Sir Martin Sorrell, Chief Executive Officer of WPP, gestures during the session 'The BBC World Debate: A Richer World, but for Whom?' in the Swiss mountain resort of Davos January 23, 2015. REUTERS/RUBEN SPRICH
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Research firm Zenith Optimedia, owned by Publicis, recently cut its growth forecast for the global advertising market to 4.2 percent down from 4.9 percent earlier this year.Morgan Stanley estimated that Publicis was the most exposed, with 1.7 percent of sales at risk and 2.5 percent of earnings per share. It is defending seven contracts including P&G, General Mills, Twenty-First Century Fox and Coca-Cola.For WPP, about 1.1 percent of revenue and 1.6 percent of earnings per share are risk as it seeks to keep nine contracts including Volkswagen and Unilever.
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