Sharewatch: Aegis Strong After Positive Trading Statement

Media communications and market research group Aegis saw share price increase yesterday, going up by 3.23% to close at 103žp. This positive climb comes a head of the company trading statement in which Aegis said that they were confident that full-year results would be in line with its previous expectations and that the company is well placed to deliver further growth in 2005.

Magazine publisher Highbury House saw the biggest tumble in share price, dropping a dramatic 16.13% to close at 6˝p. This comes after a delivering a negative trading statement to investors, indicating that a number of the magazines in its portfolio will face closure or consolidation next year as the company seeks to cut costs and recoup some of the revenue which evaded it during 2004 s(see Highbury To Close Titles As 2004 Proves Unsuccessful).

Elsewhere, satellite giant BSkyB continued its downward trend losing 1.00% to close at 546˝p, while rival television company ITV lost 1.17% to close at 105˝p.

The FTSE 100 gained ground yesterday, adding 1.9 points to close at 4,733.0 while the FTSE 250 performed admirably, climbing by 21.0 points to 6,810.9.

The closing prices of media company shares on Tuesday were: