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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.

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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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