WPP, which saw shares slip on Monday (see Sharewatch) after announcing that it would probably miss its profit margin target this year (see WPP Issues Profits Warning In Continuing Difficult Conditions), had a more positive day yesterday. Stock rose 3.25% to close at at £5.71˝, an increase of 18p on the day before.
Cable & Wireless also performed strongly in yesterday’s media market, with shares climbing 3.33% to finish at £1.70˝, up 5˝p on the previous day.
At the other end of the scale, SMG, which recently announced that advertising revenues are expected to be up by 4% in the second quarter (see SMG Sees Beginnings Of Advertising Stability), saw stock fall 6.35% to close at £1.27˝, 8˝p worse off than the day before.
The closing prices of media company shares yesterday were:
