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%.
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