The Cambridge Index fell 389.7 points or 1.3% to close at 29518.7, as six of the top ten Index heavyweights posted weekly losses to their share prices.
Cambridge Index drops 1.3%
DS Smith, up 3.3%, in its AGM trading statement announced that its trading performance has progressed well and has been in line with expectations during the financial year to date.
Johnson Matthey, down 2.9%, announced that it has collaborated with NextChem’s subsidiary, MyRechemical to commercially develop “waste-to-methanol” technology worldwide.
Frontier Developments, unchanged at 2775p, in its full-year results for the 12 months to 31 May 2021, announced that revenues rose to £90.7m from £76.1m recorded in the previous year.
CyanConnode, up 16.1%, announced that it has won the 2021 Frost & Sullivan Global Smart Metering Technology Innovation Leadership Award.
Science Group, up 10.9%, in its business update announced that it has witnessed resilient performance in its operating divisions and remains confident for the rest of the year. Moreover, the firm announced that it has raised around £18.5m through a share placing of 4,123,839 new ordinary shares at a price of 450p per placing share.
Gaming Realms, up 5.7%, announced that its first Slingo game has gone live in Pennsylvania with BetMGM. Separately, today, the firm announced that half year revenues rose to £7.75m compared to £5.18m recorded in the same period previous year.
1Spatial, up 5.5%, today, announced that it has won a major new multi-year contract to support the UK Government's Geospatial Commission to deliver the National Underground Asset Register (NUAR) project.
Feedback, up 3.7%, announced that it has launched a new product, CareLocker, to enhance its Bleepa technology.
Bango, up 3.1%, in its unaudited interim results for the six months ended 30 June 2021, announced that revenues rose to £7.13m from £4.77m recorded in the same period previous year.
IQGeo Group, up 2.1%, announced that its software has been selected by a top electrical utility provider in Japan. Separately, the company, in its interim results for the six months ended 30 June 2021, announced that revenues climbed to £6.38m from £4.72m recorded in the same period last year.
Checkit, down 5.4%, announced that Chief Financial Officer, Aylsa Muir has stepped down from the Board to pursue other opportunities.
GRC International Group, down 1.2%, in its unaudited results for the 12 months ended 31 March 2021, announced that revenues dropped to £11.76m from £14.15m recorded in the previous year.
UK markets ended lower last week, as UK Prime Minister Boris Johnson announced plans to impose tax rise of more than £12b on health and social care spending. On the data front, UK’s economic growth slowed sharply in July, stoking concerns about stagflation. Additionally, the nation’s construction PMI dropped more-than-expected in August, as material shortages resulted in higher input prices.
Meanwhile, Britain’s retail sales rose in August, as consumer spending increased, while the nation’s house prices climbed to a record high in August, reflecting strong momentum in the housing market. The FTSE 100 index declined 1.5% to settle at 7029.2, while the FTSE AIM 100 index fell 2.1% to close at 6412.5. Also, the FTSE techMARK 100 index lost 2.6% to end at 7444.8.
US markets ended lower in the previous week, as resurgence in Covid-19 cases raised concerns over slowdown in economic recovery. On the macro front, the US JOLTS job openings climbed for a fifth consecutive month in July, while the nation’s weekly jobless claims declined to an 18-month low in the week ended 3 September 2021. Additionally, the US producer prices climbed at its highest annual pace since at least 2010 in August. Separately, the US Federal Reserve in its Beige Book report indicated overall US economic growth had “downshifted slightly to a moderate pace” this summer, amid renewed concerns over rising coronavirus cases. The DJIA index fell 2.2% to end at 34607.7, while the NASDAQ index lost 1.6% to close at 15115.5.
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