The month of June saw the Redux Global ICT 100 Index (R-100) back in positive territory following three months of downward movement. The R-100 came in at 1045.34 on 30 June, 2.3% up on May’s close. It remains 72 points down on the year’s high (March 2006), although it is 5% up on one year ago.

North American stocks led the way, up 0.7%; Asia-Pacific was up 0.39%; Europe declined fractionally, down 0.07%.

The impression of relative stability given by these figure is misleading, however. The R-100’s largest companies were particularly volatile – it just so happens they cancelled each other out overall.

Among those leading the way up were BellSouth (up 7.2%); AT&T (+7%); Verizon (+7.8%); Google (+12.7%) and China Mobile (+9.8%).

Headed in the opposite direction were the likes of Nokia (-4.5%); Vodafone (-6.4%); IBM (-4%); Qualcomm (-11.5%) and NTT DoCoMo (-7.2%).

In Europe, there were 19 gainers, the same number of decliners and two unchanged. In North America, the figures were 17, 21 and two respectively. In Asia, 11 stocks were up, eight were down and two unchanged.
Jim Chalmers