Cambridge Index drops 0.6%

Cambridge Index 22 Feb 2021

The Cambridge Index fell 163.0 points or 0.6% to close at 28074.2, as six of the top ten Index heavyweights posted weekly losses to their share prices.

Abcam, down 0.2%, announced that Chief Executive Officer, Alan Hirzel, will present at the 2021 SVB Leerink Global Healthcare Conference on 26 February 2021 at 8.00 EST / 13.00 GMT.

Amino Technologies, up 16%, announced today that it has posted its Annual Report and Accounts for the financial year ended 30 November 2020 and notice of Annual General Meeting (AGM) on the Group's website.

Oracle Power, up 13%, announced significant progress of the field-based exploration programme at the Jundee East Gold Project located in the Eastern Goldfields region of Western Australia.

Kier Group, up 6.3%, announced that its independent Non-Executive Director, Dame Heather Rabbatts, will join Associated British Foods Plc as a Non-Executive Director, with effect from 1 March 2021.

Netcall, up 4.2%, announced that it has expanded its Liberty Platform to include Robotic Process Automation (RPA) capabilities and enhancements to Liberty Create, Liberty Converse and Liberty Connect.

1Spatial, up 3.3%, announced that, in partnership with Ordnance Survey, it has won a contract to deliver a Proof of Concept for the Energy Networks Association (ENA).

Tristel, down 10.8%, announced today that first half revenues rose to £16.75m from £14.63m recorded in the same period of the previous year. Profit before tax widened to £3.10m from £2.76m. Also, the board has recommended an interim dividend of 2.62p (2019: 2.34p), representing an increase of 12%.

GRC International Group, unchanged at 25.5p, announced that Executive Director and Group Chief Information Officer, Neil Acworth will step down from the Board with immediate effect.
Sareum, which remained unchanged at 2p, announced that the UK Government Department of Health and Social Care has unveiled its AGILE clinical development platform to fund Phase 1 trials and fast-track the development of potentially ground-breaking Covid-19 treatments.

UK markets ended mostly lower last week, amid concerns over rising inflation. On the data front, Britain’s inflation climbed to its highest level in three months in January, driven by rise in food prices and lower discounts on furniture, while the UK’s house prices climbed at its fastest pace since 2014 in December, amid increasing demand for spacious housing. Moreover, the nation’s consumer sentiment improved in February, amid hopes that the rapid rollout of Covid-19 vaccinations would help Britain’s economy to reopen quickly and recover from its lockdown slump, while UK’s manufacturing PMI unexpectedly rose in February. On the contrary, the nation’s retail sales sharply fell in January, as coronavirus-induced lockdown restrictions resulted in store closures.

The FTSE 100 index advanced 0.5% to settle at 6624, whereas the FTSE AIM 100 index fell 1.2% to close at 6054.8. Also, the FTSE techMARK 100 index lost 2.1% to end at 6315.3.

US markets closed mixed in the previous week, as optimism surrounding US stimulus outweighed concerns over the country’s labour market recovery. On the macro front, the US retail sales strongly rebounded in January, helped by fresh stimulus cheques, while building permits unexpectedly jumped in January. Meanwhile, the nation’s weekly jobless claims unexpectedly rose to a four-week high in the week ended 12 February 2021, while housing starts declined more than expected in January, amid soaring lumber prices. Moreover, the US Markit manufacturing PMI dropped in February, whereas existing home sales unexpectedly rose in January. The latest FOMC minutes indicated that the central bank will continue its loose monetary policy well into the future. The DJIA index rose 0.1% to end at 31494.3, whereas the NASDAQ index lost 1.6% to close at 13874.5.



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