Markets were soggy again yesterday with the FTSE 100 flat at 5,875 but the NASDAQ was down 1.3% to 2,279. The Megabuyte Leaders Index slipped 0.6% to 922.4 dragged down by Telecity (down 3.5% to 225p) and Autonomy (2% lower at 936p). Elsewhere in the sector, Computacenter dropped 5% to 165p and RM was 1% lower at 206p following its IMS. Axon was also in the red again yesterday with a 3% drop to 475p as its bid rumour driven bounce seems to be at an end. In the MB Fledgling, Manpower Software suffered from some profit taking despite releasing strong H1 results and the shares ended the day 6% lower at 58p.
Cisco Systems reported results after the US close and said that January sales had been disappointing. The company also cut fiscal Q3 guidance for revenue growth from 15% to 10%. The stock was off as much as 7% in after hours trading and this news may weigh on the UK tech sector this morning.
There is no significant news out this morning.
