Business Weekly - Cambridge, UK

The move surpassed the broader UK indices where the FTSE 100 and TechMARK indices rose 0.6 per cent and the US indices, which fell by around 1 per cent over the same period.

Rebased to the FTSE 100 in October last year, the SHAREtrack has now put a clear 500 points between itself and the FTSE.

The majority of SHAREtrack stocks rose, but only three rose by more than 10 per cent – York Pharmaceutical, up 13 per cent, Acambis up 17 per cent and GeneMedix up 64 per cent.

GeneMedix announced it was moving from the Main market of the London Stock Exchange to the AIM market and that it would be consolidating its shares so that shareholders would have one share with a 10p nominal value for every ten shares (each with a nominal 1p value) currently held. The admission to AIM should go ahead later this week. Reliance Life, which has bought into GeneMedix said that it is expecting rapid growth.

Of the sliders, the worst performer was Telephonetics, down 27.5 per cent, after a trading statement saying that its 2007 results would be substantially below market expectations. The slower uptake of its automated telephony products in the public sector, mainly in the NHS, was the main reason for the disappointment, the company said.

Meanwhile, AT Communications was down 17 per cent after FD, Mark Woodbridge resigned. Woodbridge had been finance director at troubled software company Torex until over two years ago and had continued as a consultant in 2006, before the company's shares were suspended on the 1st of February.