Mid-morning, WPP shares were priced at 723.5p, up 6.24% from yesterday's close of 681p.
Yesterday, Goldman Sachs said it continued to hold WPP stock on its "recommended list", as it sees strong revenue drivers ahead for the group, which owns the Ogilvy & Mather, J Walter Thompson and Young & Rubicam advertising networks.
Havas, owner of the Euro RSCG Worldwide network, was also trading up, by 1.7%, at €8.34 this morning, after posting a 25% rise in revenues. However, this was largely due to the acquisition of US agency Snyder Communications, rather than the fact it has weathered the downturn better than other agencies.
Alain de Pouzilhac, chairman and CEO of Havas Advertising, said: "In a difficult year, the market fell by 5%. Havas Advertising kept to its commitment, announced at the beginning of October, to be one of the only communication groups to maintain slightly positive organic growth."
In New York, the index of advertising stocks was up by 2.1% last night, with the Interpublic Group of Companies and Omnicom both gaining.
Today in London, the Aegis Group, owner of the Carat media-buying network, was trading up by 1.92% to 92.75p. However, Cordiant Communications, which owns Bates, had fallen by 9.2% to trade at 69p.
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