A rotten start to the new financial year for ad spend; Why did the SCA and ARN share prices suddenly jump?

Welcome to a Tuesday update from Unmade. Today: SMI Guideline’s July numbers suggest that rather than a turnaround, things are getting worse. And further down, SCA and ARN both see spikes in their share prices.

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Starting from behind

We may be early into a fresh financial year, but we now know there has been no clean sheet for advertising spend. The numbers for July, released by Guideline SMI yesterday afternoon, were rotten. Again.