In the period from 27 August to 01 October, the Redux Global ICT 100 Index (R-100) rose by 2.6% to 953.46 – something of a rebound after two successive months of decline for the new and far reach global technology index.

Here’s how it performed against other major stock indices over the same period (27 August to 01 October, 2004):
• Mibtel (Italy): +4.4%
• NASDAQ (US): +4.3%
• FTSE 100 (UK): +3.8%
• Dax (Germany): +3.7%
• Redux Global ICT 100: +2.6%
• Hang Seng (HK): +2.4%
• CAC-40 (France): +2.2%
• Dow Jones Ind (US): -0.01%
• Nikkei (Japan): -2.1%

And here are the equivalent performances for the last quarter as a whole (02 July to 01 October, 2004):
• Hang Seng (HK): +8.1%
• FTSE 100 (UK): +5.7%
• Mibtel (Italy): +1.8%
• CAC-40 (France): +1.2%
• Dax (Germany): -0.01%
• Dow Jones Ind (US): -0.9%
• NASDAQ (US): -3.2%
• Redux Global ICT 100: -4.5%
• Nikkei (Japan): - 6.3%

Taken together, these two sets of figures illustrate the recent clawback by technology stocks. If maintained, the R-100 could climb still further against world indices that are beset by economic and political uncertainties. Of course, we’ve heard that before…

Big kids on the block?
Below are last month’s percentage changes in the equity of the R-100’s 15 largest stocks (the change over three months is in brackets):
• Microsoft: +7.8% (-1.1%)
• Intel: -5.1% (-20.5%)
• Cisco: -2.8% (-17.6%)
• IBM: +1.9% (-1.3%)
• Verizon: +2.6% (+10.3%)
• DoCoMo: -7.2% (-0.4%)
• Dell: +2.7% (+2.7%)
• NTT: -12.9% (-29.2%)
• Vodafone: +3.8% (+12.5%)
• SBC: +1.6% (+8.3%)
• Deutsche Telekom: +5.9% (+6.9%)
• Nokia: +17.5% (-2.5%)
• France Telecom: +3.3% (nc)
• Siemens: +6.5% (+4.8%)
• Hewlett-Packard: +4.3% (-6.6%)

In case you can’t be bothered to work this one out for yourself, this means the top five gainers last month were Nokia, Microsoft, Siemens, DT and HP. The four fallers from this group last month were NTT, DoCoMo, Intel and Cisco.

For the last quarter, the big losers were NTT, Intel, Cisco, HP and Nokia. The five biggest three-month gainers were Vodafone, Verizon, SBC, DT and Siemens.

With technology shares leaving behind a slack summer and stirring anew as we enter autumn, it might be fun to watch how they go from here. A mid-month update of the new R-100 PTO and Wireless Trackers will be published here on TelecomRedux on 18 October, 2004.
Jim Chalmers