Sharewatch: Independent Rises With Tabloids In Focus
Independent saw last week’s largest rise, climbing by 3.59% to close at 158žp on Friday, as news of tabloids and compact editions dominated headlines.
Amongst the week’s news was the reveleation of a research partnership between The Independent and The Times, designed to investigate the advantages of small-form newspapers and boost advertiser confidence. The Times also surprised many by dropping publication of its broadsheet edition from Monday to Saturday, leaving only the Sunday Times printing as a broadsheet (see Times Confirms Tabloid Only Publication From Monday).
Elsewhere, advertising heavyweight WPP saw a strong performance in week on week analysis, adding 2.05% to close at 645˝p on Friday following last week’s announcement of revenues topping £1.06 billion. The results mark the first time the company has broken through the billion-pound barrier in a three-month period (see WPP Revenues Exceed Expectations And £1bn Barrier).
ITV also performed well, adding 2.15% in the run up to today’s launch of ITV3, the broadcaster’s newest digital channel designed to attract a more discerning older audience. Last week ITV unveiled the branding to be used by the new channel, as well as revealing a solus advertising deal with Unilever for the station’s first commercial break (see ITV Secures First Advertiser For New Digital Channel).
The closing prices of media company shares on Friday were:
