Cambridge Index climbs 4.5%

The Cambridge Index advanced 1,085.2 points or 4.5% to close at 25039.6, as eight of the top ten Index heavyweights posted weekly gains to their share prices.

Cambrirdge Index 140920

Johnson Matthey, up 7.4%, announced that it has inked a global strategic alliance agreement with KBR (Houston, USA) to license a ground-breaking ammonia-methanol coproduction process.

DS Smith, up 5.1%, in its trading update for the period since 1 May 2020, announced that its trading performance has been in line with expectations.

Abcam, up 10.3%, announced in its preliminary results for the 12 months ended 30 June 2020, that its revenues came in at £260.0m.

Frontier Developments, up 2.8%, in its full-year results for the 12 months to 31 May 2020, announced that its revenues dropped to £76.09m from £89.68m in the previous year.

CyanConnode, up 24.1%, announced that it has received a new order from the Indian state-owned utility, Madhya Pradesh Paschim Kshetra Vidyut Vitaran Company Ltd, for 350,000 Omnimesh Modules.

Oracle Power, up 13.8%, announced that it had been invited along with its Consortium partners, China National Coal Development Company Ltd and the private office of His Highness Sheikh Ahmed Bin Dalmook Juma Al Maktoum to meet with the Private Power and Infrastructure Board (PPIB) on 11 September 2020.

Bango, up 13.1%, announced that it has agreed for a partnership with ODK Media Inc.

Science Group, up 6.2%, in its trading and dividend update, announced that in light of its resilient performance, the Board anticipates adjusted operating profit for 2020 to be in line or possibly slightly ahead of the group's original expectations for the year.

Gaming Realms, up 1.8%, in its interim results for the six months to 30 June 2020, announced that its revenues jumped to £5.18m from £3.12m in the same period of the previous year. Its basic and diluted loss per share came in at 0.22p, compared to 1.10p.

Cambridge Cognition Holdings, up 1.2%, announced that it has appointed Richard Bungay as a Non-Executive Director and he will join the Board with immediate effect.

Kier Group, down 5.3%, announced that it has appointed Alison Atkinson to its Board of Directors, effective from 15 December 2020.

IQGeo Group, down 2.2%, announced in its interim results for the six months ended 30 June 2020, that its revenues climbed to £4.72m from £3.64m recorded in the same period of the previous year. Basic and diluted loss per share decreased to 3.5p from 4.4p.

UK markets closed higher last week, as investors digested the latest UK gross domestic product figures. The British economy continued to recover in July, but still remains below pre-pandemic levels. Further, a survey showed that British house prices hit a four-year high in August. Meanwhile, the British Prime Minister, Boris Johnson, has threatened to leave negotiations with the European Union if a deal is not secured by October 15. The FTSE 100 index advanced 4% to settle at 6032.1, while the FTSE AIM 100 index rose 0.9% to close at 4835.3. Meanwhile, the FTSE techMARK 100 index gained 2.5% to end at 5746.4.

US markets ended lower in the previous week, pulled down by losses in technology sector stocks and amid doubts over the prospect of another fiscal stimulus package. Additionally, the US President, Donald Trump’s threat to decouple the US economy from China added to market jitters. On the data front, US consumer prices came in better than expected on a monthly basis in August. Weekly jobless claims remained steady for the week ended 5 September. The DJIA index fell 1.7% to end at 27665.6, while the NASDAQ index lost 4.1% to close at 10853.6.

 

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