Sharewatch: Optimistic WPP Sees Rise Ahead Of Results

Global advertising giant WPP performed well yesterday, rising by 3.82% to close at 489p as the company prepared to unveil record figures at the group, providing further evidence that the prolonged advertising downturn is finally over.

The firm’s chief executive, Sir Martin Sorrell, is expected to cheer embattled investors by revealing underlying pre-tax profits at the group have risen to £230 million, an increase of around 15% on the same period the previous year (see Record Profits At WPP Spell End To Advertising Downturn).

Elsewhere, BSkyB appeared to have put subscriber worries behind it, climbing into significant growth for the first time in two weeks after a nasty bout of investor disquiet over the firm’s failure to meet its self-set targets. The company rose by 1.29% to finish at 471˝p yesterday as the company announced a raft of new interactive services in collaboration with Disney (see Sky Selects Disney For Interactive Games Service).

In publishing, niche magazine specialist Future Network stayed resolutely unchanged as the company began a programme of investment and strengthening for its internet operations, along with a raft of new appointments to increase efficiency and boost the revenue generated by online projects (see Future Publishing Strengthens Internet Operations).

The FTSE 100 rose by 1.1% to 4,350.2 yesterday as city traders fixed their attention on lucrative oil stocks. The FTSE 250 also rose, climbing by 0.3% to close at 5,875.

The closing prices of media company shares on Monday were: