Saturday, 20 March 2010
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| R-100: auld lang syne? |
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| Monday, 05 January 2009 | |
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A glimmer of hope in December trading is not enough to change the tone of a truly dreadful 2008 for the ICT sector, but it may be a sign that a reversal of fortunes is not too far away…
First the good news. The Redux Global ICT 100 Index (R-100) posted a small rise in December 2008, lifted by 2.7% to reach 907.25. In total, 63 out of the one hundred R-100 stocks saw a gain over the month. If this equals a ‘Happy New Year’ message, it’s only because the rest of 2008 has been so unremittingly dire. And so to the bad news. The R-100 fell by 38.4% across the year. December’s mini-rebound was nowhere near enough to prevent an overall fourth quarter loss of 14.9%. That comes of after falls of 8.7% (Q3), 4.9% (Q2) and 16.7% (Q1). . If this equals a ‘Happy New Year’ message, that’s only because 2009 has got to be better. If not… The chipper performance of December 2008 was heartening, nonetheless. R-100 stocks in the EMEA region were up by 3.5% for the month, against a Q4 drop of 6.8% and a fall of 34.8% for 2008 as whole. The equivalent numbers for the Americas were a 1.6% pick-up in December as part of 20.8% (Q4) and 40% (Y2008) declines. Asia-Pacific gained 4.6% in December but lost 10.7% in Q4 and 36.3% for the year. More analysis of the ups and downs of 2008 will appear here soon. Jim Chalmers |
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