Cambridge Index declines 3%

The Cambridge Index declined 3% or 486.25 points to 15,929.5, as the share prices of nine of the top ten index heavyweights fell during the week.


Barclays reiterated its “Overweight” rating on DS Smith, down 2.8%, with a target price of 360p. Meanwhile, Jefferies Group increased its price target on the stock to 300p from 280p with a “Hold” rating.

Greene King, down 4.6%, announced that it won an appeal against the Gambling Commission’s bingo license ban. Additionally, N+1 Singer changed its rating on the company’s stock to “Hold” from “Buy” and raised its target price to 848p from 840p.

CSR, down 0.4%, announced that Mr Ron Mackintosh, Chairman, has sold 6,115 ordinary shares of the company at a price of approximately £8.46 per ordinary share. Following the transaction, the Chairman holds 106,000 ordinary shares in the company.

Abcam, down 1.1%, announced the appointment of Sue Harris as a Non-Executive Director on the company’s Board with immediate effect.

Horizon Discovery Group, up 2.4%, stated that its Bioproduction division shipped its first commercially available engineered CHO cell line for use in manufacturing of antibodies. The product is a new revenue stream for the company. Panmure Gordon maintained its “Buy” rating on the stock with a price target of 230p. Oriel Securities maintained its “Buy” rating on Dialight, up 2.2%, with a price target of 900p.

Kier Group, down 1%, announced that it has signed two partnership arrangements with local authorities in the UK. The company also announced that it has been recommended as the preferred bidder for a £400 million 10-year Strategic Property Partnership with Staffordshire County Council and the Police and Crime Commissioner for Staffordshire. Moreover, the company along with its joint venture partner, WSP Global, also won a £200 million 4-year extension of an existing highways services contract with Northamptonshire County Council. Liberum Capital reaffirmed its “Buy” rating on the stock.

Sphere Medical Holding, down 2.1%, announced the appointment of Professor Michael Quintel to its Medical Advisory Board. Bango, down 3.2%, announced that it has launched Direct Carrier Billing (DCB) services for Samsung Galaxy Apps with Telkom South Africa.

Ubisense Group, down 5.5%, announced the appointment of Numis Securities Limited as its nominated adviser and sole broker with immediate effect.

UK markets closed in negative territory last week, following a heavy sell off in energy sector stocks as oil prices continued to decline sharply. The FTSE 100 index fell 6.6% to 6,300.6, while the FTSE AIM 100 Index retreated 2.6% to finish at 3,051.6. The FTSE techMARK 100 Index edged 3% lower to 3,368.

US markets settled lower last week, tracking a global drop in equities, following the recent poor macroeconomic data and regulatory changes in China and political instability in Greece. The DJIA index declined 3.8% to 17,280.8, while the NASDAQ Index lost 2.7% to 4,653.6.

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