Sharewatch: WPP Up Ahead Of Positive Trading Statement

Global advertising giant WPP was seen in focus yesterday, rising by 2.51% to 572p as investors reassured by economic growth forecasts pumped funds into the company ahead of an expected positive trading statement on Monday.

Earlier this month WPP announced its backing of media network KR Media, due to be headed by former Aegis Media Europe chief executives Bruno Kemoun and Eryck Rebbouh. The move gives the start-up firm immediate access to support systems, research studies and media buying tools (see WPP Takes Share In Kemoun And Rebbouh’s Media Venture).

Elsewhere, ITV saw a rise of 1.33% as it was revealed that 70% of the British population had tuned in to watch at least some of England’s heart-wrenching Euro 2004 clash against France earlier this month, according to research from media agency Carat (see More Than 70% Of UK Watched England Versus France).

Radio broadcaster and magazine giant Emap was one of only a handful of media stocks to suffer a dip yesterday, slipping by 0.33%. Yesterday media watchdog Ofcom announced the opening of the application process for new FM radio licences in Edinburgh and Blackburn. Emap could become a front runner for the new licences as an extension of its ‘hero brands’ broadcasting strategy (see Ofcom Puts Edinburgh Radio Licence Up For Tender).

The FTSE 100 inched up by 0.4% to close at 4,503.2 yesterday, while the FTSE 250 finished less than 1% higher at 6,193.9.

The closing prices of media company shares on Thursday were: