Ooh Media leads The Unmade Index downwards as debt ceiling rally fades

Unmade Index returns to the red

Monday’s up day on The Unmade Index following optimism around the US debt ceiling crisis was short lived, with the index heading back down on Tuesday. The index, our measure of the daily performance of ASX-listed media and marketing stocks, fell 0.33% to land at 625.8 points.

Out of home company Ooh Media was the biggest loser on the market yesterday, dropping by 2.04% to $1.20 per share. The company’s $656m market capitalisation is close to its lowest point since issuing a profit warning at the start of the month.

Seven West Media followed with a 1.32% drop, taking it down to a market cap of $580m.

Domain was the biggest winner of the bigger media companies, with a 2.05% rise. Out of home advertising microcap Motio scored a 11.43% lift in its share price.