Sharewatch: Investors React Well To New Aegis Agency
A strong day’s trading saw Aegis rise by 1.87% yesterday as the company unveiled the UK’s largest online buying point with the launch of a new digital media agency to replace the ageing Carat Interactive brand. The global advertising group closed at 82žp as investors warmed to the new Diffiniti brand, which has been created in response to the growing role of new media in the marketing mix (see Aegis Forms UK’s Largest Online Media Buying Point).
Elsewhere, BSkyB rose by 1.91% to close at 480˝ as the broadcaster unveiled a deal with Video Networks Ltd to provide some of its premium channels to the HomeChoice platform. The deal will extend Sky’s reach, making its channels available through satellite, cable and now digital on-demand television (see Sky Boosts Audience Reach With HomeChoice Deal).
Johnston Press was the only media stock to take a dip into negative growth yesterday, losing 1.08%. The newspaper publisher recently sold its remaining 67% stake of Two Boroughs Radio Limited to radio group, GWR, which is now the sole-owner of the Burnley based operation (see Local Radio Group Snaps Up Remainder Of Two Boroughs).
An easing in the price of crude oil led to the FTSE 100 rising by 0.2% yesterday to close at 4,358.7. The FTSE 250 also rose, climbing by 0.4% to close at 5,908.1.
The closing prices of media company shares on Tuesday were:
