Dan Coatsworth, head of markets at AJ Bell, said: “There are small glimmers of hope that PageGroup is past the worst. It’s been an awful time to be a recruitment consultant in recent years as labour markets soften around the world. Businesses have delayed investment decisions, and the rise of AI has led to workforce cutbacks.
“PageGroup said about half of its operations saw growth in the second quarter, although Europe remains a weak spot. Investors have taken a glass half-full mindset, bidding up the stock in hope that PageGroup can finally reverse two years of share price misery.
“Last month, PageGroup’s shares hit a 23-year low as market pessimism engulfed the stock. The second quarter commentary has clearly helped to improve sentiment, but certain investors might need more convincing than just one solid trading update.”
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