Sharewatch: Chrysalis Boosted By Positve Revenue Update

Chrysalis Radio was seen in focus yesterday with shares rising by 3.35% to close at 192žp after announcing that like-for-like revenue increased by 20% in the 10 months to 30 June 2004. This is against the backdrop of a market which grew by 8% growth over the corresponding period (see Chrysalis Continues To Outperform Radio Market).

Rival radio groups Capital Radio and GWR were also in the spotlight as rumours re-emerged that they could be discussing plans for a potential £840 million merger in the newly deregulated market. Shares rose by 0.53% and 0.66% respectively.

Elsewhere, Aegis saw shares rise by 0.59% to close at 84žp after announcing the acquisition of the Greater China digital marketing company, World Wide Web Integrated Net Solutions, to become part of its recently launched digital one-to-one network (see Aegis Creates Global Network For Digital Marketing).

Trading on the benchmark FTSE 100 was marked by moderate declines for leisure, energy and beverage stocks. The index finished flat, down just 2 points at 4,357.7, while the midcap FTSE 250 rose by 0.4% to 6,109.4. Volume was 2.4 billion.

The closing prices of media company shares on Tuesday were: