Sharewatch: Reuters Rises After Positive Results

Reuters rose 15.17% in week on week analysis to rest at 410p on Friday following better than expected financial results. The group’s operating profit for 2003 came in at £126 million, up from a loss of £144 million in 2002 (see Reuters Results Beat Expectations As Profit Returns).

Meanwhile, Reed Elsevier closed 9.86% higher at 504p, after announcing increased pre-tax profits of £1.01 billion for 2003 (see Reed Elsevier Sees 2003 Profits Rise But Predicts Dip). This prompted Financial Times owners, Pearson, to closed up 6.5% week on week at 623p ahead of annual results due to be realised later this week.

Stocks in beleaguered cable giant Telewest remained steady in week on week analysis despite the recent departure of managing director, Charles Burdick, after less than two years at the company’s helm (see Burdick Steps Down As Telewest Managing Director).

The closing prices of media company shares on Friday were: