Cambridge Index declines 3.1%

The Cambridge Index dropped 637.8 points or 3.1% to close at 19992.2, as seven out of the top ten index heavyweights posted weekly losses to their share price.

Kirly Group Cambridge Index

Darktrace, down 16.7%, in its Q3 FY 2022 trading update, announced that it has delivered a strong sales performance in the third quarter. Further, the company raised its revenue growth guidance, with FY 2022 y/y revenue growth of between 45.5% and 47.0%.

Sareum, up 43.5%, announced that the European Patent Office has granted a patent for its proprietary SDC-1802 TYK2/JAK1 inhibitor programme, for the treatment of T-cell Acute Lymphoblastic Leukaemia. Feedback, up 14.8%, announced that it has won two contracts to provide its leading product, Bleepa®, for around £200,000 for 12 months. Science Group, up 4.9%, announced that it has posted its annual report and financial statements, together with the notice of annual general meeting (AGM).

Dialight, up 4.1%, announced that its AGM would be held on 19 May 2022.

Oracle Power, up 1.5%, in its Q1 update, announced that it has started the year 2022 with high activity, and expects the Q2 to be similarly busy for the operational and management teams.

Kier Group, up 0.4%, announced that it has been named as a supplier to Crown Commercial Service's Construction Works and Associated Services 2 (CWAS2) / ProCure 23 (P23) framework. Quixant, unchanged at 150.0p, announced that the annual report and accounts, together with notice of AGM have been posted on its website.

Cambridge Cognition, down 8.8%, in its results for the year ended 31 December 2021, announced that revenues rose to £10.09m from £6.74m recorded in the previous year.

GetBusy, down 4.7%, announced that its AGM will be held at its offices at The Works, Cambridgeshire, CB22 3FT at 11am BST on 5 May 2022.

Xaar, down 3.8%, announced that Centillion Solutions has become the latest member of IQGeo's certified partner ecosystem. Bango, down 1.6%, today, announced a new agreement to support T-Mobile US third-party services and offers for customers with the Bango Platform.

Hilton Food Group, down 0.3%, announced details on the timing of its proposed final dividend. If approved by shareholders, the final dividend would be paid on 1 July 2022 and the shares would trade ex-dividend on 1 June 2022.

IQGeo Group, unchanged at 150.5p, announced that its annual report and financial statements for the year ended 31 December 2021 along with its notice of AGM will be posted on its website,

UK markets ended lower last week, as UK’s gross domestic product grew less than expected in February. On the data front, Britain’s economic growth sharply slowed in February, amid slump in car production, while the nation’s goods trade deficit narrowed less than expected in February. Moreover, UK’s unemployment rate declined in the three months to February, reaching to its lowest level since 2019. Meanwhile, UK’s inflation accelerated at its fastest pace in 30 years in March, following a surge in energy prices. Additionally, the nation’s retail sales slowed in March, reflecting rising inflationary pressure on consumer spending. The FTSE 100 index declined 0.7% to settle at 7,616.4, while the FTSE AIM 100 index fell 0.3% to close at 5,089.1. Also, the FTSE techMARK 100 index gained 0.3% to end at 6,098.2.

US markets ended weaker in the previous week, amid growing concerns over rising inflation and ongoing Russia-Ukraine crisis. On the macro front, the US retail sales rose less than expected in March, while the nation’s initial jobless claims increased by more than expected in the week ended 08 April 2022. Meanwhile, the US consumer prices surged to more than a 40-year high in March, as the Russia-Ukraine war resulted in higher food, energy and shelter costs, while the nation’s producer prices accelerated to a record high in March, driven by jump in gasoline prices. Additionally, the US consumer sentiment index rebounded from its lowest level since August 2011 in April, while the nation’s business Inventories climbed more than expected In February. The DJIA index fell 0.8% to end at 34,451.2, while the NASDAQ index lost 2.6% to close at 13,351.1.


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