Sharewatch: Reuters Climbs As New Chairman Takes Helm

Reuters put in a good performance yesterday, climbing 0.57% to close at 395˝p following the announcement that Sir Christopher Hogg will be replaced as chairman by Sir Niall FitzGerald (see Reuters Appoints FitzGerald As New Chairman).

Meanwhile, The Daily Mail Group took the biggest tumble of the day, slipping 1.90% to 671p. The group has reportedly tabled a bid in excess of £550 million to Hollinger International, parent of the Telegraph newspapers and other titles (see DMGT Enters Telegraph Battle As Hollinger Receives Bids).

ITV made efforts to recover from a dip earlier in the week, bouncing back by 0.74% to finish at 135žp following publication of its first post-merger results on Wednesday (see ITV On Target To Save £100 Million From Merger).

Yesterday’s decision by the Bank of England to leave interest rates unchanged did little to sway the market’s cynicism. Many believe May is now the most likely time for a quarter-point interest rate rise. The FTSE 100 closed up 0.8% yesterday at 4,559.1, claiming it’s highest value this year. The FTSE 250 climbed by 0.3% to 6,337.9

The closing prices of media company shares on Thursday were: