Shares were trading as high as 116p on the London Stock Exchange in the late afternoon, but dropped back slightly this morning to 114.75p.
The price has been slowly recovering since last month, when it hit a low of 77p after the company admitted that markets in Europe and the Americas were taking a downturn. Aegis owns the media-buying network Carat.
Interest in the company has been strong since French advertising group Havas made a £425m bid for Aegis Group's smaller rival Tempus, which owns the CIA media-buying network. The offer is being considered by Tempus shareholders, and a deal could be completed by August 20 if all goes to plan.
If the Havas bid is successful, Aegis, which owns the Carat network, will be the only major independent media-buying group listed on the London Stock Exchange.
It is seen as the next likely takeover target as the major marketing services companies, such as WPP Group and Omnicom Group, look to beef up their media-buying capabilities.
The industry is still waiting to see what Sir Martin Sorrell, the WPP CEO, will do with his 22% Tempus stake. Some commentators are expecting a counter-bid.