Greece swore in its new Prime Minister and Italy’s Senate approved new austerity measures to improve the nation’s debt situation. That positive news from Europe reassured Wall Street and sent stock prices higher. The Dow Jones Industrial Average rose 260 points, or 2.2%, to 12,154. Broadcasting stocks had a good day. Disney and SBS shot up after strong quarterly financial reports and Emmis gained on its plans to buy back some preferred shares.
The RBR Radio Index was up 18.515, or 5.9%, at 331.667.
The TVBR Television Index was up 7.020, or 2.9%, at 246.533.
SBS, up 46.9%
Emmis, up 15.9%
Entravision, up 7.4%
Entercom, down 7%
Dial Global, down 1.9%
Radio One, down 0.8%