Few bright spots as media <BR>shares take another beating

LONDON - Takeover target Tempus saw its share price regain a little lost ground today finishing the day up 2.1% at 470p, but this was a rare bright point for media stocks in a day that saw them take another beating.

Carlton Communications could not stop its decline, losing 12.5% of its value, falling from 154p to 134.8p during the day.



Another heavy loser was Granada. It saw 6.5p wiped off its share price during trading, falling from 100p to 93.5p.



Maiden Outdoor, which warned it faced a tough second half of the year earlier today, saw its share price drop sharply by 16.2% to 232.5p. This was despite improved half-year profits.



GWR also saw its share price fall after reporting a decline in revenues. It started the day at 172.5p, but finished 3.8% down, at 166p.



Other fallers include Future Networks. Its shares are now valued at just 24.5p - down 14% on the previous day. And Reuters fell by 16.5p to 562p a share.



The only other bright spot in the day's trading was Grey Global, listed on the Nasdaq. Its share price rose 2.5% in morning trading, reaching $525 (£355).




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