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Labour: 'Troubling' Mirror claims

Labour shadow culture secretary Harriet Harman has said she finds news that four people are taking action against the publishers of the Daily Mirror over alleged phone hacking as "troubling."

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Trinity Mirror shares fall by 12% after hacking claims

As news emerged that four people have issued hacking claims against Mirror Group Newspapers, its owner Trinity Mirror's shares fell 12% today, reversing some of the recent strong gains for the stock.

Shares in the group were down 12 percent at 63 pence at 0725 GMT, according to Reuters.

Johnathan Barrett, an analyst at N+1 Singer, said:

The shares have been very strong and buoyed by an improved nationals advertising market and the likelihood of greater cost savings in 2013.

The claims will weigh on the shares, in part because many had assumed the subject was fading away as an issue.

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