The AccountancyAge/ADVFN index lost a further 1.52 points falling to 66.80 point last week, its lowest mark since October of last year. The drop reflected the weakness in the benchmark FTSE-100, which dumped two technology high fliers on Wednesday and fell 3.44 points to end the week at 88.33 points.
And the beating is likely to continue after ‘black Friday’, as another telecoms scare and Andersen’s conviction for obstruction of justice further enhances investor fears.
Computer services star Logica was one victim of the FTSE demotion. Surprisingly, the company’s shares rallied temporarily on that day, ending the week only 1% lower.
The biggest fall was experienced by Xansa, which fell 10%.
UK senior partner Phil Verity has been elected for a second term at Mazars
Tallat Mahmood appointed to corporate finance team of Top 20 firm
Top 25 firm HW Fisher & Co has acquired London firm Rhodes & Rhodes
Top Ten firm RSM has appointed Nick Blundell as its head of corporate tax in Birmingham