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R-100 Index Past Results & Analysis Redux Global ICT 100 Index: further analysis
R-100 Index Past Results & Analysis Redux Global ICT 100 Index: further analysis 
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| Redux Global ICT 100 Index: further analysis |
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| Wednesday, 11 August 2004 | |
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11
August, 2004: Last week saw the unveiling of our new global technology
share index. As promised, here are some more figures to break down the
'R-100's' disappointing debut…
Monday 02 August saw the introduction of the Redux Global ICT 100 Index ('R-100'), designed to measure the financial health of the global technology sector (click here to see the original announcement). It opened at a disappointing fall of nearly 6.4% for the month of July. The fall reflected across-the-board losses in Europe, counter-balanced by some gains among operators in North America (where manufacturers and suppliers were generally down) and a steady performance in Asia. To put this into financial perspective, from an opening value (by market capitalisation) of US$3.365trn – that's nearly three and a half trillion dollars – four weeks in July saw more than US$200bn wiped off the value of the R-100. As the Index prepares to go weekly from next month, we are providing added analysis for users to become accustomed to her ways. Regional rebirth? Dissected regionally, the relative performances of Europe, North America and Asia are significant, although the real news is in the divergence of 'new' and 'old' technology stocks in the US. The European component of the Index fell from 31.3% to 29.4%, confirming the overall malaise afflicting European technology stocks. North America rose from an initial 53% to 54.8% – underlining the importance of the 'widows and orphans' stocks of the former 'Baby Bells'. In Asia, R-100 stocks went from constituting 15.7% of the R-100 to a princely 15.8%, reflecting a degree of stability. How did I do? The R-100's 6.32% fall over July is interesting when compared to the major stock market indices for the bourses which host the R-100 companies worldwide. Among these, for the period 02 July until 30 July, the following movements were recorded: • Mibtel (Italy): +1.3% • Hang Seng (HK): +0.1% • FTSE 100 (UK): +0.1% • Dow Jones Ind (US): -1.4% • CAC-40 (France): -2.1% • Dax (Germany): -2.6% • Nikkei (Japan): - 3.4% • Redux Global ICT 100: 6.32% • NASDAQ (US): -14.5% So that's it then: we can blame the fall on the NASDAQ, which is home to nearly 20 companies in the R-100 (for a full list of the companies, click here). So far this month, there are few signs of an immediate turnaround. But then, as someone once might have said, "Rome wasn't built in August". In order to email comments and suggestions regarding the Redux Global ICT 100 Index, please email us by clicking on the name below. Jim Chalmers |
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