Communications-services companies rallied as traders rotated back into Facebook (FB), Alphabet (GOOGL) and other Internet stocks that had borne the brunt of selling in last week's stock-market plunge.

Shares of U.S. advertising giant Omnicom Group (OMC) rallied after it reported better-than-expected earnings, easing investor concerns over the industry's ability to weather competition from technology companies.

Shares of European rivals WPP (WPP) and Interpublic (IPG) rose after Omnicom sounded a positive note on the outlook for North American business in 2019. Intelsat(I) rose after reports the satellite concern would move into the business-aviation niche.

-Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

October 16, 2018 17:01 ET (21:01 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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