The raft of financial results announced last week caused moderate share price changes amongst the newspaper and television markets.
The main news was the announcement of a joint venture between BSkyB and Scottish Television alongside STV’s report of record profits *STV Announces Record Profit. This put STV shares ahead by 3p to 702.5p on Thursday – a price which was maintained on Friday. BSkyB however benefited more, rising 8.5p to 571.5p.
United News & Media performed better than expected on Thursday, reporting profits of £151.9m *United Sees Profits Rise 21.5%. As a result its share price rose 6p to 711.5p, though on Friday it settled at 709p.
Mirror Group also announced strong results last week: with profits rising 2.9% to £39m *Mirror Group Profits Rise By 2.9%, the share price increased 11.5p to 218.5p.
* MediaTel subscribers only
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