July was a more muted month for the key indices, but at least they were all in positive territory. Tech Hardware hit double-digit growth, but that only served to return it ‘above the line’ for the year. SCS (software & computer services) added another 4% and still shows the best return of the year, at over 18%. The FTSE 100 index beat Nasdaq, which appeared to have fallen into a summer slumber.
Top performer among the UK software and IT services companies was AIM-listed, social media SaaS pure-play penny-stock, SocialGo (see SocialGo offers a peek under the SaaS covers), up 61%, but this was more about reversing a decline that had set in since the beginning of 2011. Among the more substantial UK stocks (though on AIM), buy-and-furiously-build business process services company, Quindell Portfolio (accent on ‘portfolio’) is flavour of the month, with its shares up 36% (see Quindell shows progress, but still hurdles to clear).
At the other end of the UK spectrum, AIM-listed, mobile banking play, Monitise, tested the market earlier in the year with a major US acquisition (see Monitise – can two losses make a profit?) and has generally been marked down since. Its shares fell 18% in July. Deeply disturbed BPO firm Mouchel did even worse, losing another 21%. All academic now that it is to be owned by its banks (see Mouchel spends a penny to lighten debt).
But we couldn’t sign off without a mention of FaceBook, the worst performing stock in our coverage, down 30% (see Facebook value dips below $50b). Far be it from us to forecast valuations, but didn't we tell you so or what?