► Subscribe to FT.com here: http://bit.ly/2r8RJzM<br /><br />Shares in advertising agencies have slumped, while the ones of their important clients — the fast-moving consumer goods companies — have put on a much better showing. But the FT's Miles Johnson says trading them for their newly cost-disciplined clients might not work.<br /><br />► Subscribe to the Financial Times on YouTube: http://bit.ly/FTimeSubs<br /><br />For more video content from the Financial Times, visit http://www.FT.com/video<br /><br /><br />Twitter https://twitter.com/ftvideo<br />Facebook https://www.facebook.com/financialtimes
