Classic FM parent group GCap Media today confirmed it had rejected an approach from rival Global Radio potentially valuing the firm at around £313m (€419m).

The break-up of FHM and Heat publisher Emap remained on track today after the media group reported “good interest” in all of its assets.

FHM publisher Emap is today said to be in talks with banks to offer loans to bidders interested in buying its businesses.

Emap’s consumer magazine division has attracted interest from the US publisher of Maxim, it was reported today.

Italian magazine publisher Mondadori, controlled by former Italian Prime Minister Silvio Berlusconi, is looking to snap up Emap’s consumer magazines arm, it emerged today.

Gcap Media, the owner of British radio stations Capital and Classic FM said second quarter revenue was set to be ahead of the first three months of the group’s financial year as the radio advertising market continued to improve.

The increasing prospect of higher interest rates cast a shadow over property and retail stocks on the London market today.

The London market staged a rally in afternoon trading today, recouping some of its losses from earlier in the session following falls in China overnight.

The London market enjoyed a bullish session today as record results from Royal Dutch Shell and bumper earnings figures from AstraZeneca and Rio Tinto pushed blue-chip stocks ahead.

Capital Radio and Classic FM parent group GCap Media today confirmed it had hired former Virgin Radio head Fru Hazlitt as it struggles to turn its fortunes around.

British Radio group Gcap Media painted a gloomy picture today as it posted plummeting profits and admitted the advertising market remained tough.

The London market was on the front foot today after market heavyweights BP and Royal Dutch Shell improved on the back of resurgent oil prices.

High street clothes store Next leapt to the top of the FTSE 100 Index leaderboard today as the London market ended the week on the front foot.

The London market ended the week on the front foot after a broker upgrade for insurer Prudential offset a slide among mining stocks today.

Two stalwarts of the FTSE 100 Index had their demotion from the top tier of the London stock market confirmed today.

Investors received a shot in the arm today after the FTSE 100 Index followed the lead of US markets to rise by more than 100 points.

Shares in London plunged back into the red today as the markets failed to build on strong gains in the previous session.

Shares in London were back in negative territory today as the markets failed to build on strong gains in the previous session.

Mining stocks dragged the FTSE 100 back below 6100 today as oil and copper prices fell and investors looked to cash in on their recent rally.

The London market basked at a level not seen for five years today as investors brushed aside worries about the latest rise in oil prices.

Heavyweights in the financial sector were providing the London market with momentum today as investors reacted favourably to the succession plans at HSBC.

Disappointing results by British Land today meant the London market was unable to build on a recent rally that has driven it to four-high highs.

Property-based stocks combined with weaker oil companies to drag the FTSE 100 Index into negative territory today.

Surging oil and mining stocks put some gloss on an otherwise lacklustre session for the London market today.

A recovery in heavyweight oil and mining stocks saw the Footsie edge forward today after losses last week.

London shares ended today in the red after a rise on Wall Street failed to offset the impact of gloomy UK economic and media sector news.