Sector movers: Software falls as Autonomy fails to impress

The software sector is lower after Autonomy, a heavy hitter in the corporate IT world, delivered record first half profits and revenues, but failed to please the market. The shares lost more than one-tenth of their value in the first hour of trading on Wednesday as earnings per share came in below market forecasts. Second quarter revenue rose 13% to $221.1m, despite foreign exchange headwinds of $0.8m. The revenue figure beat KBC Peel Hunt's forecast of $220m but was below Panmure Gordon's estimate of $222.6m. Colt Group leads the fixed line telecoms sector higher. The business communications specialist is seeing caution give way to increased confidence for the second half of 2010. Total revenue in the first half of 2010 dipped 2.8% to £794.2m from £817.4m a year earlier, primarily due to a 9% decline in voice revenue. On a constant currency basis revenue was down 3.7%. Top performing sectors so far today Alternative Energy 4,553.76 +5.23% Forestry & Paper 4,684.46 +2.96% Oil Equipment, Services & Distribution 18,435.00 +2.12% Banks 4,827.34 +1.92% Fixed Line Telecommunications 1,911.94 +1.66% Bottom performing sectors so far today Software & Computer Services 637.18 -1.73% Tobacco 26,096.89 -0.92% Electricity 6,856.18 -0.40% Household Goods & Home Construction 6,067.52 -0.27%