Spanish audiovisual group Sogecable's shares have gained in value by more than 80% after one year on the Spanish stock exchange.

Closing share price on Friday was Euros43.02, up from Euros23.50 at the launch of Sogecable's initial public offer one year ago. Sogecable has trailed Telefonica internet subsidiary Terra this year as one of the most active interests on Spain's newly created New Market Index.

Nevertheless, Friday's share price represents a sharp drop from Sogecable's February high of Euros73.50. Spain's New Market followed a global trend of stock market volatility this spring.

Sogecable houses pay-TV outlets Canal Plus and Canal Satelite Digital, rights and acquisitions arm Sogepaq, production outfit Sogecine and a share in distributor Warner Sogefilms, exhibitor Warner Lusomundo and 24-hour Spanish-language news channel CNN+.