LONDON (ShareCast) - Tempus in the Times wonders aloud about what exactly is an exceptional event, after noticing that insurance firm RSA has stripped out the impacts of Britain’s wettest ever June and two Italian earthquakes from its first half results. Aren’t these exactly the events insurers are meant to deal with? Nevertheless, with the shares yielding an impressive 8% Tempus says hold.
Tempus also gives a warning on recruitment firms after the results of Robert Walters showed operating profits fell sharply in the first half. The group is trying to build up its resources recruitment business following a very difficult period in banking but this is taking time. The column thinks “the tide will turn” for recruiters but with the stock trading at 16 times earnings, the advice is hold..
There were no Questor share tips on the Telegraph web site at the time of publication of this article.
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