Sector movers: Media stocks in demand

30th Oct 2009 12:26

Media stocks are in demand following announcements from advertising group WPP and the directories company Yell.WPP said it expects the second half to show a marked improvement in profitability and said overall conditions are "less worse".Yellow Pages owner Yell, which yesterday extended the deadline for its refinancing to 5pm that evening said today that it has made significant progress over the last 24 hours and is now awaiting acceptances from the final two lenders.Insurance stocks fall back as Prudential continues its volatile performance following Wednesday's third quarter results. The Pru took a tumble Wednesday as a dive in UK business sent group insurance sales down 9% during the third quarter. The shares then recovered the following day, helped by some positive broker coverage.Top performing sectors so far todayForestry & Paper 3,726.89 +2.85%Industrial Metals 4,272.27 +1.82%Technology Hardware & Equipment 330.38 +1.76%Media 3,194.96 +1.73%General Financial 5,189.97 +1.64%Bottom performing sectors so far todayInsurance (non-life) 1,264.45 -0.99%Mining 18,314.54 -0.83%Life Insurance 3,781.13 -0.68%Household Goods 6,059.43 -0.67%Mobile Telecommunications 3,175.64 -0.39%