Sharewatch: WPP Rises On Hopes Of A Short War
WPP was seen in focus yesterday, up 7.82% on hopes that an end to the US-led military attack against Iraq will lead to an increase in advertising.
Elsewhere, investors considered news that creditors of the failed ITV Digital service have been offered just a 2% return on their original investment. Despite this Carlton was seen up 5.10%.
Capital Radio was also in focus, up 1.27% after high-profile DJ Chris Tarrant told the Financial Times he has no plans to leave the station before his contract expires next year.
Investors also digested news from ZenithOptimedia, which reduced its predictions for an advertising recovery, forecasting that a prolonged war in Iraq could make the road to recovery longer (see ZenithOptimedia Downgrades European Ad Forecasts).
The closing prices of media company shares on Monday were:
