Friday 17 January 2020

*NEW RESEARCH* UK SITS stocks finish the year with healthy gains

chartUK tech indices performed extremely well during the first half of 2019 but suffered a big correction during the third quarter. Fortunately, this turned out to be a temporary set-back with growth returning during the final quarter.

The FTSE SCS index, a proxy for UK listed software and IT services (SITS) companies, gained 35% during the first half of the year but lost 17% during the third quarter, regaining some of the lost ground in Q4 with a 14% gain to finish the year up a very healthy 27%.

Other tech sectors also posted strong gains with the Techmark 100 index up 36% yoy and the FTSE Hardware sector gained 74% to lift the wider FTSE Technology sector by almost 30%.

The value of quoted UK SITS companies jumped to £55.6bn in 2019 (2018: £33.5bn) after the London Stock Exchange redefined some of the industry classifications used to segment listed companies.

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

Posted by HotViews Editor at '07:51'