War Gives Stocks a Lift | Adweek War Gives Stocks a Lift | Adweek
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War Gives Stocks a Lift

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Massive strikes on Baghdad sent the Dow Jones Industrial Average skyward at week's end, as investors perceived a quick end to the hostilities in Iraq. Marketing-communications stocks also surged, with IPG jumping 15.2 percent to close the week at $9.93. Despite Friday's downgrade of Omnicom's senior unsecured debt from A to A- by credit-rating agency Fitch, the holding company's stock also rose, climbing 15.6 percent to $59.08. Investment analysts said the rating downgrade was expected, following similar actions in the past two weeks by Moody's and Standard & Poor's. British holding company WPP, trading as American Depository Receipts on the Nasdaq, rose 9.9 percent to $31.30. —David Kaplan