Sharewatch: WPP Rises On Burger King Deal

WPP was seen in focus, up 3.99% on news that fast food chain Burger King has chosen the Young and Rubican unit as its lead ad agency.

Elsewhere, the AIM listed magazine publisher, I Feel Good, surged 29.4% after announcing it had received a possible takeover approach. IFG owns Viz and the A5 men’s lifestyle magazine Jack. The group refused to elaborate on the bid but industry speculation has focused on Dennis Publishing owner Felix Dennis.

Meanwhile, the Carlton and Granada show rolled on, with stocks up 1.29% and 3.11% respectively. According to reports in the Guardian, senior executives from the two groups have privately conceded they are losing their battle to convince the Competition Commission to allow them to combine their sales houses as part of the planned merger.

Media analysts also digested further bad news from the IPA’s Bellwether Report which revealed UK marketing budgets were on average revised downwards in the first quarter of this year (see INSIGHTanalysis: Bellwether Sees Weakest Advertising Outlook Yet).

The closing prices of media company shares on Tuesday were: