The European TV market was downgraded by brokers yesterday, with Carlton and Granada high on the expected casualty list in the event of a slump. Carlton slipped 12p to £1.54 as a result, while Granada ended down 3¾p to £1.00. SMG was also downgraded, due to its level of debt, and its share price also fell, by 1½p to £1.02½.
Despite a trading statement warning of job losses (see More Jobs To Go At Emap Digital), Emap climbed 46p yesterday, to finish at £5.30. The positive mood was echoed at Future Network, where shares climbed 1½p to 28½p.
The closing prices of media company shares yesterday were:
