Fidessa warns on customer cuts

Software company Fidessa saw its shares drop yesterday as caution in the group's outlook stalled analyst upgrades, despite revenue and earnings per share at the half-year stage coming in ahead of consensus. The group, which supplies trading systems to banks, says markets are stabilising, but some customers are experiencing challenging conditions and are looking to reduce their costs or explore strategic options. Numis reduced its recommendation to “hold” from “buy”. The stock fell 4.4 per cent to £11.55.