AdMarket 50

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News that unemployment hit a four-year high, the continued slump in consumer confidence and another raft of corporate-earnings warnings combined to batter the stock markets for the second week in a row. AdMarket stocks took the news badly; only 11 were up at week's end and 39 were down.

Pessimistic forecasts drove down several ad agency stocks. Interpublic Group of Cos. closed at $25.25, its lowest closing price since October 1998, while Publicis Groupe American Depositary Receipt shares closed at $21.80, just above the 52-week low of $21.60; Havas Advertising ADRs closed at $8.35, near the 52-week low of $8.04; and Cordiant Communications Group ADRs closed at $11.70, just above the $11 52-week low set a month ago. Omnicom Group fared better; thanks to several upbeat analyst reports, it closed at $73.93, up 50 cents. WPP Group closed at $46.86, a gain of 36 cents.

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