Sharewatch: Daily Mail Climbs Ahead Of Results

Daily Mail & General Trust climbed by 1.83% to close at 666p ahead of results announced today showing a 5.4% increase in display advertising revenues in the five months to February. However, the group is still on rocky ground as the Evening Standard saw sales decline by 5% year on year, while daily free-sheet Metro saw its circulation rise by 7% during the same period.

Meanwhile, Reuters made the largest climb yesterday. The global information company gained 6.13% to finish 381p following the publication of its annual report, which revealed that Tom Glocer picked up £12 million in salary and perks last year.

GWR slipped by 0.36% following yesterday’s announcement that the company had increased its stake in Digital Radio Group, the third London digital multiplex, from 23.6% to 30.2% (see GWR Raises Stake In London Digital Multiplex).

Yesterday’s budget announcement reassured the London market, with no increases in tax or duty and economic growth forecasts remaining steady. The FTSE 100 closed up 0.6% at 4,456.8, while the FTSE 250 finished 0.8% higher at 6,209.1.

The closing prices of media company shares on Wednesday were: