The Week Ahead: The City to get snapshot of the recruitment sector

 

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The Independent Online

The City will get a snapshot of the recruitment sector this week, as both Robert Walters and Hays update the market.

Numis expects continued double-digit growth in net fees at Robert Walters when it reports third-quarter trading tomorrow, with the UK the main driver of the progress.

The broker meanwhile predicts a slight slowdown in growth at Hays, with first-quarter net fees up 6 per cent, compared to a 7 per cent rise in the same quarter a year earlier. Analyst Steve Woolf puts the drag down to a tough market in Germany.

The week starts with no major corporate news today, with Halifax’s house price index the only significant scheduled economic update.

The publishing and marketing group St Ives has full-year figures tomorrow. The Ukraine-focused iron ore miner Ferrexpo will also release third-quarter production figures and the cloud computing specialist Synety has a trading statement. Manufacturing output and industrial production figures for August are due out and the Bank of England’s third-quarter credit conditions survey will be published.

Recently merged electronics retailer Dixons Carphone has a strategy update on Wednesday, while the mid-point of the week also brings a trading statement from Marston’s. Sheridan Admans at The Shares Centre warns that sales may have slowed at the pub group after poor weather in August and September. He adds: “Investors will be interested in any guidance on profit margins, news of how the company’s F Plan strategy is progressing. and how many new build pubs have been completed.”

On Thursday the hi-tech plastic specialist Victrex has its final results and oil company Wood Group puts out a management update.

The minutes of the Bank of England’s latest Monetary Policy Committee are also due, with Investec predicting no change on either interest rates or quantitative easing.

Jupiter Fund Management, XP Power and Vedanta Resources cap the week off, with all three putting out management statements on Friday. Construction output and trade figures for August are also due.

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