Sharewatch – W/E 14/03/97

Granada’s announcement on Friday that it was not interested in acquiring YTTV while its price was so high sent the Yorkshire broadcaster’s shareprice tumbling. It fell over 100p from 1280p to 1162.5p while Granada lost 17p to reach 956.5p. BZW’s buy of 19.5 million BSkyB shares from Pearson, Granada and Pathe did not seriously affect the satellite broadcaster’s price. It fell only 1.5p to 631.5p.

There were also a raft of newspaper financial results last week, with United News & Media, Mirror Group and Midland Independent Newspapers all announcing profits. UNM reacted the best, rising 30p to 770.5p on Friday and MIN put on 5p to 155p on Wednesday. The City was not impressed with the Mirror’s performance however, with its price falling 7p to 209.5p.