Sharewatch: Capital Rises After Positive Guidance
Capital Radio was seen up 4.05% yesterday after JP Morgan forecast improvements in both audience figures and advertising revenue. According to the broker, the changes that Capital has been making to its shows and programming will improve listener figures in the first half of this year. JP Morgan also noted that the group is well-placed to ride out the depressed advertising market and the threat of war in Iraq.
Elsewhere, Reuters was seen up 2.4% despite revealing that it has lost £370 million on its US brokerage and stock trading business, Instinet.
Investors will be looking for signs of a sustained recovery when French outdoor advertising group, JCDecaux, issues its 2002 revenue figures later today.
The closing prices of media company shares on Wednesday were:
