Sharewatch: Wireless Group Climbs Ahead Of Results
Kelvin MacKenzie’s Wireless Group saw an optimistic 1.36% rise yesterday ahead of full-year results published this morning. The company’s share price settled at 111˝p as the company prepared to announce a £4.6 million increase in operating profit.
Earlier this month the group’s outspoken chairman and chief executive initiated legal proceedings against RAJAR, claiming damages of £66 million allegedly caused by “flaws” in the audience research body research (see MacKenzie To Claim £66 Million In Damages From RAJAR).
A slow day’s trading in media stocks left many companies with flailing share prices. Emap‘s recent spurt of growth was halted yesterday as the company dipped by 1.20% to 866˝p despite the company’s latest efforts to push its key brands (see Emap Sneaks Back Into Phone Booths With Advertising Push).
Trinity Mirror saw the day’s largest rise, climbing by 3.02% to close at 562p. Last month the newspaper group revealed an increase in revenue and announced plans to raise the coverprice of its flagship Daily Mirror by 3p to 35p (see Daily Mirror Coverprice To Rise As Group Profits Increase).
The FTSE 100 saw a difficult day’s trading, closing up by less than 1% at 4,412.8 while the FTSE 250 also struggled to rise, closing at 6,251.6, a rise of less than 1%.
The closing prices of media company shares on Tuesday were:
