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.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements