News Corp shares up 30%

News Corp shares rose to a 52-week record in the year’s first week of trading – topping the highs it reached before the phone-hacking scandal last July.

In July, when the Milly Dowler voicemail scandal broke, Rupert Murdoch’s company lost nearly a quarter of its market capitalisation (£7 billion) in a four week period.

However, shares are up 30% since last summer. “The market is reacting to strong fundamentals in this business, they reported pretty strong numbers in their September quarter, and the Murdoch discount is declining,” said Collins Stewart analyst Thomas Eagan.

Read the full Reuters article here.