Three directors of Robert Walters acquired shares in the company on Friday, suggesting they believe its share price is set to rise.

Chief executive Robert Walters, chief operating officer Giles Daubeney and Alan Bannatyne, finance director, acquired 144,000, 49,000 and 18,000  shares at 82.2 respectively. Following the transactions, they hold 2.4m, 1.7m and 0.1m shares respectively.

Robert Walters’ directors’ dealings have tended to be well timed over the past few years. As The Times reported at the weekend: “In 2003, a matter of weeks after what proved to be the bottom of an average three-year bear market, Robert Walters bought 159,000 shares at 61p. In April 2007, as sector valuations neared their peak, he sold 2.9m shares in three tranches at prices up to 360p.”

Kean Marden, head of research at Singer Capital Markets, says: “We are getting close to the bottom for recruitment agency share prices, but that doesn’t mean that it is getting easier for staffing agency trading. Share prices are at quite depressed and appropriate levels.”