Sharewatch: Emap Dips As Broadcasting Chief Departs
Emap was seen in focus yesterday with shares dipping 0.46% following the surprise the announcement that chief executive of its radio and digital television department, Richard Schoonmaker, is stepping down (see Schoonmaker Steps Down As Emap Performance Boss).
Reuters, the global information provider, was also seen in focus with shares increasing by 4.35% ahead of its trading update on 15 January. The company recently announced it had seen real improvement in the competitiveness of its products (see Reuters Moves Into Profit As Savings Plan Pays Dividends)
The market responded positively to news that Daily Mail & General Trust has become the latest UK media company to fall into line with corporate governance guidelines by pledging to scrap its chief executive’s two year rolling contract. Shares rose by 3.11%.
Elsewhere, global advertising and communications group, WPP, put in a strong performance with stock climbing 2.18% after it was upgraded to “add” by ABN Amro.
The wider market was lifted yesterday as London blue chips broke a two day losing streak. The FTSE 100 added 0.5% to close at 4,494.2 with the mid-cap FTSE 250 1.2% better at 5,915.6.
The closing prices of media company shares on Thursday were:
