The Cambridge Index advanced 1,197.4 points or 4.4% to close at 28237.2, as seven of the top ten Index heavyweights posted weekly gains to their share prices.
Cambridge Index climbs 4.4%
SDI Group, up 33.6%, announced that the Group, as a whole, will exceed the market's sales and profit expectations for the year ending 30 April 2021 and substantially for the year ending 30 April 2022.
Checkit, up 8.7%, announced that its trading performance was above the Board's expectations during Q4. Additionally, the Board expects operating result for FY21 to be approximately 15% better than the current market forecast.
Gaming Realms, up 7.6%, announced that it expects full year revenue and adjusted EBITDA to be approximately £11.2m and approximately £3.1m, respectively. Further, the company expects to report its FY20 preliminary results during the week commencing 19th April 2021.
1Spatial, up 7.1%, announced that in collaboration with Esri UK, it has won a two-year contract with gas distributor, Northern Gas Networks (NGN), to deliver the UK's first enterprise migration to Esri's new ArcGIS Utility Network model.
Netcall, unchanged at 59.5p, announced today that it has expanded its Liberty Platform to include Robotic Process Automation (RPA) capabilities and enhancements to Liberty Create, Liberty Converse and Liberty Connect.
Quixant, down 5.2%, announced that it has appointed Canaccord Genuity Limited as its Joint Broker to work alongside finnCap, its existing Nominated Adviser and Broker, with immediate effect.
Kier Group, down 3.6%, announced that it has commenced construction works at the £15.5m leisure centre and community hub project on the Festival Hall site in Kirkby-in-Ashfield.
Amino Technologies, down 2.7%, in its preliminary results for the year ended 30 November 2020, announced that revenues rose to $82.7m from $77.2m recorded in the last year. Further, the Board has recommended a full year dividend of 1.87p per share.
Oracle Power, which remained unchanged at 0.6p, announced today positive progress of the field-based exploration programme at the Jundee East Gold Project located in the Eastern Goldfields region of Western Australia.
UK markets ended higher last week, as the rapid pace of Britain’s Covid-19 vaccine rollout revived hopes for a swift economic recovery. Adding to the positive sentiment, data showed that Britain’s economy sharply contracted in 2020, but grew at a faster-than-expected pace in the fourth quarter of 2020, thereby easing fears of a double-dip recession. Meanwhile, the nation’s industrial and manufacturing production rose less than expected in December.
In major news, Bank of England Governor Andrew Bailey warned that the European Union is poised to lock Britain out of its banking market. The FTSE 100 index advanced 1.5% to settle at 6589.8, while the FTSE AIM 100 index rose 0.4% to close at 6130.9. Also, the FTSE techMARK 100 index gained 0.7% to end at 6448.7.
US markets ended higher in the previous week, amid positive developments related to vaccine rollouts and hopes for a massive stimulus spending by the US government. On the macro front, the US consumer prices rose at its fastest pace in five months in January, driven by higher gasoline prices while the nation’s JOLTS job openings unexpectedly climbed to a 5-month high in December.
On the flipside, US monthly budget deficit widened more than expected in January while initial jobless claims dropped less than expected in the week ended 5 February 2021. Additionally, the US consumer sentiment index unexpectedly declined to a six-month low in February. In other news, US Federal Reserve Chairman, Jerome Powell urged lawmakers and private sector to support workers as US employment market remains far from full recovery amid the ongoing COVID-19 crisis. The DJIA index rose 1.0% to finish at 31458.4, while the NASDAQ index gained 1.7% to close at 14095.5.
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