European recruiters Randstad, Adecco slip after Manpower's forecast

Randstad NV

30/01/2025 14:33

** Shares in European recruiters Randstad  RAND.AS  and
Adecco  ADEN.S  move lower after U.S. rival Manpower  MAN.N 
forecasts Q1 earnings below expectations
    ** Manpower expects Q1 diluted EPS between $0.47 and $0.57
vs estimate of $0.77 - LSEG
    ** "Commentaries point to a continued challenging industry
backdrop, with some incremental weakness in Europe, particularly
in France and Germany," Jefferies analysts say in a note
    ** They add that the read-through to Randstad and Adecco is
"mixed" and confirms the tough backdrop, even if it's largely
expected
    ** At 1425 GMT Randstad is down 2% after falling as much as
5.1% earlier in the session; Adecco down 1.8%

 (Reporting by Anna Pruchnicka)
 ((anna.pruchnicka@tr.com))