All the major indices that we track took a couple of short steps to the left during April, the hardest hit being FTSE Tech Hardware, down 7.2% in the month. The FTSE SCS (Software & Computer Services) index (-2.2%) fared worse than Nasdaq (-1.6%) and the FTSE 100, the latter being the ‘best’ performer only losing 0.5%. Even so, all the indices bar FTSE Telecom and FTSE Mobile are ahead year-to-date, with Techmark 100, FTSE SCS, FTSE Support Services and FTSE Fixed Line among the UK indices all showing double-digit growth.
Blazing the trail among the UK listed tech stocks was Staffing, HR and payroll software and services provider Bond International Software (+43%) boosted, we assume, by a return to profit last year (see Bond International: moving towards recovery) and the signing of a significant contract. And after seeing its shares slip back in March, local government software and services provider IDOX, got back on track in April (+18%), reinstating the upwards march that its shares started at the beginning of the year.
Bringing up the rear among the UK stocks was the hapless BPO player, Mouchel, ...