Share Indices in February

(By Richard Holway 8.00pm 1st March 09) If you were an investor in US tech or the wider UK market, February (and, indeed, the whole of 2009 to date) has been pretty depressing with double-digit dips YTD. The same applies to Support Services, where the IT staff agencies have suffered and, indeed, the leaders like Capita and Serco have given up much of their earlier gains. In telcom too, BT continued to decline after the much publicised ‘difficulties’ at Global Services. Vodafone at least stabilised after the steep losses in January.

But UK SCS was, yet again, another really bright area. Against a FTSE100 decline of nearly 14% in 2009 YTD, the FTSE SCS Index is up over 6%. This month’s modest but continued rise of 1.3% was helped by Autonomy (up another 11% in Feb), SDL (up 11%), Telecity (up 6%) and Logica (up 5%). Really good to see SITS bucking the overall trend.