Solid earnings help fintech index hold steady

Solid earnings help fintech index hold steady

The Finextra50 Financial Technology Index held steady last week at 53.89 as Thomson Reuters, Mphasis and ACI Worldwide all rose on encouraging financial results, offsetting big falls for The Innovation Group and LPS.


Indian BPO outfit Mphasis saw its shares rise 12.67% to Rs169.00 after reporting a massive 270.4% rise in net profit for the first quarter to 2.1 billion rupees.

ACI Worldwide also saw shares rise after posting impressive results. The US firm's stock was up 11.63% to $17.86 after it swung to a $12,94 million net profit for the fourth quarter compared to a loss of $2.01 million the year before. For the year the company posted a net income of $10.6 million compared to a $13.77 million net loss the year before.

Shares in Thomson Reuters rose 8.61% to 1,450.00 pence after it reported Q4 sales and profit ahead of expectations, an increase in integration synergies and a forecast for continued growth through 2009.

The vendor reported a five per cent uplift in Q4 revenues to $3.4 billion, and underlying operating profit up 13% to $833 million. Full year revenue moved up eight per cent to $13.4 billion while operating profit increased 19% to $2.8 billion.

Other companies to see significant gains include:


The Innovation Group, a UK provider of insurance outsourcing services and software was the week's biggest faller, down 10.71% to 5.00 pence. Shares in US mortgage processing firm LPS slipped back 9.56% to $26.19, almost wiping out gains of over 10% the previous week.

Other companies to see significant falls include:

Index comparison

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

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