The main area of movement in the media market was once again the television sector. On Monday Granada rose 7.5p to 798.5p due to rumours of investment presentations and on Friday jumped 14 to 818p. This latter rise was due to comments from Chris Smith, secretary of state for culture, media and sport, that the Government wished to facilitate a speedy switch to digital TV (see today’s Government May Expedite Arrival Of Digital Television). This also helped boost the other TV companies who have interests in digital TV: BSkyB rose 3.5p to 468.5p while Carlton put on 12.5p to 511.5p.
Elsewhere, Reuters rose 6.5p to 698.5p on Friday after buying back 2 million shares at 694p, while Cable & Wireless Communications’ revamp meant a drop of 13p to 242p on Monday and a further fall of 2.5p on Tuesday.
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