Sharewatch: ITV Partners Remain In The Spotlight

ITV partners Carlton and Granada remained in the spotlight yesterday, down 0.71% and 0.66% respectively. The two broadcasters yesterday announced a substantial increase in ITV1’s network programme budget after the Government cleared the way for their £4.2 billion merger. (see ITV Merger Leads To Increase In Programme Budget).

Broader market sentiment was bullish yesterday as UK shares surged to a 13 month high, ahead of what is expected to be a strong set of earnings reports from the US this week.

Over the next few days some of the biggest corporate names, including Coca-Cola, IBM and Ford, will issue third quarter profit reports and investors are expecting good news. In fact, the market was flooded with assertions that the cyclical recovery is under way, the dollar has steadied, metal prices are high and brokers are expecting an upturn in commodities.

The closing prices of media company shares on Monday were: