FTSE 100 winning streak ends as WPP shares hit lowest level since 2008 - business live

WPP's 50-share winning streak ends as advertising giant WPP warns that revenue in its third quarter dropped 8.4% compared to the same period last year, and cut its forecast sales for the year, now expecting a decline of 5.5% to 6%. New boss Cindy Rose has called performance "unacceptable" and said the company is taking action to address this.

The FTSE 100 business lost its top spot as the world's biggest advertising agency by revenue to its French rival Publicis last year. However, WPP shares are down 8.6% after it cut its guidance for sales growth this year. The ad group also warned that jobs at WPP could be at risk under new boss Rose's strategic review.

WPP is still the standout on the FTSE 100, with shares now down by about 14.5%. There are fears that jobs at WPP could be at risk under new boss Cindy Rose's strategic review to address "unacceptable" performance at the advertising company.

European stocks are opening broadly lower this morning: London's blue chip FTSE 100 index has fallen by 0.4%. The ad group WPP is the worst performer across the index, with its shares down 8.6%, after it cut its guidance for sales growth this year.

In other news, Chinese electric car manufacturer BYD reported its third quarter earnings, with an adjusted net loss of $1 billion due to increased costs and reduced revenue. The company has struggled to compete with established players in the EV market.

Oil prices have fallen slightly as investors digest the new trade deal between US President Donald Trump and Chinese President Xi Jinping. Brent crude futures dropped by 0.31% to $64.72 a barrel this morning, while US West Texas Intermediate crude futures dropped by 0.33% to $60.28.

man... thinkin' about wpp's slide, makes me wonder what it means for our world . advertising giant just lost its top spot, but still it's a huge player in the market. but at what cost? cuttin' jobs, reducin' revenue... is that really progress? or are we just tryin' to survive in a world where everything's changin'?

and then there's byd, losin' a billion dollars in the third quarter . chinese electric car manufacturer can't compete with established players? what does that say about our obsession with innovation and growth? do we value it over people? it's like, we're chasin' these fancy new technologies without thinkin' about the human impact.

Ugh, WPP is having a major meltdown and I'm not buying the "strategic review" excuse . It's been slipping in the ad game for years and this is just another attempt to cover up their decline . With Cindy Rose at the helm, they're just trying to save face . The fact that jobs are on the line is a major red flag . I mean, who wants to work for an agency that's barely holding on? It's time for them to step up their game or face the consequences

WPP's struggles are quite concerning The advertising industry is already changing so fast . I think new boss Cindy Rose is trying to turn things around , but it's tough . Can't wait to see what changes she brings !

idk how can u expect someone 2 do well in ad with all the algorithm changes thinkin they can just cut costs & hope 4 the best is gonna cut it wpp needs 2 rethink their strategy, prob not just about reducin costs but also innovatin & adaptin 2 new tech

man... WPP's been on fire for ages , but it looks like their winning streak just came to an abrupt end . 8.4% dip in revenue in Q3? that's not good at all . I think they need to shake things up ASAP , maybe even restructure some departments or something. new boss Cindy Rose seems like she's on it too , calling performance "unacceptable" and all . fingers crossed they can turn things around soon . and omg, BYD reporting a billion dollar loss ... those electric car guys gotta step up their game .

OMG, I'm feeling really bad for WPP's team right now They've been on a winning streak of 50 shares and then BAM! Revenue drops 8.4% and they're slashing their sales forecast It's like, what happened?! Cindy Rose is being super honest about performance being "unacceptable" and I love that She's taking action to fix it, but still... it's scary for the future of WPP Maybe this is a wake-up call for the industry?

just saw that WPP's top spot got taken away from them... like what happened? They're still a biggie tho! but 8.4% drop in revenue is crazy and now they're gonna lose some jobs? not cool Cindy, not cool. also BYD's struggling with electric cars hope they can turn it around soon. oil prices are down though maybe that's a good sign for the economy?

man I'm kinda surprised about WPP's results ... like what happened to their ad business? they used to be the best in the world and now they're struggling ... it's not just that they lost the top spot, but also their shares are tanking ... I guess new boss Cindy Rose is trying to shake things up with a strategic review ... but will it work? ... maybe we'll see some layoffs at WPP soon ... anyway, it's definitely not good news for the company or its employees ... and btw, BYD's earnings are pretty concerning too ... oil prices have been all over the place lately

man, its like wpp's been on top for ages but now they're struggling . ad revenue is down and they're cutting jobs which is bad news . i think new boss rose is trying her best to fix things but it's not easy . chinese electric cars are killing the game btw byd's earnings are crazy though, $1 billion loss? that's a lot of debt . oil prices are falling too which is good for the economy . hope wpp can get back on track soon

I'm totally surprised WPP's downfall is being seen as an opportunity for Publicis . I mean, if the ad giant can't even predict its own growth, what does that say about the state of the industry? And yeah, Cindy Rose should definitely be shaking things up, but not by cutting jobs – that's just gonna make things worse. We need more investment in training and innovation to stay ahead of the game. I'm still holding on to WPP shares

I'm not buying into all this innovation hype WPP's struggles show that even the biggest players in an industry can struggle when things aren't going their way. Maybe they just needed a fresh face (Cindy Rose) to shake things up, but 8.4% drop in revenue? That's just a recipe for disaster And now they're warning of job losses? Unacceptable is one thing, but I'd say that's just the tip of the iceberg The ad industry is already changing so fast with all these new tech startups popping up... it's like WPP was caught off guard .

I'm seeing this coming... WPP's decline is like a ripple effect in the industry. I think it's about time they re-evaluate their strategy and adapt to the changing market. The idea of job cuts under Cindy Rose's review is worrying, but let's hope she can bring in some fresh blood and turn things around . Publicis' rise to the top spot is no surprise – they've been making waves with innovative campaigns and a more agile approach to client needs . It'll be interesting to see how WPP responds to this new reality... maybe it's time for them to take a step back, regroup, and come back stronger

Ugh, I just can't believe what's happening to WPP... I mean, it's like they're trying to rewrite the rules of the advertising game or something! One minute they're on top of the world, the next they're getting whacked by Publicis and now they're expecting a decline in sales? It's just so... unpredictable. I remember when Martin Sorrell was at the helm, WPP was like the golden child of advertising agencies. Now it's like they're trying to play catch-up with everyone else. And what's up with this new boss Cindy Rose? I don't know much about her, but if she's calling performance "unacceptable", that's gotta be saying something... Jobs might even be at risk? That's just scary.

Ugh, great, just what we need - another advertising giant struggling . I mean, who needs ad revenue when you can have a bunch of soul-sucking meetings and mediocre creative brainstorming sessions? Cindy Rose better bring her A-game (or should I say, C-game?) if she wants to turn WPP around... good luck with that . And on the bright side, it's not like the world is ending or anything. BYD's net loss isn't exactly a shocker either - who didn't see this one coming? At least oil prices are being a bit more reasonable today... for now.

WPP's woes are giving me all the feels Who needs advertising when you can just meme the problem away? [Distracted Boyfriend](https://tenor.com/gP5C4Ug) trying to find a new job at WPP

I'm feeling kinda meh about WPP's latest numbers . They're saying revenue is down 8.4% and now expecting a decline of 5.5% to 6%. That's not great, Cindy Rose is calling it "unacceptable" . I get it, they want to turn things around, but what's the plan? Cutting jobs might be part of that, which isn't ideal .

On another note, BYD's numbers are pretty concerning . A $1 billion adjusted net loss isn't great, especially for a company trying to compete in the EV market . I'm not sure what's going on with their business model, but they need to figure it out ASAP .

Oil prices dropping is actually kinda good . It'll help keep gas prices down and maybe boost consumer spending. But we'll have to see how this new trade deal between the US and China affects things in the long run .

omg u gotta think wpp is in trouble they're losin money and jobs r gettin cut lol but like cindy rose is all "strategic review" and stuff it's not lookin good for ad agency life, tbh btw china's byd electric car maker is doin worse than wpp whoa $1billion loss