Johnston Press stock on the rise

ANYONE else noticed the steady if pedestrian rise in the Johnston Press share price?

Up another 15.49 per cent yesterday to stand at 41p at close, continuing the upward trajectory this month since CEO John Fry announced a refinancing package.

Not everyone has faith, of course, with some questioning the wisdom of adding 10 per cent interest fees onto the burden.

But media analyst Lorna Tilbian at brokers Numis has already suggested a rerating of its shares is on the cards, prompting this piece by Margareta Pagano who argues the group is a sure bet.

She suggests that because the Government has supported the banks who in turn support the papers, it would be political suicide to let them go under with an election looming.

There might, of course, still be other reasons for the rise.

Either way, it will be some welcome respite to those manning the executive trenches.

At least for now.



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