Sharewatch: Chrysalis Rises Following Trading Update

Chrysalis radio was seen in focus yesterday, up 2.89% after reporting that revenues rose by 14.8% during the twelve months to 31 August 2003, significantly outperforming the radio industry, which grew by just around 3% over the same period (see Chrysalis Radio Continues To Outperform Industry).

Elsewhere, investors considered reports that AOL Time Warner is to drop AOL from its name in a symbolic move to distance the corporation from its ill-fated merger at the height of the dotcom boom (see AOL Time Warner Set To Drop AOL From Name).

Broader market sentiment was mixed after the dollar sank to a two and a half year low against the yen, although Wall Street was later lifted by some positive economic indicators.

The closing prices of media company shares on Thursday were: