Britain’s vote to leave the European Union has sent global markets into chaos.
Many advertising company stocks are feeling the hit too — particularly those based in Europe.
Here’s how the “big six” holding company stocks were performing at the time of writing:
However, $WPPGY, which trades on the Nasdaq, shows a different picture:
Publicis Groupe (France)
Dentsu is based in Japan, but it has seen the biggest drop in share price:
IPG chief Michael Roth said earlier on Friday that while Britain’s decision to leave the EU will lead to “market volatility in the short term,” over time “markets should normalize” as long as open trade remains a priority.
WPP CEO Sir Martin Sorrell said Brexit “is not good news, to say the least”. He predicts Brexit will lead to “slow decision-making” and clients deterring activity. Earlier this month he said it would have a “serious impact” on the company in western continental Europe, where WPP will need to hire more people.
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