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Tuesday, December 3, 2013

Publicis doesn't see significant Q4 ad market improvement, (NYSE: OMC)

Publicis Chief Executive Maurice Levy does not expect a significant improvement in the French advertising market in the fourth quarter, he said at a conference on Tuesday. "We sense that the market is weak, a little depressed," he said, adding that the situation was not much better in Europe."Everything south of Belgium is going badly," the CEO said, citing double-digit percentage decreases in ad spending in Italy and Spain.Levy added that he hoped the European Union would give the green light for Publicis' $35.1 billion merger with U.S. advertising company Omnicom Group in early January.

Omnicom Group Inc. (Omnicom) is a holding company, providing professional services to clients through multiple agencies. Shares of OMC remained unchanged at $71.98. In the past year, the shares have traded as low as $48.84 and as high as $72.49. On average, 1287220 shares of OMC exchange hands on a given day and today's volume is recorded at 0.