Cambridge Index gains 3%


22-01-2019

The Cambridge Index advanced 684.3 points or 3% to close at 23748.2, as Index heavyweights such as Johnson Matthey, DS Smith and AVEVA Group posted weekly gains to their share prices.

Liberum Capital reaffirmed its “Buy” rating on Johnson Matthey, up 4.3%.

DS Smith, up 3.1%, announced that the acquisition of Europac is likely to be completed by today (22 January 2019), having received acceptance from The Board of the Spanish Securities Market Commission.

AVEVA Group, up 7.1%, announced that it has appointed Paula Dowdy to the position of an Independent Non-Executive Director with effect from 01 February 2019.

CyanConnode Holdings, up 12.1%, announced in its trading update for the year ended 31 December 2018 that it anticipates revenues to record a significant surge of 400% to £4.7m, with major contribution from the Indian and Nordic businesses. Separately, the firm announced that it has appointed Arden Partners Plc as the sole broker and Nominated Adviser.

Tristel, unchanged at 272.5p, announced that it will publish its interim results for the six months ended 31 December 2018 on 25 February 2019.

Scientific Digital Imaging, unchanged at 33.8p, announced that its subsidiary, Synoptics Limited, has acquired DeepMatter Plc’s Scanning Ion Conductance Microscope business through an asset purchase agreement.

Frontier Developments, down 1.3%, announced in its trading update for six months ended 30 November 2018, that it expects revenue to sharply jump to £64m from £19m in the same period last year, following effective launch of Jurassic World Evolution game and growth in the sales of the Elite Dangerous and Planet Coaster franchises. Moreover, the company stated that development of its fourth game franchise remains on track and is expected to release between 01 June 2019 and 31 May 2020. Liberum Capital reissued its “Buy” rating on the stock. Peel Hunt reconfirmed its “Buy” rating on the stock.

Greene King, down 1.5%, announced the appointment of Nick Mackenzie as the new Chief Executive Officer (CEO), who will succeed the current CEO, Rooney Anand, with effect from 01 May 2019. Liberum Capital restated its “Buy” rating on the stock.

1Spatial, down 4.3%, announced that it has signed a €1m contract with Ireland's Property Registration Authority for offering software and services for four years. Also, it announced a separate 3-year partnership contract to reinforce Ordnance Survey for delivering the next generation of Geo-Production system.

UK markets closed higher last week, amid gains in banking and financial sector stocks. The UK’s retail sales declined more than expected in December, whereas the nation’s annual consumer prices fell to its lowest level in nearly two years in December. The British Prime Minister Theresa May’s Brexit deal was rejected by the Parliament, raising worries over a possible no-deal Brexit scenario although she fended off a No Confidence Vote from her opposition leader. The FTSE 100 index advanced 0.7% to settle at 6968.3, while the FTSE AIM 100 index rose 0.7% to close at 4721. Meanwhile, the FTSE techMARK 100 index gained 0.8% to end at 4577.

US markets ended in the green in the previous week, driven by rise in banking and technology sector stocks. The US manufacturing production rose to a 10-month high in December, while the industrial production advanced more than expected in the same month. The US producer prices eased to a 2-year low in December, whereas the nation’s consumer sentiment index declined to its lowest level since October 2016 in January. In other news, the Federal Reserve’s Beige Book survey showed that the economic activity in most US districts reported a modest-to-moderate growth in December and early January. The DJIA index rose 3% to end at 24706.4, while the NASDAQ index gained 2.7% to close at 7157.2.

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