Publicis Groupe shares downgraded

LONDON - Shares in Publicis Groupe dipped slightly on the news that its stock had been downgraded by investment bank UBS Warburg.

No further details were available, except that the group had retained its €45 (£27.59) price target. Its shares were trading at €36.75 (£22.53) at 3pm yesterday.

Publicis is the world's fifth-largest advertising and communications group. It owns the eponymous Publicis, media planning and buying firm Optimedia, Saatchi & Saatchi, a 50% stake in Zenith Media and sales promotion agency Triangle.