Aegis shares soar 15% on upbeat trading statement

LONDON - Shares in Aegis Group were trading ahead of their opening price by almost 15% this afternoon, following a statement saying it expected full-year results to be 'significantly better than 2001'.

Shares in the company, which owns the Carat media-buying network, were up by 9.25p at 70.5p, making them among the day's biggest gainers.

Other advertising shares were gaining from Aegis' good news and overall stockmarket gains. Despite having its recommendation cut by Deutsche Bank to "sell" from "hold", WPP Group saw its shares rise 4% to 447p.

Deutsche said in a trading note: "Although the organic revenue decline was broadly in line with expectations, the group's outlook for the remainder of the year, both in terms of revenues and margins, was worse than expected."

In the media sector, BSkyB, Carlton Communications and Granada were all seeing significant gains. BSkyB was up 5.22% at 624.5p, while the two ITV companies were up more than 5%, with Carlton trading at 132.25p and Granada at 77p.

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