Holding Co. Stocks Up

Interpublic Group on Friday issued its long-awaited five-year material restatement, which totaled $550 million. The holding company’s stock fared well following the news, gaining 3.84 percent to close up for the week at $11.64 on a volume of more than 12.6 million shares. Omnicom’s price dipped to $82.95 in early morning trading that day, but the stock recovered to close up 94 cents for the week at $83.63. WPP ticked downward on Friday, losing 44 cents to close at $51.12, still up for the week. The Dow Jones Industrial remained steady despite this week’s report that Hurricane Katrina and soaring oil prices hit consumer confidence hard this month. The index plummeted nearly 19 points in September to its lowest rate since October 2003. On the brighter side, while President Bush asked Americans to conserve gasoline, the government reported this week that oil and gas reserves remain abundant.