Sharewatch: BSkyB Sees Rise As Bank Dismisses Worries

Satellite broadcasting giant BSkyB enjoyed a 2.19% rise yesterday to close at 675˝p following reclassification by JP Morgan from ‘neutral’ to ‘overweight’. The bank has also quelled fears that subscriber growth would plateau, claiming that the firm were on target to acquire 8 million subscribers by the end of 2005.

Publishing company Emap also saw a rise, climbing by 0.92 to finish at 880p following speculation that its style and music magazine The Face is to be sold in the near future. The company recently suspended the publication pending a radical redesign but it now seems increasingly likely that the title will be sold to the highest bidder (see The Face Attracts Attention From Potential Buyers).

Specialist magazine publisher, Future Publishing, saw the day’s largest percentage decrease, dropping by 2.21% to 66˝p. The publisher yesterday announced its first foray into multi-media publishing with a one off puzzle magazine and CD-Rom combination allowing readers to complete puzzles on-screen and compete against others online.

Weak performance from Wall Street led to a slip of 0.1% by the FTSE 100, while the FTSE 250 managed a rise of 0.2%.

The closing prices of media company shares on Wednesday were: