The London market made scant progress today as an IMF endorsement of the UK government’s deficit-busting plans was overshadowed by wider fears over the global recovery.

THE Big Freeze has became the Big Thaw — putting the country on flood alert after a spectacular rise of up to 19C in daytime temperatures plus heavy rain.

Advertising giant WPP tonight declared its interest in buying Aegis, the media and marketing group facing a possible £1.6bn (€2.34bn) takeover.

UK media buyer Aegis today trimmed expectations for spending in the advertising industry but said the outlook for the sector remained healthy.