The PwC SHAREtrack fights its corner
The SHAREtrack100 index, in association with PricewaterhouseCoopers, has put in another sterling showing, out-performing both the FTSE 100 and AIM, although failing to keep pace with the heroics of US indices, NASDAQ and the Dow Jones.
The SHAREtrack rose 1.3 per cent to 6141.5 in a strong week for world stock markets, with the exception of the AIM market where the troubles of the internet gambling stocks led to a fall of 0.8 per cent in the AIM-100 Index.
The PwC SHAREtrack tracks the East of England's 100 leading companies.
FTSE 100’s 1.2 per cent rise in the week could not compete with a significant 3.3 per cent increase in NASDAQ, nor the Dow Jones, which was 1.6 per cent ahead.
Northgate Information Services headed up the list of the week’s biggest risers, putting on 17 per cent following an announcement that it was in discussions that may lead to a bid for the company after a number of unsolicited approaches. It is thought quite likely to be a private equity buyer rather than trade buyer.
BioProgress rose 15 per cent in the week after it appointed a distributor in Turkey for its artificial saliva spray for dry mouth, called HypoSalix.
Pursuit Dynamics fell by almost a third, or 31 per cent on disappointment with the level of sales. At £1.4m, the figure was massively up on the previous year’s level of £90,000, but was much less than expected. The market voted with its feet at the company’s lack of diversification, with almost all of the turnover derived from food and beverage customers.