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STOCKS NEWS EUROPE-C.Suisse upgrades lifts European media

Fri Jul 3, 2009 5:08am EDT

Stocks

   

European media stocks .SXMP rise 0.5 percent, outperforming a 0.3 percent-weaker wider market .STOXX, after Credit Suisse upgrades the sector, which it says has underperformed the market by 24 percent since its March peak.

Professional information providers Reed Elsevier (REL.L)(ELSN.AS) and Wolters Kluwer (WLSNc.AS) rise by almost 3 percent, as Credit Suisse analysts say its preferred sub-sectors are professional publishers, conglomerates and agencies.

Vivendi (VIV.PA), WPP (WPP.L) and Pearson (PSON.L) are also lifted by Credit Suisse's charactisation of the stocks as "fallen angels" that have been unfairly punished.

JC Decaux (JCDX.PA), identified by Credit Suisse as "particularly vulnerable" among advertising-funded media owners, falls 2.1 percent, and Mediaset (MS.MI), also picked out as a bad bet, slips 0.3 percent.

Reuters Messaging rm://georgina.prodhan.reuters.com@reuters.net


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