Cambridge Index jumps 2.4%


10-04-2018

The Cambridge Index rose 573.5 points or 2.4% to close at 24,735.7, as nine of the top ten Index heavyweights posted weekly gains to their share prices.

Deutsche Bank reissued its “Buy” rating on Johnson Matthey, up 5.5%, with a target price of 3700p.

JPMorgan Chase & Co. reaffirmed its “Neutral” rating on AVEVA Group, up 2.1%, with a target price of 1750p.

Peel Hunt reiterated its “Hold” rating on Abcam, up 2.7%.

FinnCap reiterated its “Corporate” rating on Scientific Digital Imaging, up 8.4%, with a target price of 19p.

Peel Hunt lifted its target price on Dialight, up 4.8%, to 900p from 550p and maintained a “Buy” rating.

1Spatial, up 3.6%, announced that it has signed a contract with Northern Ireland’s Land & Property Services (LPS) agency, in which it will provide software and services to LPS. The contract is worth £1.6m with a tenure of five years. It will design a full management suit based on the existing software which will include core modules of 1Integrate, helping LPS to maintain the accuracy of their mapping data.

Xaar, up 0.9%, announced that its Chief Operations Officer, Ted Wiggans has resigned from the board with effect from 31 March 2018. N+1 Singer restated its “Corporate” rating on the stock.

FinnCap restated its “Corporate” rating on Amino Technologies, up 0.5%, with a target price of 200p.

Frontier Developments, up 0.4%, announced that it will launch the ‘Jurassic World Evolution’ game, along with Universal Pictures, at the E3 Expo on 12 June 2018. The game can be downloaded from Steam for PC, PlayStation 4 and Xbox One as a pre-order. Liberum Capital restated its “Buy” rating on the stock.

FinnCap retreated its “Corporate” rating on Tristel, down 1.8%, with a target price of 150p.

N+1 Singer raised its target price on RhythmOne, down 3.4%, to 56p from 55p and maintained a “Buy” rating. Panmure Gordon reaffirmed its “Buy” rating on Horizon Discovery Group, down 5.3%, with a target price of 205p.

UK markets ended higher last week, after the British manufacturing sector activity surprisingly jumped in March. Meanwhile, the nation’s services sector activity fell more-than-expected in March, while its construction PMI contracted faster-than-expected in the same month. The FTSE 100 index climbed 1.8% to settle at 7,183.6, while the FTSE AIM 100 index added 1.3% to close at 5,314.6. Moreover, the FTSE techMARK 100 index jumped 1.7% to end at 4,350.4.

US markets finished lower in the prior week, as number of Americans claiming first-time unemployment benefits accelerated to a nearly three months high last week, while its services sector activity dropped more-than-expected in March. Also, escalating concerns over a potential trade war dampened investor sentiment.  Moreover, the nation’s trade deficit widened more-than-expected in February. Also, the US economy created the least number jobs in six months in March. The DJIA index dropped 0.7% to end at 23,932.8, while the NASDAQ index lost 2.1% to close at 6,915.1.

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