Indian outsourcers lead Finextra50 gainers

Indian outsourcers lead Finextra50 gainers

The Finextra50 Financial Technology Index held firm last week, dropping just 0.2% to 83.77. Indian outsourcers Firstsource and Mphasis led the gainers whilst Australia's Bravura was the biggest loser.


Shares in Indian call centre firm Firstsource rose 11.14% to Rs43.4 on market rumours that ICICI Bank is looking to offload its stake (around 25%) in the business. India's second largest bank has refused to comment on the speculation.

Mphasis was the second biggest gainer, with stock up 8.45% to Rs242 after HP completed its $13.9 billion acquisition of EDS, which owns a 62% stake in the Bangalore-based BPO outfit. 

Shares in Australian equities systems developer Iress Market Technology, climbed seven per cent to AUD$6.42 on the back of impressive first half results which saw net profit jump 44% to AUD$18.1 million.

Misys was up 6.34% 167.75p as the merger of its health unit with Allscripts Healthcare Solutions nears. Last week Allscripts said it will hold a shareholder meeting on 22 September to approve the deal.

Thomson Reuters shares also rose last week, up 5.20% to 1,537 pence.


Bravura was the week's biggest loser, down 7.78% to AUD$0.83 after the company reported a heavy drop in net profit to A$1.6 for the year ended 30 June, compared to A$4.4 million for the previous 12 months.

SimCorp also fell, down 5.19% to Dkr749.00.

Shares in Gresham Computing slipped 4.69% to 66 pence despite the UK financial software outfit reporting that its pre-tax losses for the first half narrowed to £435,000 compared to £1.51 million in the same period the previous year.

Index comparison

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

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