STOCKS NEWS EUROPE-L'Espresso up on cost cuts, News Corp

Italian publisher L'Espresso (ESPI.MI) rises more than 6 percent to a three-week high buoyed by broker comments on costs cuts and a deal to lease TV broadcasting frequencies to a unit of News Corp (NWSA.O) launching a free digital channel in Italy.

French broker Cheuvreux upgrades to "buy", saying L'Espresso's radio activities are growing again, volumes are recovering in its national newspaper sector and cost-cutting is ahead of schedule.

Milan broker Centrosim says L'Espresso is the "unique beneficiary" of News Corp's launch of the free channel, called Cielo. Centrosim says Cielo aims for a 1 percent market share. For more news on New Corp's free channel launch click on [ID:nN06205925]

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