Sharewatch: Capital Falls After Tarrant’s Departure

Capital Radio was seen under pressure yesterday, down 5.03% after breakfast DJ, Chris Tarrant, confirmed he is to leave the station next summer. The news weighed heavily on the stock, despite the fact that Capital has lined up popular presenter Johnny Vaughan as a replacement (see Capital Confirms Tarrant Is To Leave Breakfast Show).

Elsewhere, WPP suffered as traders switched to defensive stocks in the face of continued market turbulence. Shares were down by 2.59%.

Broader market sentiment was dented by lower than expected economic data from the US and continued doubts over the pace and durability of economic recovery.

The closing prices of media company shares on Tuesday were: