Cambridge Index rises 1.8%

141019_The Cambridge & FTSE AIM 100 Index Movement

The Cambridge Index advanced 427.6 points or 1.8% to close at 24832.4, as six of the top ten Index heavyweights posted weekly gains to their share prices.

Barclays Capital reiterated its “Overweight” on AVEVA Group, unchanged at 3718p.

Peel Hunt reconfirmed its “Add” rating on Abcam, down 0.2%.

Xaar, up 8.6%, announced that John Mills will succeed Doug Edwards as the Chief Executive Officer with immediate effect. Doug will continue to be available to the company until 31 March 2020 and will remain Chairman of Xaar 3D Limited until 31 December 2019.

Peel Hunt reissued its “Buy” rating on Frontier Developments, up 3.7%.

1Spatial, up 1.5%, announced that it has secured the London Underground Asset Register (LUAR) trial contract from the Greater London Authority (GLA) that will be funded by the Geospatial Commission in order to develop a digital map of the utilities and pipes cables and other key underground items in London. 1Spatial will collaborate with GLA to deliver transformed and platform ready asset register data for the LUAR project. Separately, 1Spatial today announced that its half-yearly revenue surged 23% on an annual basis to £10.9m, while its loss before tax fell to £0.7m.

IQGeo Group, up 1.1%, announced that it has won a new contract from one of Japan's largest power providers to deliver its real-time information sharing geospatial platform for an initial 500 users. In September, IQGeo and its partner NESIC had worked with the Japanese firm to restore power quickly and efficiently across the area affected by Typhoon Faxai in Eastern Japan.

Gaming Realms, down 8%, announced the resignation of Simon Collins as a Non-Executive Director, with immediate effect.

Sareum Holdings, down 9.5%, announced that it will publish its final results for the year ended 30 June 2019 on 15 October 2019.

UK markets ended in green last week, lifted by gains in mining and energy sector stocks, amid hopes that the UK will seal a Brexit deal with the European Union. Britain’s economy contracted in August, and the house price index declined to a six-year low in September. Also, the UK’s industrial production fell more than expected in August, while the nation’s manufacturing production eased in the same month. The FTSE 100 index advanced 1.3% to settle at 7247.1, while the FTSE AIM 100 index rose 1% to close at 4441.8. Meanwhile, the FTSE techMARK 100 index gained 0.2% to end at 5295.7.

US markets closed higher in the previous week, supported by gains in industrial and technology sector stocks, after the US and China reached a partial trade agreement. US inflation advanced less than anticipated in September, whereas the JOLTs job openings fell to its lowest level since March 2018 in August. The Michigan consumer sentiment index surprisingly rose in October. The minutes of the US Fed’s September meeting revealed that the policymakers expressed concerns over the US economic growth, amid ongoing trade tensions between the US and China. The DJIA index rose 0.9% to end at 26816.6, while the NASDAQ index gained 0.9% to close at 8057.

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