Omnicom Shares Rally as Investors Reassured

10 July 2002

Shares in Omnicom Group began to recover from their recent slump after the agency giant took steps to fight allegations of accounting irregularities.

The group’s stock jumped 6% following the release of extra financial information [WAMN: 09-Jul-02]. It closed at $47.56 (€47.78; £30.67) on Monday and dipped only slightly on Tuesday to $47.

The news helped other ad stocks. Interpublic Group shares rose 3.6% to $24.66 before closing at $24.15 on Tuesday, while WPP Group increased 4% before falling back.

Data sourced from: multiple sources; additional content by WARC staff