Despite early market gains on Friday after word of Procter & Gamble’s stunning $57 billion acquisition bid for Gillette, the U.S. stock exchanges closed lower on the day but still managed to eke out 2005’s first weekly gain. The Dow Jones industrial average closed down 40 points to 10,427, posting a slight 0.3 percent gain for the week, while the Nasdaq fell 11.32 points, ending the week with just under a 0.3 percent increase. P&G shares on Friday fell 2.1 percent as investors took stock of its Gillette bid. On Friday, P&G’s predominate holding-company partner, Publicis, showed an increase in the wake of the news, rising 2.8 percent to $30.80. For the week, WPP, trading as American Depository Receipts on the Nasdaq, closed up 4.1 percent, at $53.59. On the Big Board, Omnicom finished at $83.45, down 0.7 percent, while IPG ended at $13.05, a decrease of 0.4 percent.
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