Sharewatch: Carlton Rises After Chairman’s Statement

Carlton was seen in focus after the group’s chairman, Michael Green, said that the advertising market had shown signs of improvement in the first quarter of 2003 (see Carlton Sees Challenging H1 For ITV Ad Revenues). However, Green also warned that it was too early to gauge UK advertisers’ response to the war in Iraq. The stock was seen up 4.13%.

Cable & Wireless was also in focus, after it revealed that it had paid £380 million to the Inland Revenue to settle all its outstanding corporation tax liabilities. The stock was seen up 22.08%.

Overall the media sector experienced a positive day of trading on Tuesday, as the London equity market steadied following Monday’s violent retreat on concerns the war in Iraq may continue for many weeks.

The closing prices of media company shares on Tuesday were: