PracticeConsultingThe gloom deepens.

The gloom deepens.

The Accountancy Age/ADVFN index plunged last week as heavily-weighted stocks dragged the index to a new all-time low for the second week in a row.

Accountancy-related stocks continued their downward spiral dropping to 82.61 points, down 0.58 points on last week.

The benchmark FTSE-100 also fell compared to last week, recovering from the weekly low of 99.81 points but closing down at 101.47 points. Heavyweights QSP and Robert Walters led the losers as both shed 7% on last week’s share price.

Logica fell sharply last Wednesday after analysts downgraded the sector on a profit warning from the US company Comverse Technology.

This led analysts at Goldman Sachs to cut earnings forecasts across the IT sector. But Logica recovered slightly, closing the week out at 19.75p, down 2p on last week.

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.

Related Articles

5 tips for SMEs to protect cash flow

Accounting Software 5 tips for SMEs to protect cash flow

5m Alia Shoaib, Reporter
Tyrie on Finance Bill 2017: ‘Making Tax Policy Better’

Consulting Tyrie on Finance Bill 2017: ‘Making Tax Policy Better’

11m Stephanie Wix, Writer
Managing partner Q&A - the year ahead: Richard Toone, CVR Global

Accounting Firms Managing partner Q&A - the year ahead: Richard Toone, CVR Global

12m Kevin Reed, Writer
Deloitte 'self-imposes exile' on government contracts to defuse PM row

Accounting Firms Deloitte 'self-imposes exile' on government contracts to defuse PM row

12m Kevin Reed, Writer
Managing partner Q&A - the year ahead: Julie Adams, Menzies

Accounting Firms Managing partner Q&A - the year ahead: Julie Adams, Menzies

12m Kevin Reed, Writer
Friday Afternoon Live: Deloitte's tech thing; PAC wants HMRC 'contingencies'; and Sports Direct

Business Regulation Friday Afternoon Live: Deloitte's tech thing; PAC wants HMRC 'contingencies'; and Sports Direct

1y Kevin Reed, Writer
Friday Afternoon Live: HMRC complaints rise; Deloitte scoops big audits; and corporate reporting woes

Audit Friday Afternoon Live: HMRC complaints rise; Deloitte scoops big audits; and corporate reporting woes

1y Kevin Reed, Writer
New head of equity capital markets for KPMG

Accounting Firms New head of equity capital markets for KPMG

1y Stephanie Wix, Writer