Sharewatch: Trinity Falls On Poor Results

Trinity Mirror was seen in focus yesterday, down 2.18% following the announcement that advertising conditions have remained volatile at the group during the last six months, with a 0.6% increase in Q1 being offset by a 0.4% decline in Q2 (see Advertising Remains Volatile At Trinity Mirror).

Meanwhile, the knives were out after Chris Evans was reportedly branded a liar and a prima donna yesterday, by a high court judge who threw out his multimillion pound claim against Virgin Radio and ordered him to pay costs and damages. SMG was seen up 1.86% following the news (see SMG Triumphs Over Evans In High Court Battle).

Granada was also in the spotlight, up 2.64% after Deutsche Bank placed the stock on its European list of top stock picks.

Broader market sentiment was mixed yesterday as the dollar gained broadly against the yen and reached a new one month high against the Euro. However, profit warnings and the continued cloud of illicit corporate behaviour weighed on the market.

The closing prices of media company shares on Thursday were: