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STOCKS NEWS EUROPE-Matchtech up after full-year results

Thu Oct 8, 2009 5:45am EDT

Stocks

   

Shares in Matchtech Group (MTEC.L) gain 5.3 percent after the recruiter posts full-year results, which KBC Peel Hunt says beats its forecasts at the pretax profit level.

Matchtech says its full-year pretax profit fell to 11.3 million pounds, down from 12.8 million pounds last year as permanent placements in the first quarter continued to be weaker, although at a slower pace.

KBC Peel Hunt says Matchtech's pretax profit beat its forecast of 10.6 million pounds, coming in at the top end of consensus estimates, and adds the "8 percent yield is tempting".

The wider staffing sector is mixed with Michael Page (MPI.L) up 4.1 percent, extending Wednesday's gains following its third-quarter update, while SThree (STHR.L) adds 2.4 percent.

But mid-cap Hays (HAYS.L) misses out falling 1.6 percent after the firm's first-quarter update disappoints, with Robert Walters (RWA.L) flat ahead of its interim management statement due out Friday, October 9.

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Reuters Messaging rm://david.brett.reuters.com@reuters.net


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