STOCKS NEWS EUROPE-Recruiters slide on Michael Page warning

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09:57GMT 04Dec2008-Recruiters slide on Michael Page warning

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Shares in staffing companies plunge after British-based recruitment firm Michael Page International (MPI.L) warns on its full-year profit, highlighting the slowdown in jobs markets and falling demand for permanent hires, especially in financial, retail and legal sectors.

Michael Page says the turmoil in the financial sector has eroded confidence in the wider economy with Britain and the United States bearing the brunt of the downturn. Its slides as much as 22 percent, while rival Hays (HAYS.L) falls 11 percent and Robert Walters (RWA.L) drops 6.5 percent.

"The fact that the downturn is universal and is no respecter of geography introduces a new tone of urgency to matters. The fact that recruiters have limited visibility at the best of times means that the darker note for Q4 trading will translate into prospects going forward," FinnCap analyst Duncan Hall says.

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