Misys publishes its interim financial results today against a background of caution among investors.

Analyst Phil Davies of the investment bank Lehman Brothers told Insurance Times: "I would hope to see more details on the levels of visibility and levels of demand in the marketplace.

"Banking and securities have been key problem areas."

Nevertheless he did not expect any nasty surprises.

Lehman Brothers had raised concerns about Misys last month, when the software firm moved to reassure markets that trading for the first half of last year was in line with expectations.

It was joined by Commerzbank which last month downgraded Misys to `sell' from `reduce'.

ABN Amro raised concerns, but left Misys on `hold'.

Misys' stock was trading down on Monday at 318p.