Advertising holding companies' share prices hit hard

Chris Pash
By Chris Pash | 10 March 2020
 

The big advertising holding companies were caught in a global market slide as the world reacted to falling oil prices and fears of economic fallout from the coronavirus.

In the US, Omnicom shares fell more than 8% to $US60.40, well down on the 12-month high of $US85.05.

WPP in London dropped more than 7% to 672.20 pence. In France, Publicis Groupe fell 6% to EUR30.80, while in Japan Dentsu fell 9.5% to JPY2,390.

M&C Saatchi shares rose 4.7% to 75 pence after reports of private equity firms interested in buying.

The company's shares fell in December after a profit warning, saying that full year global profits would be significantly below forecast due to "weaker than expected" trading and higher costs.

Co-founder Maurice Saatchi was among four directors to step down from the board of directors in the fallout.

 

 

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