Sharewatch W/E 28/02/97

News that EMAP’s managing director David Arculus is to leave the group to join United News & Media as its chief operating officer had an immediate effect on both company’s share prices. UNM rose 16.5 to 704p while EMAP lost 27p to 785.5p. Although UNM could not sustain the buoyed price, slipping 8p to 708p on Friday, the appointment still left shares at a higher level than previous weeks when its non-involvement in digital TV had led to a slump.

Maid performed well last week, rallying 36p to 198.5p on Monday, due to news that it would transfer its hotel Internet business to US company Fourth Communications Network in return for 10% of Fourth’s Internet revenue for the next 30 years.

YTTV continued to rise on rumours of a Granada takeover, jumping 32.5p to £12.75, while Granada fell 21.25p to 908.75p. Reed International meanwhile dropped 24.5p to £11.46 due to a strengthening pound against the US dollar.