Sharewatch: Aegis Boosted By Plans For Digital Network

Aegis remained in focus yesterday with shares rising by 2.56% as investors digested plans for the creation of a new media network to integrate the company’s £564 million a year digital and interactive advertising business (see Aegis Creates Global Network For Digital Marketing).

The new Isobar Worldwide brand will focus on providing clients with information on how to manage their digital and one-to one marketing efforts on a global basis. It will handle around $1 billion in advertising spend a year and could produce revenues of more than $100 million for the company.

ITV was also in the spotlight with shares climbing 2.42% higher after the broadcaster revealed that its Euro 2004 coverage helped it to see its strongest growth in revenue since the height of the dotcom boom in 2000 (see ITV Hails Euro 2004 A Success As Revenue Soars).

Future Network proved less fortunate with stock slipping by 0.25% despite announcing that revenue for the first five months of 2004 is up by 8%, fuelled by growth in Europe and the United States (see UK Lags Behind Europe And US Growth For Future).

The FTSE 100 index closed down 0.7% at 4,370.7 extending its losing streak to six days, while the FTSE 250 index was off 0.9% at 6,137.5. Volume of trading was 2.8 billion.

The closing prices of media company shares on Monday were: