The appointment of Kevin Hand as Emap’s new chief executive was met well by the City as shares rose steadily throughout the week reaching 887˝p by close on Friday. This represents a rise of 28˝p from the beginning of the week and also coincides with the announcement of Emap’s new women’s magazine, Red (subscribers see Emap Elan Sees Red).
Whilst BSkyB confirmed its deal with Cable & Wireless to co-operate on the launch of its pay-per-view services, the company’s shares fell 17p between Thursday and Friday closing at 411p. This despite a 4˝p rise on Wednesday following a “market outperformer” rating by Goldman Sachs.
CIA Group remained at 163˝p despite WPP Group and Blugroup taking a further 225,000 shares. WPP began to claw its way back up after last week’s crash, closing at 289p, up 17p from the start of the week.
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