PR firms lead shares on upward trend
LONDON - PR-dominated firms Chime Communications and Incepta led the media and marketing stocks in London today, as the sector reacted to takeover announcements and results.
Incepta, which owns Citigate Dewe Rogerson, shot up 15.1% to 49.5p on the news that it has acquired research and marketing consultancy Hauck Research Services for £12.5m. Chime, parent of Bell Pottinger, rose 5.7% to 139p.
WPP fell 1.6% to 709.5p, while Cordiant Communications continued this week's upward trend with a 5.6% rise to 114p.
Havas Advertising rose 3.6% to 9.53 in Paris, while rival French advertising group Publicis, listed on the New York Stock Exchange, was up 2.9% to $26.45.
The biggest mover of the day was McCann-Erickson parent Interpublic Group of Companies which soared 23.7% on the NYSE to $30, despite recording a 7.4% drop in third-quarter revenues, partly as a result of the terrorist attacks on the US on September 11.
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