Business Week - Market jitters push index down.
Nervous investors sent the Accountancy Age/ADVFN index slipping down
After hitting 106.60 points last Friday, the index fell to 104.95 points, down 0.79 points on the previous week’s close.
The FTSE-100 also edged lower, finishing the week 2.22 points lower than last Thursday at 107.29. The biggest loser this week was Logica, which fell 5.9% on Wednesday on rumours that the company is planning a rights issue to acquire BT’s IT services operation Syntegra. Shares finished the week off 12% lower.
Other losers were Misys, which lost 6% over the week and accountancy software services company Sage, which ended 5% lower on last week. Capita’s news that it plans to acquire McLaren Dick & Company, a provider of business services to the insurance sector, caused shares to close 1% lower.
Robert Walters was the index’s biggest winner with a 10% gain on last week’s price, followed by Reed Executive, which was up 7%, gaining steadily after its annual general meeting in which it received special authorisation to make market purchases.
Heavyweight QSP was up 3% on contract wins worth #4.3m from Aer Lingus and the University of Aberdeen.
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