Sharewatch: Carlton Rises On Bullish Sentiment

Carlton Communications was seen in focus yesterday, up 1.65% as traders took a positive view of the group’s merger prospects with Granada. The Competition Commission will announce next month whether the £2.6bn deal, which will see the creation a single ITV company, will be allowed to go ahead (see Competition Commission Delays Verdict On ITV Merger).

Elsewhere, Reuters was seen in focus, up 7.56%, after positive forecasts of recovery in the banking sector, which is its key client base, encouraged traders.

The broader media sector was mixed yesterday, following positive data and results from Wall Street, as the corporate earning season gets into full swing. US media giant Viacom has recorded increased profits for the second quarter of the year.

The closing prices of media company shares on Thursday were: