Shares in WPP, owner of the Ogilvy & Mather and J Walter Thompson advertising groups, were trading at 471.5p this afternoon, down 14p on Friday's close.
Across-the-board gains in US advertising stocks when the market opened in New York this morning failed to boost London media prices, which were extremely volatile today.
Shares in Omnicom rose by 0.64% this morning to $50.30, a gain of 32 cents, while Grey was up by 1.14%, or $8, to $710.
However, in London, leading advertising companies were down. Aegis Group, which owns the Carat media-buying agency, had fallen by 0.56% this afternoon to trade at 88.75%, while Cordiant Communications, owner of the struggling Bates Worldwide network, was down by 2% at 73.5p.
The media companies were also seeing a bad day. British Sky Broadcasting was hardest hit, trading down by 3.27%, or 19.5p, at 576p, while the Daily Mail & General Trust was down by 2.55%, or 14p, to trade at 534p, having dropped up to 6.5% during morning trading.
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