Cordiant soared 8.6% to 95p after the company renegotiated borrowing terms with its creditors, allaying earlier concerns that it might breach its debt covenants this year.
Among other UK agency stocks, Incepta, owner of PR firm Citigate Dewe Rogerson, saw its shares rise 5.5% to 56.75p and WPP Group, owner of Ogilvy & Mather and J Walter Thompson, rose 0.5% to 803p.
Maiden Outdoor, however, slid 1.5% to 322.5p after announcing a 29% fall in full-year profits.
Media owners, on the other hand, have had a rollercoaster week, following the news that ITV Digital has been placed in the hands of administrators.
The news sent ITV Digital shareholders Granada and Carlton Communications tumbling, even though the news had been expected to come as a relief to shareholders.
Granada was down 2.6% to 138.75p in mid-afternoon trading, while Carlton was down 0.8% to 269.75p as concerns emerged that the £800m the two partners have already invested in the company will now have to be written off.
BSkyB was buoyed by the news, which effectively wipes out its only competitor in areas where there are no cable networks. Shares in the satellite broadcaster jumped 1.8% to 829p.
Meanwhile, NTL appeared to use ITV Digital's bad news to cover up its own troubles. Yesterday, the company reported its fourth-quarter results and admitted that it might not be able to afford to keep running while it restructures its £12bn debt.
Its shares have fallen as low as 20 cents on Nasdaq today, pushing UK rival Telewest down 3.5% to 13.75p.
Scottish Radio Holdings, owner of Radio Clyde and most of Scotland's local radio stations, attempted to buck the media stocks by issuing a trading statement ahead of its results. Scottish Radio said that it expects first-half revenues to have fallen just 3%, following a strong performance from local advertising, pushing its shares up 5.99% to 965p.
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