Cambridge Index declines 4.2%

Cambriege Index 4 May 21

The Cambridge Index dropped 1,234.5 points or 4.2% to close at 28029.3, as six of the top ten Index heavyweights posted weekly losses to their share prices.

AVEVA Group, down 11.5%, announced that the group achieved double digit revenue growth during the second half of the year.

Johnson Matthey, down 1.3%, announced that it has concluded a Memorandum of Understanding with Stena Recycling Group, to develop an efficient value chain in Europe for recycling of lithium ion batteries (LIB) and cell manufacturing materials.

DS Smith, down 0.6%, in its pre-close trading update, announced that trading performance in the second half of the year for all parts of the business in the UK, Europe and the US, showed continued progress.

Frontier Developments, up 1.6%, announced two brand new packs for Planet Coaster: Console Edition.

Xaar, up 21.8%, in its full year results, announced that revenues dropped to £47.98m from £49.38m recorded in the previous year. No dividend has been declared for 2020.

Checkit, up 6.9%, announced that revenues rose to £13.2m from £9.8m recorded in the previous year. Loss before tax narrowed to £5.3m from £9.1m.

Gaming Realms, up 0.6%, announced that revenues rose to £11.40m from £6.88m recorded in the previous year. Loss before tax narrowed to £1.58m from £4.67m. The Board of Directors are not proposing a final dividend for the current year.

1Spatial, unchanged at 44.5p, announced that revenues climbed to £24.60m from £23.39m recorded in the previous year.

Tristel, down 10.4%, in its trading update, announced that second half sales in all markets increased very slowly due to the impact of COVID-19.

Marshall Motor, down 1.4%, announced that the notice of its Annual General Meeting (AGM) to be held on 20 May 2021 is now available on its website here.

Bango, down 0.7%, announced that the notice of the 2021 AGM has been published on the Bango website.

GRC International Group, unchanged at 31.5p, announced today that it has witnessed substantial progress in performance across all its business areas in the second half of FY21.

UK markets ended mostly higher last week, amid continued optimism over the UK’s re-opening and following a series of upbeat quarterly earnings reports. On the data front, Britain’s house prices jumped at its strongest pace since 2004 in April, as investors rushed to take advantage of the extension of the stamp duty holiday. Additionally, the nation’s CBI distributive trade survey's retail sales rose at its fastest pace since 2018 in April, supported by the reopening of non-essential stores.

On the other hand, the BRC shop price index dropped for the first time since 2017 in April. The FTSE 100 index rose 0.5% to settle at 6969.8, while the FTSE AIM 100 index rose 1.7% to close at 6380.0 Meanwhile, the FTSE techMARK 100 index lost 0.7% to end at 6703.9.

US markets ended lower in the previous week, as the US Federal Reserve (Fed) struck a cautious tone on inflation outlook and dampened hopes for a reduction in its monthly bond purchases. On the macro front, the US economy accelerated in the first quarter of 2021, recording its second-fastest growth since the third quarter of 2003, helped by increased vaccinations and massive aid from government. Additionally, the nation’s consumer sentiment jumped to a 14-month high in April, while durable goods orders rebounded in March, driven by growing demand in manufacturing sector. Moreover, the US initial jobless claims dropped for a third consecutive week in the week ended 23 April 2021, while home prices climbed to a new 15-year high in February.

Separately, the US Fed left its interest rate unchanged at 0.25% and reiterated to keep interest rates and asset purchases steady. In another development, US President Joe Biden unveiled plans for a $1.8t stimulus package to support the economy. The DJIA index fell 0.5% to end at 33874.9, while the NASDAQ index lost 0.4% to close at 13962.7.


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