Sharewatch: Wireless Group Rises Following RAJAR Boost

Kelvin MacKenzie’s Wireless Group was seen in focus last week, rising by 4.26% to close at 73˝p on Friday, following the revelation of an impressive increase in listening for its national speech station talkSPORT during last week’s RAJAR results.

talkSPORT’s boost in listening was due mainly to its coverage of the Euro 2004 championships, as the broadcaster cashed in on the football fever which gripped the nation during the summer (see RAJAR Results Q3 2004: talkSPORT Boosted By Euro 2004).

Also experiencing growth week on week was Capital Radio, rising by 3.08% to close at 402p on Friday. The group saw a positive performance from its flagship London station, Capital FM, which increased its share of listening in the capital according to RAJAR, despite audiences for Johnny Vaughan’s flagship breakfast show declining during the same period (see RAJAR Results Q3 2004: Capital And Heart Feel The Heat).

Elsewhere, global news and information provider Reuters performed well, rising by 10.98% week on week. Last Tuesday saw the company announce falling revenues, losing 4.4% to £528 million during the third quarter of this year, however the results were ahead of the 5% expected decline (see Reuters Revenues Down 4.4% And Expects A Further Drop In Q4).

The closing prices of media company shares on Friday were: