Wharf (Holdings)

Wharf (Holdings) outperformed the Hang Seng Index yesterday, gaining almost 1.9 per cent on news that the Government might extend its licence to operate the territory's only cable television network until 1998.

This would protect Wharf's monopoly earnings for the next two years, a welcome cheer for many investors, because Wharf Cable has been incurring losses since its launch in 1993.

It closed at $29.60, up 55 cents from Wednesday's close. The stock has risen 15 per cent this year, compared with the Hang Seng Index's gain of 9.5 per cent.