Sharewatch: Forecasts From Aegis Lift Media Sector
The media sector was cheered yesterday after Aegis, the media sales and market research group, raised its forecasts for advertising growth this year amid signs of improving corporate confidence (see Aegis On Track To Deliver Strong Growth This Year).
Daily Mail & General Trust was seen in focus up 0.8% following news that it and other potential bidders for the Daily Telegraph could face an extensive public interest test from media regulator, Ofcom, which published guidelines on media mergers yesterday.
Elsewhere, Emap was in the spotlight with shares dipping by 0.35%. The group has revealed that its eagerly awaited new men’s lifestyle magazine will be called Zoo Weekly and will launch at the end of the month with the support of a major advertising campaign (see New Emap Men’s Magazine To Be Called Zoo Weekly).
Broader market sentiment was subdued yesterday. However, the FTSE 100 was buoyed by telecoms stocks and finished up by 3.1 points to close at 5.837.6.
The closing prices of media company shares on Monday were:
