Sector movers: Software surges, electricals ease

27th Jul 2011 15:09

Software stocks are hot today following updates from big hitters Sage and Autonomy.Accountancy software titan Sage said it has continued to deliver good growth despite an uncertain economic backdrop, and full year results should be in line with the board's expectations.Data search software giant Autonomy posted record revenues in the second quarter and hailed the shift by many of its customers towards its "cloud" computing services. Revenues rose by 16% from the same quarter last year to $256m (£156.5m). Autonomy said its cloud business - which allows customers to manage data on computers remotely - had commitments from customers worth $465m on 30 June, up from $390m three months earlier. Earnings per share climbed to $0.30 from $0.22. Turning to smaller companies, compliance and risk management software group Access Intelligence is posting bigger percentage gains after managing to eke out a profit in the six months to 31 May. Precision tool maker Renishaw is helping to drag the electronic and electrical equipment sector lower despite reporting a rise in full-year pre-tax profits and higher revenue and raising its annual dividend. For the year ended 30 June, total group revenue surges 59% to £288.7m, including £8.9m revenue from acquisitions during the year, up from £181.6m for last year. Top performing sectors so far todaySoftware & Computer Services 734.21 +0.86%Tobacco 32,716.54 +0.77%Real Estate Investment & Services 1,693.47 +0.74%Forestry & Paper 6,742.87 +0.32%Health Care Equipment & Services 3,727.33 +0.15%Bottom performing sectors so far todayElectricity 8,333.93 -4.86%Electronic & Electrical Equipment 3,347.93 -2.72%Fixed Line Telecommunications 2,267.04 -2.59%Chemicals 7,589.93 -2.55%Personal Goods 24,167.53 -2.28%