By mid-March this year, share prices of WPP Group and Aegis Group had recovered almost to the bullish levels of January 2001 (see chart above). But with the exception of Creston – where an acquisition prompted a re-rating during the period – none of the other UK quoted groups have recovered much beyond the depressed levels recorded immediately after the US terrorist tragedy in September last year. Indeed shares of Cordiant Communications Group continue to bump along well below even that level in expectation of a big loss.
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