Sharewatch: Emap Rises On Strong Results

Emap was seen in focus, up 1.19% after reporting a confident set of first half financial results, which showed pre-tax profits up by 9% to £94 million and turnover up by 7% to £509 million (see Emap Profits Jump 9%, Aided By Strong Consumer Mags).

Elsewhere, Reuters was in the spotlight, down 3.2% on profit taking after its shares hit a 14 month high on Monday.

All eyes will be on The Daily Mail Group today, following reports that it has made a bid for Independent News & Media London papers, despite an earlier attempt to sell them being blocked by regulators.

Broader market sentiment was weakened yesterday by a spate of downgrades in the technology sector and depressed further by a weak opening on Wall Street.

The closing prices of media company shares on Tuesday were: