The Financial Week Ahead - Newswatch: Tech stocks drop out of
Difficult times for UK technology shares are to be compounded next week with a farewell from the FTSE-100 to a number of new economy stocks.
Computer company Psion, telecoms players Thus and Kingston and software group Baltimore Technologies are tipped to exit the top 100 by market capitalisation only three months after entry.
New Year stars Baltimore plummeted from 70 to 150 in the rankings with share prices reaching a low of 72p, Psion dropped from 73 to 127.
The FTSE review on June 7 will take market capitalisation the previous evening with new ranking taking effect on June 19. Stocks to return include building materials group Hanson and brewers Scottish & Newcastle.
This month also saw leading technology stocks on the London Stock Exchange’s TechMARK 100 index, launched by the stock exchange last November, also took an 8.7% fall, its biggest since it started.
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www.accountancyage.com/IT/1101557.