Patsystems and Computershare rose on better than expected earnings last week, as the Finextra50 Financial Technology Index closed the week down .7% to 57.36.
Gainers
Patsystems was the index's biggest gainer last week, rising 41.82% to end Friday at 19.50p after beating expectations for its full-year 2008 results. The screen dealing vendor reported adjusted pre-tax profit for the full year ended 31 December 2008 was up to £3.7 million compared to £3.0 million in 2007. Revenue increased by 15% to £19.6 million (2007: £17.0 million), with 87% recurring.
Australia's Computershare also rose on strong earnings. Its shares were up 13.88% to A$7.55 on Friday after the global share registry operator reported H1 figures and full-year guidance that were much better than a pessimistic market expected.
A stronger US dollar and fewer initial public offerings have cut Computershare's net profit by 15.5 per cent, but the company still made $US130.9 million ($A196 million) between July and December. Leaving aside a write-down on its VEM Aktienbank business in Germany - a cost that translated to more than $US14 million - and other exceptional one-off items, it says net profit was down seven per cent at $US145.2 million.
But the news that buoyed the share price most was Computershare chief executive Stuart Crosby's statement that profit for the full-year would be as expected - about the same as last year - despite the tough conditions.
Other companies to see significant share price rises last week include:
Losers
Wincor Nixdorf led the fallers last week. Its shares closed Friday down 10.11% to EUR37 as Reuters reported rumours among European traders that a profit warning was imminent from the company.
Other companies to see significant falls include:
Index comparison
Methodology
More information on the Finextra50 Financial Technology Index methodology and constituent stocks can be found here.