Ooh Media still suffering as losses pile up on Unmade Index

The losses accelerated today for Ooh Media after a bad day yesterday: the out-of-home company lost 4.56% to hit its lowest share price for more than a year and record a market cap of just $622m.

As we have been speculating this week, that could be because the market has realised, post the Nine/QMS acquisition announcement, that there is now no obvious suitor in the wings. It could also be a reflection of a market belief that out-of-home wins just got tougher up against a now better-connected competitor.

Or … maybe it was just a terrible day for everyone.

Nine, after all, was also down 4.18%, and ARN, down 3.85%. News Corp fell 2.49% (despite its pretty good results call), Ive was down 2.31%, and Southern Cross slid 2.34%. Pureprofile was the standout loser, down 8.16%.

Gainers were thin on the ground. Motio rose 2.22% while GTN was up 1.92%.

All of that, after four days of losses, dragged the Unmade Index down 3.38% to 436.1.