The slide continues.

The slide continues.

The ADVFN/Accountancy Age share index has dipped to a new low, dropping below the 80-point mark as the majority of its stocks fell. It fell a further 5.04 points to end the week at 77.47 points. The benchmark FTSE-100 also fell, losing 1% and closing at 100.65 last Thursday.

Mysis was the week’s biggest loser, sliding a staggering 31%, down 137p to 308p after the company announced its annual results. The software and IT services company saw profits and earnings per share drop. Shares tumbled 26% on Wednesday to a two-year low and brokers downgraded their forecasts after Mysis said it expected a drop in sales in its key banking division.

Logica continued to drop, losing 87p on continued weakness in the sector, while heavyweight QSP saw its shares de-valued by 10%. Shares for Sema held steady as city watchers say they expect the companies operating line to break even this half-year.

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

– The Accountancy Age/ADVFN share index is based on a portfolio of ten accountancy-related shares listed on the London Stock Exchange. The companies are Capita (business services); Itnet (outsourcing); Hays, Reed and Robert Walters (recruitment); and Logica, Misys, QSP, Sage and Sema (software). The index is based on a notional #100,000 invested in the companies on 23 March 2001 and reflects the percentage change in the value of the portfolio based on current prices at close each day. The FTSE has been rebased to 100 using its 23 March value of 5,402.3 points.

Share

Subscribe to get your daily business insights

Resources & Whitepapers

Why Professional Services Firms Should Ditch Folders and Embrace Metadata
Professional Services

Why Professional Services Firms Should Ditch Folders and Embrace Metadata

3y

Why Professional Services Firms Should Ditch Folde...

In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...

View resource
2 Vital keys to Remaining Competitive for Professional Services Firms

2 Vital keys to Remaining Competitive for Professional Services Firms

3y

2 Vital keys to Remaining Competitive for Professi...

In recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...

View resource
Turn Accounts Payable into a value-engine
Accounting Firms

Turn Accounts Payable into a value-engine

3y

Turn Accounts Payable into a value-engine

In a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...

View resource
Digital Links: A guide to MTD in 2021
Making Tax Digital

Digital Links: A guide to MTD in 2021

3y

Digital Links: A guide to MTD in 2021

The first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...

View resource