WPP lifted by hopes of improving advertising market

WPP has moved higher on hopes for a recovery in the global advertising market next year. The company's shares have risen 17p to 664p in a falling market after Carat, an independent media communications agency, published updated forecasts for advertising expenditure. It said: "Our data show the major markets generally stabilising, and trends in sector spend continuing." It now expects global advertising spending to grow by 2.9% in 2010 following a fall of 9% last year. In its last report in October it forecast growth of just 1% in 2010. For 2011 it is anticipating global growth of 4%.