REFILE-STOCKS NEWS EUROPE-Publishers up on bullish updates

(Corrects spelling of Johnston Press in first paragraph)

Shares in British media stocks Trinity Mirror (TNI.L) and Johnston Press (JPR.L) rise 8.5 percent and 7.1 percent respectively, following an encouraging set of updates from the embattled media sector.

Trinity Mirror says it sees the rate of its revenue decline continuing to slow, echoing a trend seen by others in the industry. [ID:nLB38528]

"We see scope for a rebound in the groups revenues, although... the extend of the rebound will vary according to vertical," says Numis in a note.

Trinity's update mirrored those of Johnston Press, the biggest regional newspaper group, and John Menzies (MNZS.L), who both reported their interims on Wednesday, while Italian publisher RCS MediaGroup (RCSM.MI) said it could beat its 2009 target of cost cutting, in the previous session.

"(Trinity's) advertising performance reflects a continuation of the trends seen at the interims, and recent comments from ITV (ITV.L) and Johnston Press," Numis adds.

The wider European media index .SXMP is up 0.3 percent.

The European updates followed Gannett (GCI.N), the largest U.S. newspaper paper publisher, which last month reported an improvement in classified advertising. For more double click on [ID:nLB38528]

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