Cambridge Index climbs 0.1%

The Cambridge Index advanced 11.3 points or 0.1% to close at 24638.2, as six of the top ten Index heavyweights posted weekly gains to their share prices.

Cambridge INdex 19102020

Science Group PLC, up 6.4%, announced in its trading update that the group's adjusted operating profit for the year ended 31 December 2020 will exceed the group's expectations as set out at the start of the year.

Frontier Developments PLC, up 3.2%, announced that its Planet Coaster: Console Edition and Planet Coaster: Deluxe Edition will be available in November.

Tristel PLC, up 0.6%, announced in its audited results for the year ended 30 June 2020, that its turnover surged 21% to £31.68m, compared to the previous year. Diluted earnings per share came in at 10.88p, compared to 8.86p in the previous year.

Sareum Holdings PLC, up 32.8%, announced in its results for the year ended 30 June 2020, that its revenue stood at £0.05m for the year. Its loss before tax narrowed to £1.12m from £1.68m recorded last year.

Netcall PLC, up 13.3%, in its audited results for the year ended 30 June 2020, announced that its revenue stood at £25.11m, up from £22.90m recorded in the preceding year. Diluted earnings per share declined to 0.33p from 0.41p. Separately, the firm announced that it has acquired Belgium-based, Oakwood Technologies BV, for a beginning cash consideration of €1.2m, plus earn-out consideration of up to €1.8m.

LPA Group PLC, up 9.7%, announced a significant project award for the UK rail market from Siemens Austria.

Kier Group PLC, down 13.7%, announced that its Annual General Meeting will be held on Thursday, 17 December 2020 at 10.00 am.

1Spatial PLC, down 6.3%, announced the appointment of Andrew Fabian as Chief Financial Officer with immediate effect, following four months as Interim CFO.

AVEVA Group PLC, down 4.8%, in its trading update for the period from 1 April 2020 to 30 September 2020, announced that despite COVID-19 related disruptions, the firm noted a strong demand for its software services.
UK markets ended lower last week, amid concerns over new coronavirus restrictions and Brexit-related uncertainty. Meanwhile, British Prime Minister, Boris Johnson asked businesses to prepare for a no-trade deal Brexit, unless the European Union fundamentally changed course. On the data front, Britain's unemployment rate rose more than expected in the three months to August, reaching its highest level in more than three years, as the coronavirus pandemic continues to take its toll. Meanwhile, UK retail sales grew at the fastest pace since December 2009 in September, as consumers resorted to stockpiling amid rising COVID-19 cases. The FTSE 100 index declined 1.6% to settle at 5919.6, while the FTSE AIM 100 index dropped 1.9% to close at 4970.7. Also, the FTSE techMARK 100 index lost 1.6% to end at 5806.2.

US markets ended higher in the previous week, after Pfizer announced that its COVID-19 vaccine might be submitted for approval by next month. On the data front, US consumer prices rose, while the nation’s producer prices rebounded more than expected on an annual basis in September. US retail sales surpassed investor expectations in September, underscoring the fact that consumers continue to purchase amid the viral outbreak. In contrast, the number of Americans filing new claims for jobless benefits surged to a two-month high last week, stoking fears that the COVID-19 pandemic was inflicting lasting damage on the labour market. Separately, the International Monetary Fund (IMF) forecasted that the global economy would shrink by 4.4% in 2020, compared to its June prediction for an economic contraction of 4.9%. For 2021, the IMF is now anticipating growth of 5.2%, compared to an earlier forecast of 5.4%. The DJIA index rose 0.1% to end at 28606.3, while the NASDAQ index gained 0.8% to close at 11671.6.


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