Sharewatch: Emap Rises Following Upgrade

Emap was seen in focus, up 3.23%, after Deutsche Bank upgraded the group to buy from hold and raised its price target to 890p from 840p. Analysts cited the group’s potential for a cyclical recovery, lack of dollar exposure and low valuation.

Elsewhere, BSkyB was in the spotlight, down 0.08%, as Mario Monti, the European Competition Commissioner revealed plans to raise new objections against the satellite broadcasters £1.02 billion contract with English football’s Premier League.

Broader market sentiment was modestly optimistic yesterday, despite lingering concerns over the strength and duration of the economic recovery. Analysts voiced mixed views on the forthcoming fourth quarter earnings season.

The closing prices of media company shares on Wednesday were: