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Mon 03 Mar 2009Unexpected speed of revenue fall-off in advertising hits WPP badly
LONDON REPORT: FTSE 100: 3,753.68 (+41.62) Mid-250: 6,162.54 (+100.72) Small Cap: 1,676.67 (+23.13): WPP LAGGED behind the market rally yesterday after MorganStanley said advertising budgets were falling faster than expected.
The broker also cast doubt on WPP’s perception as defensive because of its focus on marketing services, digital and emerging markets.
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