Daily Stock Market Report (Wed 18th March 2026) - STEM

Good morning! I have a backlog section on STEM to get us started.

SThree (LON:STEM)
Down 1% yesterday to 165.4p (£210m) - FY26 Q1 Trading Update amp; CFO Departure Graham - AMBER =It was a double header from SThree yesterday, with the Q1 trading update accompanied by news of the CFO departing in a separate RNS.1-year chart:
Let’s check the Q1 update first:
Net fees down 8% year-on-year, “reflecting continued stabilisation, supported by ongoing growth in the USA and Japan, and a significant improvement on the prior-year rate of decline.”“Key contract renewal period concluded and new business activity broadly consistent year-on-year, with both performing in line with expectations.”Contract fees down 10% year-on-year, while Permanent fees were flat year-on-year.
I do find it interesting that Permanent recruiting has just outperformed Contract.
STEM has spent years allowing its activities in Permanent recruiting to shrink. Permanent recruiting is seen as a volatile source of income that is more geared to the health of the economy - but in the very short-term at least, it is steadier than Contract.
Net cash of £51m. I interviewed SThree’s management in January and was...