Sector movers: Software news impresses market

Software & computer services stocks have been busy updating the market and have been well received overall. Dimension Data's shares have soared after Nippon Telegraph and Telephone (NTT) agreed to buy the South African IT for £2.12bn in cash. The Japanese telecommunications giant will finance the acquisition through cash and debt. Information management specialist SDL, which has purchased automated translation firm Language Weaver, is among the risers. SDL is paying $42.5m (£28.2m) in cash for the US firm, subject to adjustments for closing working capital and cash positions, with target cash in the business of $4m. But, mobile phone messaging technology group Synchronica is sharply lower, even after it reduced its losses sharply in the six months to June 30 as revenues soared. Losses narrowed to £1.34m from £2.49m the previous year as revenues jumped to £3.43m from £1.33m. Asset management data firm Statpro is also lower after it said trading in the first six months of 2010 is in line with expectations but warned new business in the second half could be adversely affected. Mining stocks are weak on the back of lower metals prices, which comes after a slowdown in Chinese growth in the second quarter. ENRC, Rio Tinto and Kazakhmys are among the big names in the sector nursing losses. Top performing sectors so far today Software & Computer Services 658.73 +1.76% Automobiles & Parts 3,074.56 +0.69% Pharmaceuticals & Biotechnology 8,935.04 +0.37% Alternative Energy 4,660.28 +0.21% Oil Equipment, Services & Distribution 18,136.97 +0.09% Bottom performing sectors so far today Mining 19,465.20 -2.35% Life Insurance 3,537.36 -1.83% Fixed Line Telecommunications 1,984.16 -1.67% Industrial Metals & Mining 5,540.95 -1.52% Banks 4,756.71 -1.48%