Sharewatch: Reuters Tumbles Following Optimistic Results

News and information group Reuters took a beating yesterday, making the day’s largest fall of 5.9% to 390˝p despite publishing first quarter revenues ahead of expectations. The group saw revenues down 8.4% but had predicted losses of around 9%. The company now expects gradual recovery and a steady reduction in losses.

Broadcasting giant BSkyB also suffered a dip yesterday, slipping by 0.57% to 692˝p as the company announced its first foray into audience measurement. Sky plans to sample the viewing habits of 20,000 households making it the largest audience measurement panel in television history, four times the size of the current BARB panel (see BSkyB Initiative Drives Audience Measurement Forward).

Embattled cable and internet operator, Telewest, was one of only a handful of companies to see a rise. The firm added źp to its share price, equating to a 20% rise. Elsewhere, BT announced it will trial new techniques to increase broadband availability and make high speed internet a possibility for around a million new customers (see BT To Boost Broadband Up-Take With Long Distance Trial).

The FTSE 100 fell from a 20 month high yesterday, losing 0.6% to close at 4,539.9. FTSE 250 also slipped, falling 0.8% to 6,295.5.

The closing prices of media company shares on Wednesday were:

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