Sharewatch: UBM Suffers As Media Stocks Struggle

Slow trading hit media stocks yesterday, leading to large dips for most companies, while those that managed an increase struggled to approach the 1% mark. Worst hit was United Business Media, dipping by 3.79% to 495˝.

Also hit was satellite broadcaster BSkyB. A decline in share price of 1.82% put the company down to 673p as worries among traders of poor subscriber levels grow (see BSkyB To Announce Drop In Subscriber Rates).

Emap also suffered a loss of 1.63% yesterday, down to 873p, despite announcing a new focus on online activity to increase revenue stream (see Emap Announces New Interactive Team To Boost Big Brands).

Publishing firm Pearson made the day’s largest rise, as the Financial Times owner climbed 0.88% to 628p.

The FTSE 100 fell by 0.7% to 4,485.4 yesterday as the London markets dipped into the red, while the FTSE 250 slipped further still, falling by 1.3% to 6,264.2.

The closing prices of media company shares on Wednesday were: