Software showing signs of positive momentum

Technology is one of the two sectors of the Dow Jones Euro Stoxx index that have posted gains since the start of the year. The sector has grown 1.36% in sterling terms from 31 December 2002 to 27 March 2003, compared to -6.18% on the index as a whole. Software companies are seeing positive earnings and price momentum, the first technology industry to begin showing positive momentum, says SchroderSalomonSmithBarney strategist Stewart Breed. Over the past four months, telecoms and technology stocks have taken over from defensive stocks as the dominant momentum plays, although med...