Sharewatch
The media sector ventured into positive territory on Thursday after some up-beat economic indicators and news that the US federal Reserve is to keep interest rates on hold.
On the corporate news-front, the radio sector was in focus after the release of RAJAR audience measurement data for the fourth quarter of 2002.
Capital Radio was in the spotlight as investors digested fairly uninspiring RAJAR figures (see RAJAR Results Q4 2002 – Reach Continues To Fall At Capital 95.8 FM). However, the stock was seen up 10.49%, due to the fact that analysts had expected a more dramatic drop in audience share and were encouraged by news the station’s share of listening held firm at 8.8%.
Elsewhere, investors will consider news that advertising and marketing group, Cordiant Communications, has appointed Nigel Stapleton to replace its outgoing chairman Charlie Scott. The stock was seen up 10.64%.
The closing prices of media company shares on Thursday were:
