Share Indices for August - Tech bucks the wider trends for once!

With all the volativity in the main markets, tech actually had a reasonably good August. As you can see both the NASDAQ and Techmark ended UP 2%. Software and IT services in the UK was flat but mobile telecomms shone - up 6.4%. Indeed, the strong performance in telecomms was repeated in Europe.

The YTD performance figures show an even greater dichotomy. FTSE100 barely higher than at the start of the year. But NASDAQ still showing a 7.5% gain and the UK's TechMark up a pretty impressive 12.2%. Interestingly, the Support Services sector has been the laggard this year - it (mainly because of the popularity of BPO) had been the star in recent previous years.

Very unusual for tech to buck the trend. It usually suffers MORE than - is amplified by - the wider market. Maybe the new paradigm is that people will default on the mortgage payments but still buy a new ipod?