Sharewatch: Trinity Down Ahead Despite Optimistic Update

Newspaper publisher Trinity Mirror suffered a dip in share prices yesterday, losing 1.37% to close at 613.5p despite a positive trading statement issued yesterday telling investors that the company had achieved a strong performance throughout 2004,

According to the company group circulation revenues for the five months to November 2004 on a like for like basis, excluding the regional titles in Ireland, have increased by 3.3% year on year.The sports and the magazine and exhibition division also continue the upward trend, achieving advertising growth of 14.5% and 2.8% respectively.

Elsewhere Reuters, the global information service have seen their shares increasing by 0.76% to close at 364.25p. The increase could be due to rumours on the trading floor of a shake up of its’ global editorial department.

Consumer magazine giant Emap continued on its downward spiral, losing 1.59% to close at 805.5p. Yesterday its’ main competitors IPC Media announced plans for a dramatic reshuffle of its advertising division, gearing up towards a more unique programme and greater use of tailored ad packages.

The FTSE 100 lost 15.5 points to close at 4,688.4 yesterday, while the FTSE 250 also struggled, losing 16.5 points to close at 6,641.1.

The closing prices of media company shares on Thursday were: