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6 December, 2006 - 16:03 By Staff Reporter

Index neck and neck with U.S. despite DSG slump

Following an extended two week hiatus, the SHAREtrack index, delivered in association with PricewaterhouseCoopers, finished up a healthy 1.15 per cent.Split almost evenly down the middle over the last couple of weeks, the local index finished up more than 155 points at 6386.9 from mid-November’s 6231.2. An increase of 0.6 per cent was achieved over the last week.

The period since the last review saw the UK indices fall with the FT Actuaries All Share down 1.9 per cent but the US ones moved up.

The Standard & Poor Composite was up 2.1 per cent and the NASDAQ 3.5 per cent, but these gains would prove to be negated by the currency effect as the dollar fell from $1.9 to almost $1.98 to the pound in the same period.

In an extended period such as this there are naturally a number of large share price changes, although surprisingly this time, not amongst the larger constituents.

The exception was DSG (formerly Dixons) whose stock was the only one in the top fifteen to move by over 10 per cent. Its fall of 12 per cent managed to hold the index back by over 1 per cent.

While Life Sciences as a sector followed no trend, two important funding rounds showed an appetite for the industry exists. CeNeS’ £4.8m fundraising put 21.7 per cent on its share price over the period. Alizyme managed to attract £14.5m, which lifted its share price over 17 per cent on the day. Still it finished down 8.2 per cent at 87p a share.

The biggest rise was Xaar who climbed 39 per cent following an approach that may lead to a bid.

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