Cordiant Communications was the first to post its results, with pre-tax profits up 26.6% to £22.1m. It also announced that it planned to make 300 job cuts worldwide. Its shares hit 167.5p today -- having rallied from 149p on Monday morning -- after losing 20% last week amid concerns about its future.
Shares in French group Publicis rose 5% today to €27.84 (£17.60) after the company reported a 65% increase in first-half billings to €7.5bn (£4.7bn).
The surprise of the day was UK-based marketing and communications group Incepta, owner of Citigate Dewe Rogerson and Key Communications in London, which jumped 10% to close at 51p. Analysts see it as a possible takeover target.
Speculation surrounding the potential takeover triangle involving Havas, Tempus Group and WPP Group appears to have settled for the time being. Havas lost just under 1% today to trade at €11.30 (£7.14) in Paris, Tempus was down 0.4% to 568.5p and WPP was up 3% to 697.5p, after falling to 675p on Friday in London. Chime was unchanged at 136p and Aegis was up by just under 1% to 106.75p.
The results appear to have reassured investors that agencies are handling poor market conditions and, with the swingeing job cuts, demonstrating they are dealing with problems the industry faces.
Over in New York, Grey Global's shares rallied 1.9% today to $580 (£408) on the news that its second-quarter billings were up 3% to $2.1bn (£1.5bn).
Also in New York, Omnicom Group was up slightly to $85.15 (£59.98), as was the Interpublic Group of Companies, which rose 1.2% to $27.92 (£19.61).