STOP PRESS: WPP chief uses AGM to restate prediction

INDUSTRY: WPP chief Martin Sorrell used this week's AGM to restate his prediction that the marketing sector was unlikely to see sustained growth until 2004. He said: 'Our view continues to be that recovery will be gradual and American-led.' Shares in WPP, Chime Communications, Incepta and Cordiant slid on the downbeat statement, but WPP rallied on Wednesday.

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