Sharewatch: Emap In Focus Ahead Of RAJAR Results

The radio sector was seen in focus yesterday ahead of today’s data release from RAJAR. Emap was seen up 2.24% and Capital Radio was seen up 2.11%. Chrysalis was also in the spotlight and continued to rise following a strong set of results (see Chrysalis Radio Outperforms Industry). The stock was seen up 0.48%.

Elsewhere, Cordiant continued to decline, down 7.41%, as analysts declare that talk of take-over bids maybe overblown and that it would be more economically effective for the company’s rivals to simply pick off its key clients as it declines. The the loss of blue chip client Allied Domecq plunged the stock into turmoil last week (see Cordiant Bounces Back As Short-Term Funding Is Agreed).

However, it was economic news which dominated market sentiment yesterday, after the hugely influential US Federal Reserve warned of the possibility of economic weakness ahead. Analysts viewed the warning as a signal that the Fed is prepared to cut rates as early as next month, which may spur a similar action from the European Central Bank.

The closing prices of media company shares on Wednesday were: