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Sharewatch: ITV Partners Hit By Market Slump
Carlton and Granada were seen under pressure yesterday, down 3.28% and 2.75% respectively as disappointing corporate results combined with talk of an interest rate rise weighed heavily on the market.
The market was alarmed by the release of minutes from the Bank of England’s policy committee, which revealed there was a vote of just 5-4 against a base rate rise.
Elsewhere, Cable and Wireless was seen in focus, down 3.67% as Lehman Brothers cut its rating on the stock to equal-weight from overweight on valuation grounds.
Broader market sentiment was weak yesterday on concerns the market’s recent rally was oversold and a sustained economic recovery remains a long way off.
The closing prices of media company shares on Wednesday were:
