WPP Group up as media stocks continue bullish rise

LONDON - WPP Group enjoyed the sharpest rise among London's media stocks as the markets continued a bullish run.

WPP was up 1.8% this morning on the back of its reported bid for Cordiant Communications, which also rose 9.09%.

WPP hit 499p with Cordiant rising just 0.5p to 6p, while media buying group Aegis was up 0.59% to 85.5p.

Lord Bell's Chime was up 2.22% to 23p and marketing services group Incepta remained unmoved.

The FTSE 100 started 1.1 higher at 4,093.9 while the mid-cap FTSE 250 rose 0.4 % to 4,834.1 as European markets also saw strong gains from the start of trading.

The strong start follows on from last week where the FTSE saw an overall weekly gain of 1.7%, as it put in its best performance for more than six months.

The continued bullish activity has been boosted by positive news from the US where the Dow Jones Industrial Average saw a triple-digit gain on Friday.

Among the broadcasters, BSkyB was up 0.83% to 668.5p, Carlton was up 0.54% to 138.5p and Granada was up 1.13% to 89.5p.

Reuters and Pearson were also both up, with the information group rising 0.96% to 183p and the Financial Times owner rising 0.92% to 575.35p.

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