BusinessCompany NewsNegativity hits stocks.

Negativity hits stocks.

Negative news has hit accountancy-related stocks, causing the majority of shares to slide below last week’s levels, writes Adriana Zea.

After a strong start to the week, the Accountancy Age/ADVFN index dropped back to 70.72 points, down 2.41 points on the last close, mimicking the FTSE, which fell to 93.87 points.

Leading the losers as the recruitment sector is hit by the economic downturn, was Reed Executive, which fell 9%.

After rising steadily on positive comments from brokers, Xansa’s share price fell 5% following a statement, which disappointed market watchers.

Software specialists Logica and Misys fell 4% as Merrill Lynch slashed earnings forecasts for the sector. Capita Group lost 3% after its talks with the London Borough of Croydon collapsed.

For real-time shares information, tools and education for private investors, go to www.advfn.com

For more business news and company profiles, go to www.accountancyage.com.

Related Articles

BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

3m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

7m Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

7m Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

10m Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

10m Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

10m Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

10m Emma Smith, Managing Editor
Mazars strengthens audit team with partner appointment

Accounting Firms Mazars strengthens audit team with partner appointment

10m Emma Smith, Managing Editor