Sharewatch: WPP Rises Despite Negative Comments

WPP was seen in focus last week, up 1.54% despite warnings from chief executive, Sir Martin Sorrell, that there will be no return to the boom years of the late 1990s. However, he did predict an upturn in the advertising market next year.

Elsewhere, ITV partners Carlton and Granada were seen in focus, up 3.61% and 2.56% respectively. The groups remained in the spotlight on news that former finance directors of BSkyB and Channel Five are being lined up to take executive jobs at ITV as part of David Elstein’s plan to make-over the channel.

Earlier this week ITV’s joint managing directors attacked the idea of splitting off their ad sales departments in response to wide-ranging proposals put forward by Elstein (see ITV Chiefs Dismiss Ad Sales Proposal).

Broader market sentiment was mixed on Friday, with traders unwilling to stake big positions ahead of the bank holiday weekend.

The closing prices of media company shares on Friday were: