Meanwhile, the FTSE-100 recovered from last week’s lows of 107.29 returning in form to 110.11 points on the day of the general election.
Hays suffered the biggest drop; it fell a staggering 32% or 100 points after the outsourcing and distribution group said its profits for the second half and the financial year would be lower than expected. Hays had been expected to make a profit of about £295m but is now looking at annual pre-tax profits of only £232m.
On the upside, Logica gained 10% this week after a long-awaited meeting in which the company convinced analysts that it could maintain a good performance despite difficult market conditions.
Heavyweight QSP remained positive despite unsettling news that its chief executive officer and finance director resigned ‘for personal reasons’.
For real-time shares information, tools and education for private investors, go to www.advfn.com
For more business news and company profiles, go to: www.accountancyage.com
The Accountancy Age/ADVFN share index is based on a portfolio of ten accountancy-related shares listed on the London Stock Exchange. The companies are Capita (business services); Itnet (outsourcing); Hays, Reed and Robert Walters (recruitment); and Logica, Misys, QSP, Sage and Sema (software).
The index is based on a notional £100,000 invested in the companies on 23 March 2001 and reflects the percentage change in the value of the portfolio based on current prices at close each day. The FTSE has been rebased to 100 using its 23 March value of 5,402.3 points.
Andrew Tyrie airs views on the Finance Bill, 'Making Tax Policy Better' report, and Brexit
In our latest managing partner Q&A looking towards 2017, CVR Global's Richard Toone talks about recruitment, and the potential threat of competition from the legal sector, as key issues for the firm in the coming year
Deloitte to avoid tendering for government contracts over the next six months, to appease Theresa May following consultant's report that painted a less-than-flattering picture of Brexit plans
In our first Q&A looking towards 2017, Menzies senior partner Julie Adams flags up increasing digitisation, aligned with more hands-on consultative services, as the key mix for her practice