Sharewatch: UBM Falls Ahead Of Acquisition

United Business Media was seen under pressure, down 1.62% yesterday, after failing to impress the market with the acquisition of Builder Group, the construction magazine business (see UBM Builds Up Portfolio With Aprovia Acquisition).

Elsewhere, Cable & Wireless was seen in the spotlight, down 4.64%, after its chief executive revealed that the restructuring process recently put in place will take a long time to feed through to the company’s results.

Broader market sentiment was mixed yesterday as investors await the beginning of the next earning season.

The closing prices of media company shares on Monday were: