A mixed global performance has led to the Redux Global ICT 100 Index dipping 0.9% in the trading month to end of March 2006. Even so, at 1107.09 , the R-100 stands at more than 13% higher than a year ago and registers a second highest ever high.

The European component of the R-100 looked to blaze a trail with almost every stock up and a net gain of 3.26%. In North America, shares fell by 4% overall: most telcos and IT heavyweights were strong, but the remainder of stocks dragged them right back down. Asia was mixed, another phenomenal performance at China Mobile leaving Asia up 1.5% net. It would have been greater had other telcos performed more strongly.

Movers and shakers
28 of 40 European R-100 stocks gained in March; 22 of 40 did the same in North America; just eight of 20 in Asia headed north. Early April stock movements show US stocks poised for recovery while their European counterparts are going a-jitter anew. We’ll see soon enough where the balance lies.
Jim Chalmers