STOCKS NEWS EUROPE-Publicis falls after downbeat Exane note

Shares in advertising agency Publicis fall 2.9 percent, reversinga portion of recent lofty gains, as traders cite a downbeat research note on thecompany from Exane analysts.

"Third-quarter organic growth might not be as strong as expected ... A dullthird quarter on the back of the 10-year high share price could disappoint inthe near term but should provide a good entry point for an attractive long-termstory," the analysts write.

However, the analysts maintain their 'outperform' recommendation on thestock, saying that history suggests that the market reaction to even anegligible miss on organic growth is often excessive.

Reuters Messaging: blaise.robinson.thomsonreuters.com@reuters.net


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