Michael Page stocks dip on “challenging” Q4

<p>Michael Page International expects a challenging end to the year.</p>

The share price of Michael Page International has taken a hit today (October 14th) after the company revealed it expects the fourth quarter of the year to be "challenging".

Stocks in the recruitment firm dropped in value by six per cent on the back of the announcement.

It was also revealed by the company that it expects operating profits for the full year to be about £68 million, which is slightly below the expectations of analysts, reports BBC News.

At 11:24 BST, the FTSE 100 was up 0.15 per cent on the start of the session, with Johnson Matthey the top riser on the index in morning trading.

The company's share price rose by 4.3 per cent, while there were also strong gains for Travis Perkins, which was up by 3.6 per cent.

However, investors are expected to remain cautious overall as the US government shutdown continues to drag on despite talks in the Senate.

Asian stocks were down across the board in today's session as a result of fears the shutdown could continue beyond this week's debt ceiling deadline.

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