Ten Alps shines as media stocks suffer

It was another week to forget for equities, due to rising oil prices and concerns over the UK housing market.

The perceived sensitivity of media stocks to conditions in the wider economy meant that the vast majority of companies in the Broadcast 20 suffered.

BSkyB, Virgin Media and ITV fell 6.97%, 9.44% and 9.86% respectively. Five's parent company, RTL Group, was the only large cap to close the week in positive territory, up 2.15%.

Among the smaller companies, Blinkx continued its recent volatility falling 22% to close at 17.75p.

But Ten Alps was again the top performer, maintaining its good run from last week. Investors continued to react to its positive earnings figures, and it closed up 9.45% on the week to finish at 55p.
Howard Davies, partner, Deloitte
This column provides a weekly commentary on the key movements among 20 listed media companies chosen by Broadcast. Source: Datastream