day it released disappointing results has sparked a recovery in the telecommunications company's share price.
Tony Rice spent nearly £500,000 on shares yesterday taking 1m shares at 49.7p a time, the company announced today.
That helped sparked a rally in the shares, which were hurt yesterday when the company announced a dip in profits in the half year to September 30 against what it described as a 'mixed economic backdrop' across the exotic regions it serves.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Rice was appointed as chief executive of Cable & Wireless Communications in January ahead of its demerger from Cable & Wireless in March.
Pre-tax profits fell to $204m from $223m even as revenues rose to $1.16bn from $1.13bn.
Trading was strong in Macau and Monaco, but weakness in the Caribbean continued to 'negatively affect' trading.
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
How inheritance tax trick is helping families save ‘six-figure sums’
Happy to skip a generation to save thousands on inheritance tax? A deed of variation could be the estate planning tool you need.
-
Nationwide: House prices unexpectedly dropped in August
House prices fell by 0.1% in August in a surprise drop, according to Nationwide, as “affordability remains stretched”