Sharewatch: GWR Buoyed By Positive Sentiment

One of the UK’s largest radio groups, GWR, was seen in the spotlight yesterday, rising 5.51% after revealing that pre-tax profits almost trebled during the six months to September (see GWR Profits Treble With Strong Local Group Performance).

Rival radio group Chrysalis saw stocks climb 0.80% higher after claiming it had made a strong start to the current financial year (see Chrysalis Profits Surge As Outperformance Continues). Capital Radio improved by 1.19% after announcing last week that it is seeing signs of slight improvement in the UK advertising sector (see Weak Ad Conditions Push Capital Radio Profits Down 18%).

Meanwhile, the market continued to be dominated by speculation that Richard Desmond, publisher of the Express titles, is considering putting together a bid for The Telegraph, which is owned by Hollinger International.

Daily Mail & General Trust, which is also thought to be considering an offer, was seen down by 0.68%.

Broader Market sentiment was positive yesterday as London shares edged higher with the heavyweight Vodafone keeping the blue chip companies in positive territory. The FTSE 100 closed 0.4% higher at 4,354.7.

The closing prices of media company shares on Tuesday were: