Government update lifts Autotrader
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The price of shares in FTSE 100 publisher Auto Trader (LON:AUTO) increased by 2.84% to 550.20p (as of 11:40 BST) after the government’s guidance confirmed that car retailers in England can reopen from 1st June. As a consequence, the company will return to charging clients for advertising, although it will continue to discount until the end of June.
CEO Nathan Coe commented: “This recent government announcement is an important step forward for the automotive industry, and we will continue to support our customers as they resume trading. It is encouraging that both our marketplace data and our consumer research suggest healthy levels of demand“.
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