Major gainers
Fidessa was the index's biggest gainer last week, closing up 11.14% to 1167p on Friday. This came on the back of positive press coverage in the Financial Times highlighting Fidessa's MiFID strategy, and recent announcements about expanding in new geographies. This includes the launch of a smart routing service for the Canadian capital market system, and the expansion of its operations in Japan to support its Fidessa LatentZero buy-side product suite in the region.

Temenos Group also rose strongly last week, finishing Friday up 10.67% to CHF33.70. The core banking system vendor posted third quarter net profit of US$9.9 million, compared to US$0.5 million in the same period last year, and has raised its full year guidance for the third time this year.

Business intelligence and reporting vendor Actuate, risk management specialist Fair Isaac, payments software provider Fundtech and buy-side software and processor DST all also rose on strong quarterly results last week.

Actuate stock rose 9.68% to $8.50 after reporting total revenues for the third quarter of 2007 were $34.7 million, an increase of 9% compared with the third quarter of 2006.

Fair Isaac was up 9.54% to $37.54 with revenues of $207.2 million in fiscal 2007 compared to $207.3 million reported in the prior year period. Net income for the fourth quarter of fiscal 2007 totaled $28.2 million, or $0.52 per diluted share, compared to $22.1 million, or $0.35 per diluted share, reported in the prior year period

Fundtech rose 8.69% to $17.51 after posting quarterly revenues of $26.6 million, a 24% increase year-over-year, compared to third quarter revenues of $21.5 million in 2006 and 5% higher than second quarter 2007 revenues of $25.4 million. Net income was $2.2 million or $0.13 per diluted share, for the third quarter of 2007, compared with net income of $1.2 million, or $0.08 per diluted share, in the third quarter of 2006, and net income of $1.7 million, or $0.10 per diluted share, in the second quarter of 2007.

DST Systems was up 7.15% to $86.58. Last week it reported consolidated net income of $672.8 million ($9.62 per diluted share) for the third quarter 2007 compared to $54.7 million ($0.76 per diluted share) for the third quarter 2006. This reflected a one-off gain of $617.0 million of net income from July's sale of a a significant portion of its ownership in Asurion Corporation ("Asurion") for $980 million of cash and estimated receivables of $43.9 million to be collected within one year from the closing of the transaction.

Taking into account this sale and certain non-GAAP adjustments, consolidated net income was $61.5 million ($0.88 per diluted share) for the third quarter 2007 compared to $50.1 million ($0.70 per diluted share) for the third quarter 2006.

Major losers
S1, Chordiant and Pegasystems were the biggest fallers last week, ahead of repoting quarterly results at the beginning of November. S1 fell 9.34% to $7.86, Chordiant Software fell 7.11% to $12.94, and Pegasystems was down 6.84% to $10.9.

Outside the US, Oberthur Card Systems (OCS) was the only other significant faller as the company announced that it and parent company Francois-Charles Oberthur Fiduciaire (FCOF) are plannning to regroup their businesses with a view to creating a "world leader" in secure technologies, to be named Oberthur Technologies. Oberthur reported at the same time that OCS had seen third quarter 2007 revenue of EUR148.2M or a year-on-year increase of 19.2%.

But the market didn't react favourably to the business reorganisation plan, and OCS stock closed the week down 5.81% to EUR6.49.

Index comparison



Methodology
More information on the Finextra50 Financial Technology Index methodology and constituent stocks can be found here.