Almost all the main tech indices took a few steps backwards in July, with the FTSE SCS index off by nearly 5% over the month, worse than the FTSE 100 (-2.2%) and Nasdaq (-0.6%). The SCS index is now under 2% higher than at the beginning of the year, compared to Hardware, which is still nearly 18% up.
Among the UK stocks we regularly track, document management software provider, Invu, turned in the best share price gain, up 60% albeit from 0.4p to 0.6p. Invu is chaired by entrepreneur Daniel Goldman (see The Israeli connection). Veteran AIM-listed ITSA (IT staff agency) Highams Systems Services turned in the next best performance in the month, up by nearly 18% after a pleasing set of FY results (see Highams waltzes on). Also enjoying the benefits of a reasonable set of FY results was assurance and escrow services firm, NCC, although it still struggles with profitability at acquired testing business, SDLC (see SDLC still testing NCC). Also with double-digit share price growth were Sanderson (see Sanderson keeps business on an even keel), and Iomart (see Iomart sweats more revenue and profit).
Not having such a happy time last month were troubled ITSA and would-be location intelligence software provider Triad, down 19% after disappointing results (see Public sector spending cuts hurt Triad). Document imaging company Kofax took an 18% hit after a profit warning (see Kofax gets myopia), and likewise educational product and services supplier, RM (see RM warns on full year).
Among the non-UK players, India-based Hexaware topped the share price charts, up 25% (see Hexaware leaps forward). Apple didn’t disappoint either, up 16% on the month on to-die-for results (see Apple - Lost for superlatives). Amazon also pleased with its results (see Amazon hits all-time high), up 9%. At the other end of the stock performance spectrum, Unisys took its almost usual position, down 19% (see Unisys still in pain). European players were also hurting after what many viewed as lacklustre results, including Capgemini (-15%), Colt (-15%), Steria (-13%), Sopra (-12%). The ‘Siemens-enriched’ Atos did much better (-1%). Logica, which reports this week, was undoubtedly dragged down by peers’ performance (-13%). You can find our commentary on all of these un the UKHotViews archive – but only if you are a TechMarketView subscription service client, of course!