LONDON (ShareCast) - (ShareCast News) - While Sir Martin Sorrell's post first half results comment was about China, North America offered a better view of what was driving WPP, the Financial Times' Lex said.
The region was the advertising conglomerates biggest and highest margin region, as profits grew by 23% in the first half.

If emerging markets struggle, Lex said, then WPP's North American operations have to do the legwork, possibly while coping with higher US interest rates.

Lex said given the uncertainty it is hardly surprising that Sir Martin is cautious with capital allocation, while WPP spent $459m on acquisitions in the first half, but it spend almost as much on share buybacks. This would help grow earnings per share, Lex said.

However, Sir Martin would still need some help from faster growing areas such as digital communications and emerging markets, the above publication said.

"No wonder he is such a bull on China," Lex added.

Investors in Carillion should hold onto the stock, the Times' Tiempus said, despite it suffering an election slowdown.

Tempus said it was no surprise the order book was down a touch as the government was its bigger customer.

While Carillion failing to takeover Balfour Beatty last year showed its management was still capable of jeopardising steady progress with a rush of blood to the head.

"In this climate, steady as she goes is a winning strategy," Tempus said.

Tempus added investors should hold the stock as its safe, high yielding dividend and record revenue as important in times of uncertainty.

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