Sharewatch: Carlton Falls On Bearish Sentiment
Carlton was seen in focus yesterday, down 4.28% as continued concerns over its proposed merger with Granada weighed heavily on the stock.
Senior executives at this year’s Media Guardian Edinburgh Television Festival have suggested that the proposed merger will go ahead even if the Government forces them to sell off their airtime sales houses (see ITV Merger Will Proceed Despite Divestment).
Meanwhile, Hollinger International, the ultimate owner of the Daily Telegraph, was also seen under pressure and reports suggest the group may be forced to sell off assets to meet debt repayments.
Broader market sentiment was mixed yesterday, despite broadly encouraging economic data from the US, which prompted traders to speculate bullish sentiment is drowning in the “bath shaped” recovery.
The closing prices of media company shares on Tuesday were:
