Monday was a poor trading day for technology stocks with the FTSE TechMARK falling by 1.5%. A mix of positive and cautious comments led to market uncertainty. The FTSE 100 managed to stay in the black with a gain of over 0.5%, with most of the thanks going to Daily Mail Group stocks.
Tuesday was not such a good day for the FTSE 100, closing down almost 2%. The TechMARK pushed for a second day of losses, this time falling by over 2%. UK markets were not helped on Tuesday by a fall back from the US after a positive start and bad news from Vodafone over worse than expected subscriber growth. Director, Joanne Roberts commented "from personal experience of Vodafone they should look to get their service levels sorted out if they even want to think of increasing subscriber numbers".
Wednesday was another day in the red for the FTSE 100 with telecommunications and banking stocks dragging the index down further. The FTSE 100 closed almost 1% lower for the second day and the TechMARK made it a hat trick of losses, closing down by almost 2%.
Thursday saw the FTSE 100 shake off its two day losing streak to close up by 1.5%. Gains can be attributed to drug, oil and banking stocks. More good news on the TechMARK side – it managed to shrug its three day losing streak and close up over 2%. Friday saw large gains made during the day for the UK markets.
However, most of these were wiped out following a drop in the US markets after they received worse than expected unemployment news. Oil and Telecommunication stocks saw most of the gains. In terms of trading for the week, the FTSE 100 ended on almost the same note, whereas the TechMARK finished almost 3% lower.