Sharewatch: Carlton And Granada In The Spotlight

ITV partners Carlton and Granada were in the spotlight after rumours that the Department of Trade and Industry was to reveal its decision on their proposed merger as early as today. The stocks were seen up 0.61% and 2.09% week on week.

However, many analysts believe that the decision will come later in the week as Yom Kippur, the Jewish day of atonement, started last night.

Last week Societe Generale downgraded Carlton from “buy” to “hold” and analysts revealed that the possibility of sales house divestments by Carlton could lead to Granada seeking a renegotiation of terms, which could adversely impact Carlton’s share price.

Elsewhere, Trinity Mirror was seen in focus, down 4.16% week on week. Reports suggest that the list of bidders for the group’s Irish newspapers has been reduced to four, with Independent News & Media sidelined (see Suitors Line Up For Trinity’s Irish Titles).

Broader market sentiment lacked direction last week, as traders await key fourth quarter earnings reports in the coming weeks.

The closing prices of media company shares on Friday were: