Business Week – Tech gloom deepens.

Accountancy-related stocks have begun to recover from recent lows but are lagging behind growth among other stocks in the FTSE-100 index, according to the Accountancy Age/ADVFN share index, writes Damian Wild.

The index finished last Thursday on 94.35 points after dipping at the beginning of that week. Meanwhile the FTSE-100 finished at 106.74 points, compared to its standing at the time of the Accountancy Age index’s launch last month.

Recruitment stocks Hays and Reed continued to shore up the index finishing last Thursday at 289p and 190.5p. However Robert Walters was down slightly at 150.5p.

There was gloom elsewhere. Business services companies Capita and Itnet lost ground. Capita shed 10p over the course of the week to 435p while Itnet was steady at 220p.

But it was technology-related shares that did most to wipe out the recruiters’ gains. Logica slid to #8.82 – it stood at #10.76 last month. Sage was down 7.25p on the week at 242.75p.

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