Business Weekly - Cambridge, UK

The Sharetrack Index fell 0.6 per cent to 6601, due wholly to DSG, formerly known as Dixons and one of the largest caps on the Index, which dipped 15 per cent.

If it had not been for DSG, the Sharetrack would have risen 0.7 per cent. The company announced disappointing sales at its Curry’s stores, up 1 per cent on a like-for-like basis compared to 4 per cent or more expected by analysts.

The best performance in the period was by Trans-Siberian Gold, up 54 per cent from the depressed levels of below 40p at which it had traded for a month or so. The company issued a statement that it saw no reason for the sharp movement, a view that helped the price down from 67p to close at 58.5p.

Amino Technologies’ results for the year to November were in line with the previously announced position – a move into loss due to delayed shipments of its set top boxes. This did not stop a further five per cent being knocked off Amino’s shares, which were down 4p to 76p.

Air Music and Media issued a trading statement that it would fail to meet market expectations and that it was reviewing its strategic options, hiving over 16 per cent from its shares.

Meanwhile movies and games retailer ChoicesUK fell 16 per cent after its statement that its retail stores continued to experience difficult trading conditions.

Over the same period, the main UK FTSE-100 Index was essentially unchanged but the techMARK and AIM rose by 0.9 per cent and 1.7 per cent, respectively.

The NASDAQ fell 2.5 per cent after a number of disappointing comments from leading companies whilst the Dow Jones lost only 0.5 per cent. Overall stock markets have performed resiliently in the face of rising bond yields.

Investors no longer expect interest rates to be cut in the next few months.