Sharewatch: Daily Mail Rises On Cyclical Surge

Daily Mail and General Trust group was seen in the spotlight, up 3.38% as cyclical stocks benefited from the FTSE’s surge.Independent News & Media was also in focus after announcing a €53.5 million worldwide restructuring plan intended to reduce debts over the next twelve months (see Independent News & Media Cuts Jobs To Save On Costs).

Broader market sentiment was boosted by solid economic data from the US, but continued dollar weakness continued to weigh on sentiment and the dollar hit a record low against the Euro. The Euro has gained more than 18% against the dollar this year.

The closing prices of media company shares on Thursday were: