Sharewatch: Radio Groups In Focus After RAJAR Results

Capital Radio was the main beneficiary from the latest RAJAR listening figures for the fourth quarter of 2003 with shares rising by 4.28%. GWR saw stock fall by 3.72% and Chrysalis dipped by 2.73% (see RAJAR Results: Q4 2003: Heart Keeps Capital Under Pressure).

Meanwhile, profit takers left their mark on the sector and Reuters dipped by 4% as investors were disappointed by the pricing of the placement of part of its stake in US software group Tibco.

Highbury House Communications, publisher of Front and Fast Car, was also in the spotlight with shares rising by 1.15% after issuing an upbeat trading report showing that its consumer operations were performing well (see Highbury House Profits In Line With Market Forecasts).

London stocks lost ground yesterday as a hint that the US Federal Reserve would raise interest rates sooner than expected triggered a wave of profit taking. The FTSE 100 fell by 1.3% to a six-week low of 4,411.5 and the FTSE 250 dipped by 1.1% to close at 5,965.5.

The closing prices of media company shares on Thursday were: