Article: Yell makes a big noise on last day in FTSE 100

MARKET REPORT

The Yellow Pages publisher Yell enjoyed a positive send-off from the FTSE 100 yesterday. After a torrid week, when it slumped from an opening price of 161.7p on Monday of last week to 138p on Thursday, Yell soared to an intra-day high of 166.1p yesterday, up more than 20 per cent.

Cyclical concerns about the industry, about the future of directories in an increasingly internet-driven culture and about the company's debt-laden balance sheet, sparked the recent sell-off in Yell, which will join the FTSE 250 today after the recent FTSE quarterly index review.

A feeling that the stock had been oversold, coupled with a realisation that, for all the burden on its balance sheet, the ...

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