Sharewatch: Aegis Drops Following Carat Court Case

Media and communications group Aegis saw a dramatic drop in share price yesterday, losing 2.10% to close at 105p. Last week Aegis-owned media agency, Carat, lost a court case against KR Media as the courts found the company had made claims of illegal client poaching in order to obtain sensitive information about its rival. In its ruling on Friday, the court ordered Carat to pay up to £9,065 per day, until taken documents and data are returned.

Regional newspaper publisher Johnson Press saw a strong performance on yesterday’s market increasing by 3.06% to close at 539˝p. Regional newspapers have been forecast to do well in a recent report by analysts PricewaterhouseCoopers, benefiting as local radio fragments with the rise of digital technology.

Global information providers Reuters continued their upward trend, rising by 1.78% to close at 387p. Elsewhere, Emap advanced by 0.50% to 808p after analysts at UBS reiterated their “buy” rating on EMAP.

The FTSE 100 saw a drop of 22 points to close at 4,818.7, while the FTSE 250 saw a slight decline of 4.8 points to close yesterday at 6,952.4.

The closing prices of media company shares on Tuesday were: