SCOTS STOCKS: Media sector boosted by glimmer of hope on advertising

Published on Monday 6 April 2009 21:08

SCOTLAND'S listed media companies rose on a report from industry body IPA that the decline in advertising spending was slowing.

Shares in Johnston Press, owner of The Scotsman, rose 15.8 per cent to 8p while Glasgow-based STV Group lifted 1.1 per cent to 47p.

Elsewhere, John Menzies, which has announced improved contracts at its news distribution division in the past month, most recently on Friday, rose 4 per cent to 72p.

Hopes for an improvement in consumer spending have been boosting Wolfson Microelectronics, which gained 0.75p to close at 109.75p yesterday, its highest level in more than six months. Temporary power provider Aggreko is also at its highest point in months, after gaining 2.2 per cent to 541p.

On Aim, Goals Soccer Centres made back some of Friday's losses yesterday, despite news that operations director Morris Payton had sold 6,750 shares last week. Goals closed up 6.25p at 140.25p.

Omega Diagnostics continued its rise after last week's upbeat sales update, further boosted by news that non-executive Mike Gurner bought 20,000 shares. Shares in the medical testing outfit edged up half a penny to 19p.

Oil services company Offshore Hydrocarbon Mapping jumped 16 per cent to 4.5p on news Alan Faichney was joining as a non-executive director.