Sharewatch: Trinity Rises As Bailey Triumphs

Trinity Mirror was seen in the spotlight, up 1% in week on week analysis after a leading US investor reportedly expressed faith in the company’s chief executive, Sly Bailey, and retreated over its calls for the group to sell off its national newspaper titles.

The New York-based investment firm, which holds a 5.5% stake in Trinity Mirror, is believed to have said there was evidence that Bailey has ‘made the right decision’ to hang onto the group’s national titles.

Elsewhere, the Carlton and Granada merger saga continued to develop, with David Elstein, the former head of Channel Five, making the headlines again with news of backing for his ITV coup from US entertainment firm, Hallmark.

Investors have dismissed the reports as a PR stunt designed to raise Elstein’s profile. Carlton and Granada were seen down 10% and 8.94% respectively in week on week analysis.

Broader market sentiment was weak last week as markets paused to remember the terrorist attacks of 11 September.

The closing prices of media company shares on Friday were: