The Cambridge Index rose 84.2 points or 0.3% to close at 27678.5, as seven of the top ten Index heavyweights posted weekly gains to their share prices.
Cambridge Index rises 0.3%
AVEVA Group, up 0.8%, announced that its 2021 Annual General Meeting (AGM) would be held on 7 July 2021.
DS Smith, up 4.7%, announced a series of ambitious climate targets including a 40% reduction of CO2 emissions per tonne of product by 2030, compared to 2019 levels, and a commitment to reach at least Net Zero emissions by 2050.
Frontier Developments, down 13.8%, in its trading update, announced that trading for the financial year included the ongoing performance of the existing portfolio and the initial revenue contribution from the launch of Elite Dangerous: Odyssey on PC on 19 May 2021. Additionally, it has collected total FY21 revenue of around £91m through sales of both base game units and paid downloadable content.
Amino Technologies, up 11.1%, announced that trading performance has been good during the period with revenue for the first half expected to be around $45.3m, 19% ahead of the prior year. Separately, the firm announced the expansion of its 24i deployment with Kabelnoord, a leading provider of Pay TV and fiber in Netherlands.
Cambridge Cognition, up 5.3%, announced that it would be joining the University of California, San Francisco (UCSF) Brain Health Registry as a cognitive assessment partner.
IQGeo Group, up 2.9%, announced that it has been chosen by Deutsche GigaNetz GmbH, as its strategic supplier of fibre network management and workflow software.
Quartix, up 2.1%, announced that it has officially changed its name to Quartix Technologies Plc.
Oracle Power, down 9.5%, today confirmed positive geochemical sampling results from its maiden orientation survey at its 100% owned Jundee East Gold Project, located in region of Western Australia.
Checkit, down 0.8%, announced that Simon Greenman has been appointed as Non-Executive Director, with immediate effect.
Feedback, unchanged at 1.0p, in its trading update for the year ended 31 May 2021, announced that it has traded well in line with the board expectations. The company’s cash balance stood at £2.2m as at 31 May 2021.
UK markets ended mostly higher last week, following stronger-than-expected UK GDP data. However, gains were limited amid concerns over a potential delay in full economic reopening scheduled on 21 June.
On the data front, Britain’s economy grew at its fastest pace since July 2020 in April, as the easing of Covid-19 lockdown measures buoyed consumer spending. Additionally, the nation’s retail sales rose in May, as all essential and non-essential shops reopened. Moreover, UK’s house prices climbed to a 7-year high level in May, supported by the government’s tax incentive, while trade deficit narrowed in April. On the other hand, UK’s industrial production and manufacturing production, both unexpectedly fell in April.
The FTSE 100 index advanced 0.9% to settle at 7134.1, while the FTSE techMARK 100 index gained 0.6% to end at 6779.1. Meanwhile, the FTSE AIM 100 index fell 1.2% to close at 6095.8.
US markets ended mixed in the previous week, as growing concerns about rising inflation overshadowed optimism over faster economic recovery. On the macro front, US consumer prices rose at its fastest pace since 2008 in May, driven by rise in prices of energy and used motor vehicles. Additionally, the nation’s job openings rose more than expected in April, while weekly jobless claims dropped to its lowest level since March 2020 in the week ended 4 June 2021, as economic activity picked up. Moreover, the US budget deficit narrowed in May, due to improved tax receipts, whereas the US consumer sentiment index rose in June, as inflation fears subsided and households grew more optimistic about future economic growth and employment.
The DJIA index fell 0.8% to end at 34479.6, whereas the NASDAQ index gained 1.8% to close at 14069.4.
A Cambridge and international trading company