Mixed day for agency stocks

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Agency stocks were a mixed bag today, despite the stock market's recovery. The Dow Jones industrial average closed up 3.82% at 4 p.m. ET at 7827.17, a gain of 288.10 points. Some stocks hard hit in the Thursday-to-Monday sell-off recovered some of their value, including CKS Group, which rose 3.2% to close at $14.12, up 44 cents. Hardest hit was Think New Ideas, which lost $2.06 to close at $11.56, a 15.14% drop. Snyder Communications stock , also hurt in last week's selloff, was up 6.22% to close at $32, up $1.88, while Cordiant Communications, the only agency holding company whose stock price rose Aug. 31, dropped 0.65% to close at $9.56, down six cents. Among the major agency holding companies, Omnicom Group rose 5.5% to close at $50.25, up $2.62, and WPP Group American Depository Receipt shares traded up 6.55% on the NASDAQ exchange, at $57.94, a $3.56 gain. True North Communications closed up 62 cents to close at $23.38, a 2.75% gain, while Interpublic Group of Cos. was down 1.75%, dropping $1 to close at $56.

Copyright September 1998, Crain Communications Inc.

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