Monday, 4 August 2008

Share indices in July 08

July proved to be the best month of the year for UK SITS stocks. The FTSE SCS Index was up 4.55% which means that the index is now down 'just' 2.4% YTD. That compares with a 16.2% decline in the FTSE100 YTD and 12.3% decline in NASDAQ YTD. The good fortune was not repeated in the telcom arena where declines in BT and Vodafone drove both the FTSE Fixed and Mobile Indices down c8%; leading to a c30% decline YTD in both.

In the FTSE SCS Index it was BAE Systems bid which drove Detica's share price up c70% in July. But excellent performances at Autonomy (up c18%) and Misys (up c15%) also helped.

Financial Objects, nCipher and Flomerics were all helped to significant premiums because of bids. There was an excellent article in Monday's FT Techs ride out the storm which comments on the buying spree amongst UK SCS stocks concluding that about 20% of the sector has been taken off the market in the last year. Peter Rowell (executive Chairman) and Regent statistics are quoted extensively in the FT article (Note - I am a non-executive director of Regent)

As a shareholder in Blinkx, I was pleased to see their share price recovering by c70% to 28p in July - still short of the May 07 45p IPO price though.

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