Extel in talks over broadcasting the City 'Oscars' ceremony

It is the most keenly-awaited luncheon in the City calendar, and this year anyone missing out on a ticket to the City's equivalent of the Oscars will be able to watch the dramatic proceedings on the small screen.

The annual Extel Survey of investment analysts is regarded by many as the definitive guide to top number-crunching talent, with the receipt of an award typically adding noughts to an analyst's salary. European fund managers cast their votes in some 80 categories, with the results revealed in June at a lavish lunch in the City's historic Guildhall.

While the collapse of the dot.com share boom has cast a shadow over the record of investment research and the analysts who enthusiastically promoted New Economy stocks, the event's organiser, Thomson Financial, believes the ceremony could make popular viewing among retail investors.

It has approached television executives with a view to striking a broadcast deal and, although an agreement is unlikely before 2003 at the earliest, this year's event in June will be viewable via a webcast.

Steve Kelly, head of the survey, said: "If the Booker Prize is on television, I don't see why the Extel Awards shouldn't be. Retail interest in the stock market will come back before long."

The plans are thought to have won the backing of Michael Grade, the former Channel 4 chief who fronted the 2001 ceremony and is due to host this year's as well.

With voting scheduled to begin in March, Thomson Financial has tweaked the categories to reflect the torrid state of stock markets and relentless stream of negative company newsflow over the last year.

The best internet analyst award has been ditched, and new gongs are being introduced covering credit research with the aim of reflecting investors' appreciation of analysts capable of predicting which companies will be the next to breach their banking covenants or go into receivership.