Feeds

Roundup: UK markets on 2 October

London follows Wall Street with series of falls

  • alert
  • submit to reddit

Protecting users from Firesheep and other Sidejacking attacks with SSL

There were some spectacular falls on the London market on Friday, which was reacting to overnight falls on Wall Street. The FTSE was off three per cent, but the technology sector suffered badly. The UK IT sector as a whole was down 14 per cent on the day. The main reason seems to be the weakness of banks and the fact that they are the biggest customers for custom software. Gold pulled past $300 again. In the case of Misys, bank-related business is more than 50 per cent, for Sema and Logica it is around 25 per cent. Misys' fall of 26 per cent was encouraged because Merrill Lynch downgraded Misys, the biggest company in the sector. It does seem that the reaction was extreme, since around 30 per cent of Misys' income is from software licence fees and it is all but impossible for the banks to exist without Misys software. Sema's 23 per cent fall was equally ridiculous since it derives much of its income from multi-year outsourcing contracts which cannot be cancelled without penalties -- assuming Sema performs, of course. Announcing contracts did not help either FI or Logica. FI, a programming operation with an Indian subsidiary, was down 18 per cent despite its £20 million London Electricity contract, while Logica did not profit from the announcement of a £15 million contract with Shell UK Exploration, but perhaps it was a reaction to the previous day's news that it was acquiring the US-based Carnegie Group for $35 million. London Bridge Software was down 15 per cent, CMG fell ten per cent, and Sage was down nine per cent. ® See also US markets on 2 October Click for more stories

Website security in corporate America

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Apple CEO Tim Cook: TV is TERRIBLE and stuck in the 1970s
The iKing thinks telly is far too fiddly and ugly – basically, iTunes
Israeli spies rebel over mass-snooping on innocent Palestinians
'Disciplinary treatment will be sharp and clear' vow spy-chiefs
Huawei ditches new Windows Phone mobe plans, blames poor sales
Giganto mobe firm slams door shut on Microsoft. OH DEAR
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Found inside ISIS terror chap's laptop: CELINE DION tunes
REPORT: Stash of terrorist material found in Syria Dell box
OECD lashes out at tax avoiding globocorps' location-flipping antics
You hear that, Amazon, Google, Microsoft et al?
Show us your Five-Eyes SECRETS says Privacy International
Refusal to disclose GCHQ canteen menus and prices triggers Euro Human Rights Court action
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.
Security and trust: The backbone of doing business over the internet
Explores the current state of website security and the contributions Symantec is making to help organizations protect critical data and build trust with customers.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.