Share Indices for July 07

As we noted last week, it was a horrid week for stock markets and tech. As you can see from the table above, the markets gave up all - and more - of the gains they made in the early part of the month and, with the sole exception of UK Software and Computing Services stocks, showed losses for the month. The worst performance came from UK mobile - down 10.4%. Indeed Telcoms was bad overall as investors didn't much like BT's Q2 results.

Xansa was the best performer amongst UK SCS stocks last month - up 48% on the month due to the bid from Steria. iSoft gained 33% for similar M&A reasons after the surprise intervention of CompuGroup to displace IBA as the most likely winning bidder. Chelford said their H1 results would be "significantly" head of expectations which resulted in a 35% boost to their share price. Triad (+23% ) and MicroFocus (+15%) also gained in positive trading statements and results.

As I write, markets seem to have regained some of their composure. I still remain in a state of nerviousness. I can still see a 10% reduction on the cards.