Index tracking performance of region's listed companies launched
Business Weekly has launched a new index of the East of England's leading listed companies, allowing them to be benchmarked on the national and global stage.
The SHAREtrack100, in association with PricewaterhouseCoopers, boasts 99 companies quoted in London and one, Cambridge Display Technology, on NASDAQ.
The index has been rebased to allow direct comparison with the FTSE 100 and its weekly performance relative to London’s AIM market, the Dow Jones and NASDAQ will also be charted from week to week.
After the first week to October 2, the SHAREtrack100 stood at 6064.77 – up 1.5 per cent on the week, while the FTSE 100 was 5957.8 (up 0.01 per cent). The AIM 100 was down 2.76 per cent, the Dow up 1.4 per cent and NASDAQ down 1 per cent.
Two companies saw their shares surge in value – by almost a quarter in each case.
NASDAQ-listed CDT rose 23.3 per cent to $5.87 on news that licencee, MicroEmissive Displays, had raised over £5m for a volume manufacturing facility in Dresden for its polymer light emitting diode microdisplay products with volume production to start by the second quarter of 2007.
Trafficmaster put on a similarly impressive 22.1 per cent, valuing its shares at 70.5p, following news that Norwich Union is launching its “pay as you drive policy” to all customers. Trafficmaster will provide the blackbox and infrastructure support services.
Imagination Technologies’ shares rose on news that Intel was to invest £5.3m at 88p and had signed a collaboration with the company.
Worst performance on the index was from AIM-listed Bango, whose shares slid by 10.4 per cent.