** NEW RESEARCH ** Gains for UK tech stocks in Q1

UK tech stocks got off to a steady start to the year with the notable exception of the telecoms sector. The clear leader was the FTSE Hardware index, up 14.8% in Q1, driven by Spirent which gained 21% in the quarter. This also helped the FTSE Technology Index gain 3.1% qoq.

However, the FTSE SCS index, a proxy for UK listed software and IT services (SITS) companies only managed a gain of 1.8%, trailing the broader market as represented by the FTSE 100 which gained 2.5% qoq. The FTSE Fixed Line index was again the worst performer, down 12.1%, undoubtedly influenced by further uncertainty over BT’s prospects, after the agreement to spin out Openreach  and further speculation on the future of BT Global Services. The FTSE Mobile index performed better with Vodafone and Inmarsat posting Q1 gains of 4.1% and 13% respectively to lift the index by 4.7%.

Subscribers to the TechMarketView Foundation Service can download the latest edition of IndustryViews Quoted Sector to see our latest analysis of how the stock performance of UK software and IT services companies listed on the London Stock Exchange compares with their international peers.

Posted by: HotViews Editor at 16:14

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