ITV PLC (LON:ITV) was the top blue chip gainer in mid-morning trading, up 3.8% to 179.65p, boosted by hopes for a viewing surge in the semi-final match if England makes it through the quarter-final against Sweden, and on reports of an upgrade in rating by Societe Generale.
Around 10am, ITV shares in the FTSE 100 index were up 3.8% at 179.5p.
READ: ITV jumps on England World Cup and Love Island viewing figures
Russ Mould, investment director at AJ Bell noted: “Just as the English public appear to be falling back in love with their football team again, the market seems to be warming to free-to-air broadcaster ITV.
“Almost 24mln people watched England end their penalty hoodoo on ITV1, at one stage four in five people watching TV in the UK were tuned into the channel.”
He said: “If England makes it through their quarter-final against Sweden – a game being shown on the BBC – then ITV is scheduled to screen their semi-final which would be good for audience numbers and potential advertising income.”
Mould added; “Arguably the company is also being boosted by the other TV phenomenon of the summer: ITV2’s Love Island. Health and beauty shopping brand Superdrug recently reported a surge in profit after sponsoring the show.”
Meanwhile, traders said SocGen has upped its stance on the commercial TV broadcaster to ‘buy’ from ‘hold’ with a target price of 220p in a media sector note.
The French broker also reportedly downgraded its stance for newspaper publisher Daily Mail and General Trust PLC to ‘sell’ with a target price of 645p.
DMGT shares were down 1.7% to 744p.