In mid-morning trade, the FTSE 100 was up 1.9% and the FTSE 250 was up 1.6%, as US markets rose overnight to three-month highs.
Reuters, which last week reported a 10% decline in core revenues to £670m, was up 9.2%, or 11p, to 130.5p.
WPP led the advertising stocks, jumping 7.2% to 434.25p, consolidating gains made last week when it rose 5.9% amid wider market gains to 399p, a gain of 22.5p. This was despite a downgrade by Moody's, which cited "limited visibility".
Elsewhere among the ad stocks, media buying and research firm Aegis was up 4.2% to 74.25p, and Bates UK owner Cordiant Communications was up 6.1% to 26p.
Analysts said that WPP was helped by the strong advertising performance put in yesterday by CBS and MTV-owning media group Viacom.
The ITV companies also fared well this morning. Carlton Communications was up 4.4% to 101.25p and merger partner Granada was up 4.5% to 69p. Not doing quite so well was satellite operator BSkyB, which was up 2.9% to 678.5p.
Among the radio stocks, Xfm owner Capital was up 5.9% to 447.5p; GWR was up 5.1% to 165p; and Chrysalis rose 4.7% to 190p.
Financial Times publisher Pearson was up 3.1% to 560p, while Daily Mirror publisher Trinity Mirror recorded a smaller rise of 1.9% to 426.5p. Heat and Kiss FM owner Emap was up by the same percentage, rising to 793p.
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