Sunday, 20 July 2008

Best week for a long time for SITS stocks

After all the gloom I’ve brought you this year to date, last week was (amazingly) the best this year. The FTSE SCS Index was up 11% which, and this is the really interesting bit, almost eradicates the losses YTD. The FTSE SCS Index is down ‘just’ 3.7% YTD compared with a massive 16.8% fall for the FTSE100.

Because of the way the FTSE SCS Index works, it’s share price moves in the larger stocks that makes the biggest difference. Bids had a great effect – so nCipher and Detica (see below) were major contributors. But also share price increases this week from the likes of Autonomy, Computacenter, Logica, Misys – which were due to performance (or rather outlook) - also played a big part.

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