Accountancy shares emerge from the doldrums

Accountancy-related stocks jumped after weeks in negative territory, closing at 77.34 points, up 1.32 points on last week. The benchmark FTSE-100 also closed higher, ending the week at 96.80 points. Positive results from recruitment giant Adecco pushed its accountancy counterpart Michael Page up 12% this week. Competitor Robert Walters also saw better trading on the statement, climbing 5% as the UK accounting recruitment sector was also boosted by news that UK unemployment fell.

Sage also joined the winners continuing to advance on an increased revenue guidance rise from rival Intuit.

Capita was up 2% after saying it is ‘delighted’ by current trading and that it is significantly ahead at the end of the first quarter compared to the same period last year.

At the opposite end, the biggest loser was Xansa, down 14p per share.

Reed Executive lost 5p after reporting it remains ‘cautious’ on its economic outlook for this year.

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