18 January 2018
visit http://response.ncr.com

Finextra50 rises to 102.46

09 July 2007  |  2486 views  |  0 stock quote

Despite the closure of the US markets for the Independence Day holiday, the Finextra50 Financial Technology Index rose a healthy 1.63% last week to close at 102.46.

Major gainers

Authentication vendor Vasco Data Security led the pack by posting the biggest gains of the week, rising 7.821% to $24.54. Although the shares dipped last week, authentication remains a hot topic with banks and the stock recovered despite the closure of the US markets for the Independence Day holiday.

Shares in UK dealing systems vendor Fidessa were up 6.011% at 970.00 pence. The company disclosed that Legal & General Group had acquired shares in the business and also reported that it had extended its European Trader Workstation (ETW), which was launched last year, to include member trading on the Madrid Stock Exchange.

Offshore outsourcing outfit Cognizant also performed strongly and rose 5.187% to $78.89 on the back of news that it was setting up a second IT and BPO services unit in Kolkata. The new facility will double the firm's headcount in the city to 8000. The vendor also received some positive PR with its inclusion in BusinessWeek's 2007 InfoTech 100, the magazine's annual ranking of technology firms.

Other rises on the index include DST Systems which was up 5.151% and Hypercom which rose 4.738% after it released details of a major restructuring which includes the outsourcing of its manufacturing operations. Misys stock also rose 4.051% to end the week at 244.00 pence.

Fundtech, which joined the index last week, saw its stock rise 3.377% during the week.

The losers

UK IT services firm Microgen posted the biggest fall in the index last week, with its stock sinking 8.611% to 43.41 pence.

Shares in the London-based firm - which agreed a £25.6 million cash offer for banking and securities software vendor Trace Group last month - dipped ahead of its first half trading update released today. Friday was also the first closing date of its increased cash offer for Trace. Microgen said it had received valid acceptances for shares representing 17.02% of Trace Group so far. The offer has been extended to Friday 13th July.

Australian share registry and capital markets technology provider Computershare also fell and ended the week down 5.137% at A$10.71 per share. Last week Computershare reported its EUR12 million acquisition of Ireland's Datacare Software Group, which provides entity management and subsidiary governance technology.

Other losers on the index included German insurance systems house FJH which saw its stock fall 4.895% during the week, Patsystems which dropped 3.571% and The Innovation Group which fell 3.448%.

Index comparison

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

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Finextra50 ends week up at 100.79

Finextra50 ends week up at 100.79

02 July 2007  |  3764 views  |  0 comments
Finextra50 dips slightly to 100.18

Finextra50 dips slightly to 100.18

25 June 2007  |  3183 views  |  0 comments
Finextra50 rises to 101.67

Finextra50 rises to 101.67

18 June 2007  |  2795 views  |  0 comments
Finextra50 dips to 99.76

Finextra50 dips to 99.76

11 June 2007  |  3275 views  |  0 comments
Finextra50 climbs 2.74% to 102.36

Finextra50 climbs 2.74% to 102.36

04 June 2007  |  3272 views  |  0 comments
Finextra50 dips slightly to 99.56

Finextra50 dips slightly to 99.56

29 May 2007  |  4015 views  |  0 comments
Finextra50 rebounds to 99.92

Finextra50 rebounds to 99.92

21 May 2007  |  3707 views  |  0 comments
Finextra50 ends first week slightly down

Finextra50 ends first week slightly down

14 May 2007  |  4247 views  |  0 comments
Finextra launches Finextra50 fintech index

Finextra launches Finextra50 fintech index

11 May 2007  |  11456 views  |  0 comments

Related company news


Related blogs

Create a blog about this story (membership required)
visit www.thomsonreuters.infovisit www.ebaday.comvisit www.niceactimize.com

Top topics

Most viewed Most shared
Europe begins Open Banking era in subdued styleEurope begins Open Banking era in subdued...
10595 views comments | 32 tweets | 36 linkedin
Crypto mining threatened by power capacity concernsCrypto mining threatened by power capacity...
10091 views comments | 17 tweets | 18 linkedin
Wells Fargo to close 900 branchesWells Fargo to close 900 branches
9669 views comments | 14 tweets | 16 linkedin
KFC introduces Bitcoin BucketKFC introduces Bitcoin Bucket
9213 views comments | 17 tweets | 16 linkedin
FinTech Scotland appoints new CEOFinTech Scotland appoints new CEO
8169 views comments | 8 tweets | 6 linkedin

Featured job

Germany, Austria or Switzerland

Find your next job