Sunday 20 October 2019

*NEW RESEARCH* UK SITS indices fall as global tensions grow

CHARTUK tech stocks had mixed fortunes during Q3 as international trade tensions and talk of a global slowdown weighed on shares.

The FTSE SCS index, a proxy for UK listed software and IT services (SITS) companies, was the worst performer in the UK tech sector with a 17% fall. Micro Focus was a major contributor to the drop with its shares falling 45% in the quarter following a profit warning (see here).

The FTSE Telecom indices faired better, boosted by a 25% gain by Vodafone which lifted the FTSE Mobile index by 24% but stock price falls from BT and other fixed line providers resulted in a 9% drop in the FTSE Fixed Line index and limited the FTSE Telecom index to a 13% gain.

In the broader stock markets, the FTSE 100 was down very slightly (0.2%) as was the Nasdaq index (down 0.6%).

TechMarketView Foundation Service subscribers can read more about the comparative performance of UK SITS stocks in IndustryViews Quoted Sector Q3 2019 Review by clinking here.

Posted by HotViews Editor at '16:37'