21 October 2017

Statpro leads the risers on the Finextra50; Orc is top faller

16 July 2007  |  3445 views  |  0 stocks

The Finextra50 index rose a steady 2.479% last week, driven by a strong performance by outsourcing firm Cognizant, although it was UK group Statpro that had posted the biggest share price rise by the end of Friday.

The risers

AIM-listed Statpro - a provider of portfolio analytics software for fund managers - is top of the table, with the stock rising almost 14% last week to 98.25 pence on the back of a strong set of first half results. Statpro said its first half was in line with exectations and that it was confident of full year growth, especially as its new business pipeline is "at its highest ever level".

Offshore outsourcing firm Cognizant performed strongly again this week and was the second highest riser in the index. The stock closed the week 9.241% higher at $86.18. The stock had performed well on Wednesday and Thursday after its Indian rival Infosys posted a strong set of results and talked up demand for IT services in the future. Furthermore, as Coginzant is headquartered in the US, analysts expect the firm to be insulated from the surge of the rupee against the dollar - something which could cause problems for its rivals, including Mphasis which was one of the worst performers in the index this week.

London-based Microgen - which posted the biggest fall last week - saw its stock rise 7.349% to 46.60 pence this week on the back of an up-beat trading update saying the firm expected first half results to be above management expectations.

Other risers on the index include Paris-based Oberthur Card Systems which rose 7.750% and UK dealing systems vendor Fidessa which was up 6.804%.

The losers

Swedish trading systems vendor Orc Software was the biggest faller in the index last week. The stock fell 7.311% to close at SKr177.50 on Friday despite the vendor reporting a solid set of interim results earlier in the week.

After posting a rise the previous week, US eftpos vendor Hypercom struggled last week after it disclosed that its CEO William Keiper had quit the firm and would leave in August. The stock fell 6.947% to close at $5.76 on Friday.

The recent appreciation of the Indian rupee against the US dollar hit Indian tech stocks last week and helped make BPO vendor Mphasis one of the biggest fallers on the Finextra50 index. The shares closed the week down 6.618% at Rs299.85.

Other fallers on the index included EDB Business Partner, which dived 4.425% to close at NKr54.00 on Friday, and Factset Research Systems which dropped 2.733% to end the week at $66.56.

France-based Fininfo fell 2.387% to close at EUR14.31 despite the confirmation of a takeover of the market data business by Telekurs. Fininfo stock had risen steadily in previous weeks on the back of M&A speculation.

Index comparison



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

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

Telekurs to buy Fininfo financial data unit

Telekurs to buy Fininfo financial data unit

10 July 2007  |  9044 views  |  0 comments
Finextra50 rises to 102.46

Finextra50 rises to 102.46

09 July 2007  |  2451 views  |  0 comments
Finextra50 ends week up at 100.79

Finextra50 ends week up at 100.79

02 July 2007  |  3740 views  |  0 comments
Finextra50 dips slightly to 100.18

Finextra50 dips slightly to 100.18

25 June 2007  |  3138 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.niceactimize.comvisit www.fivedegrees.nlRegister now

Top topics

Most viewed Most shared
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
9320 views comments | 22 tweets | 26 linkedin
satelliteGates Foundation backs Ripple collaboratio...
8784 views comments | 13 tweets | 10 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
7905 views comments | 9 tweets | 17 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
7425 views comments | 10 tweets | 22 linkedin
Eight banks form joint venture to launch blockchain trade platformEight banks form joint venture to launch b...
7065 views comments | 14 tweets | 27 linkedin

Featured job

Competitive base, double ote, benefits
London, UK

Find your next job