Cambridge Index surges 11.7%


30-12-2020
Cambridge Index 30 dec 20

The Cambridge Index jumped 2568.1 points or 11.7% to close at 24614.9.

Johnson Matthey edged 0.5% down. The company announced that it has signed a deal with thyssenkrupp, a technology provider for world-scale ammonia plants, to renew its collaboration around ammonia process and catalyst supply.

Abcam, up 3.6%, announced that it will publish its trading update ahead of its results for the six months ended 31 December 2020 at 1200 GMT on 11 January 2021. Also, it will release its interim results for the six months ended 31 December 2020 on 8 March 2021. Separately, the company announced that its Chief Executive Officer, Alan Hirzel will present at the 39th Annual JP Morgan Healthcare Conference on 14 January 2021, at 1400 Eastern Standard Time (1900 GMT).

Cambridge Cognition, up 5.5%, announced that it has secured a new contract worth £700,000 with a pharmaceutical client to provide digital assessments of mood and cognition for a depression trial, with most of the revenue expected to be recognised in 2021.
Tristel, which remained unchanged at 535p, announced that it has appointed Caroline Stephens as an Independent Non-Executive Director, with effect from 1 January 2021. It is expected that Caroline will join Tristel's Audit, Remuneration and Nomination committees.

IQGeo Group, which remained unchanged at 82p, announced the completion of fundraising and acquisition. Separately, the firm announced that it has secured a three-year contract worth £1.2m for software and services with a major tier 1 Canadian telecoms network operator.

Oracle Power, unchanged at 0.6p, announced that Non-Executive Director Glen Lewis intends to resign from the board for personal reasons, with immediate effect.

UK markets ended mostly higher last week, after the European Union and Britain entered into a free trade deal. However, gains were limited amid concerns over the rapid spread of a new strain of the coronavirus in the country. On the data front, Britain’s economy rebounded at a faster than estimated pace in 3Q 2020, while current account deficit widened in the third quarter of 2020. Meanwhile, retail sales dropped less-than-expected in November and public sector borrowing advanced to a record high in November. The FTSE 100 index slid 0.4% to settle at 6502.1, whereas the FTSE AIM 100 index rose 3.3% to close at 5782.2. Also, the FTSE techMARK 100 index gained 1.3% to end at 6332.0.

US markets ended firmer in the previous week, amid optimism surrounding the approval of $900b coronavirus financial aid package. On the macro front, the US economy rebounded in the third quarter of 2020, led by reopening of manufacturing, health care and restaurants sector, while the US durable goods rose for a seventh straight month in November, driven by jump in orders for transportation equipment. Moreover, the US weekly initial jobless claims retreated from a three-month high in the week ended 18 December 2020. Meanwhile, the nation’s consumer confidence declined to a 4-month low in December, as renewed business restrictions outweighed investor sentiment over the rollout of a COVID-19 vaccine. Further, the US new home sales fell to a five-month low in November, amid decline in demand due to spike in COVID-19 cases. The DJIA index rose 0.1% to end at 30199.9, while the NASDAQ index gained 0.4% to close at 12804.7.

 

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