Big 3 Ad Stocks on Uptick

A midweek rally on Wall Street stalled Friday as slack economic data and depressing geopolitical news took the wind out of investors’ sails by late in the day. But the week ended positively for the Big Three ad holding companies. Trading volume on IPG stock soared, with 38.9 million shares being bought and sold last Tuesday. Short sellers quickly tried to buy back shares after IPG’s $800 million convertible notes sale (see Finance, page 16). The stock was also helped when Standard & Poor’s said the company was taken off Creditwatch. IPG shares, whose starting price was $7.90, rose 9.3 percent to close the week at $8.69. WPP, trading as ADRs on the Nasdaq, began the week at $27.65 and finished at $28.88, up 4.4 percent. Omnicom started the week at $50.30 and ended at $51.11, up 1.6 percent. —DAVID KAPLAN