Sharewatch: Emap Falls On Poor Guidance

Week on week analysis of the media sector revealed a poor performance for Emap, which fell by 8.95% week on week following a cautious earnings report.

The group is forecasting a 3% increase in revenues when its first-half results are issued in November. However, it claims it is premature to suggest that market conditions are improving (see Emap Circumspect In Spite Of H1 Revenue Gains).

Elsewhere, Capital Radio was seen in the spotlight, down 7.44%, after reporting it is expecting a 4% fall in like-for-like airtime advertising revenues for the year ending 30 October, despite a gradually improving environment (see UK Radio Groups See Slight Upturn In Uncertain Market).

Broader market sentiment was dented by concerns over OPEC stemming oil reserves and continued weakness in the dollar. Weakness was also forecast in the property market, which leading commentators have suggested is showing all the signs of a bubble market.

The closing prices of media company shares on Friday were: