Advertising ends the week down

LONDON - Advertising stocks have ended the week down, with WPP Group falling 4% on the week as uncertainty continued to surround its hostile bid for Tempus.

WPP's shares began the week at 710p, falling more than 2% on Wednesday and Thursday to trade at 681p mid-afternoon on Friday.



Tempus, the prize in the the tug-of-war, has remained almost static this week. It dipped slightly by 0.2% today to 584p.



In Paris, Havas shares fell 0.19% today to €10.38 (£6.50), having fallen from €10.66 (£6.68) at the start of the week.



Publicis started the week at €27.90 (£17.49) and, despite falling around 10% this week, was up slightly on today's opening price to €26.05(£16.33).



Both French stocks doubtless felt the affect of a report, issued this morning by media agency Zenith, which slashed its forecasts for the rest of the year and warned that a recovery was unlikely until 2003.



The rest of the sector continued to feel the impact of the general market apprehension towards media stocks in light of the current climate.



In London, Aegis lost around 6% to 112.5p this afternoon, having recovered somewhat in the early part of the week. Cordiant was up today by 0.3% to 170p, having fallen just 2.5% this week.



On the New York Stock Exchange, the Interpublic Group of Companies was down 3.26% today to $29.36 (£20.24) -- it had risen slightly on its Monday opening price of $28.35 (£19.54). Omnicom Group was down 3.69% today to $76.39 (£52.62), down from its Monday opening price of $81.74 (£56.35).



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Claire Billings, recommends

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