News Corp a lonely winner after a week to forget on the Unmade Index

There was some relief as the market closed after a bad week for most media, but the word “rally” would be entirely inappropriate.

This was a week in which four of the established players on the Unmade Index delivered yearly or half-yearly updates: Nine, Ive, Southern Cross, and ARN. Each one of those companies lost significant ground.

Comparing market caps to this time last week, SCA was the hardest hit, losing 9% or close to $29m in the week. Today, with an announcement of two distinguished names coming on to the board, the price was flat.

Ive was down 3.55% in the week, Ooh down 3.30%, ARN -2.78% and Nine -1.60%.

News Corp was the only winner of the big stocks, up 2.39% in the week (2.59% today).

Moving on to the daily gainers: Ooh Media up 2.50% and Ive up 2.05%, with Vinyl rising 5.95% and Gumtree Australia rising 8.70%. Pureprofile was up 2.33% and Motio up 1.96%.

On the downside, GTN was down 3.85% and Sports Entertainment Group fell 1.79%, while Nine edged down 0.47%. The rest were flat.

This all left the Unmade Index slightly up on its new low two days ago, coming to rest 0.51% up at 409.5

As we were going to press, Vinyl Group dropped its half-yearly financial results on the ASX. We will cover in Tim Burrowes’ Best of the Week tomorrow morning. Sign up to our newsletter to get that delivered free to your inbox.