Sharewatch: Wireless Group Rises On Strong Results
The Wireless Group was seen in the spotlight yesterday, up 16.13% after reporting its first ever half year profit. The group was further lifted by positive guidance from management, which revealed it is confident that the company will go from strength to strength in the near future.
Telewest was seen in focus, up 28.57%. The stock has been boosted by rumours that NTL, the American owner of the UK’s largest cable network, is set to revive hopes for a merger with the struggling telecoms group.
Elsewhere, the market was lifted by evidence of economic growth in the US, but dented by a fall in the ISM employment index. Further evidence of this ‘jobless recovery’ is likely to weigh heavily on consumer confidence, long seen as the lynchpin of economic recovery.
The closing prices of media company shares on Tuesday were:
