BusinessCompany NewsAccountancy-related stocks dive

Accountancy-related stocks dive

Accountancy-related stocks plunged this week prompted by negative company news and an increase in UK unemployment.

The Accountancy Age/ADVFN index lost 4.73 points on last week to close at 80.95 points, after hitting a high of 85.96 Tuesday. The FTSE-100 fell just under one point.

Xansa topped the losers’ list, falling 11% despite announcing interim profits were up 54% on last year. Investors were spooked by the company saying its Business Change consulting arm’s turnover for the full year would be down about 20%.

Capita fell 8% after it emerged there had been a breach in the computer system made for a government learning programme.

Shares for Logica slipped Wednesday on news that Vodafone had awarded a Multimedia Messaging System contract to rival Ericsson. MMS, which is the next generation text messaging system, is offered by most mobile phone operators and runs mainly on software systems supplied by Logica.

News that the UK’s jobless rate fell for the third consecutive month hit recruitment companies, causing Michael Page to fall 9% and Robert Walters to drop 6%.

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