Sharewatch: Capital Radio Rises As Traders Squeeze

Capital Radio was seen in the spotlight yesterday, rising 5.97%. However, dealers have attributed the increase to a squeeze in low volume trading.

Elsewhere, BSkyB was also in focus, up 2.13% following chief executive, Tony Ball’s, tour de force at last weekend’s International Television Festival, in which he made numerous bullish comments about the Sky and criticised the BBC for its “executive vanity” (see NewsLine Column: James MacTaggart Memorial Lecture).

Broader market sentiment was seen mixed yesterday, as the summer season continues to cause a lull in trading activity, which has seen volumes remain very low. All eyes will be on today’s US jobless data and gross domestic product figures, which are expected to provide direction for the directionless market.

The closing prices of media company shares on Wednesday were: