Cambridge Index declines 4.3%

The Cambridge Index fell 1,149.5 points or 4.26% to close at 25819.6, as six of the top ten Index heavyweights posted weekly losses to their share prices.

Cambridge Index 15 Nov 21

AVEVA Group, down 5.1%, in its preliminary results for the six months ended 30 September 2021, announced that revenues rose to £480.9m from £332.6m recorded in the same period previous year. The board has proposed an interim dividend of 13p per ordinary share.

Johnson Matthey, down 16.4%, in its trading update, announced that it has decided to pursue the sale of all or parts of battery materials business, with the ultimate intention of exiting.

Frontier Developments, up 1.7%, announced the release of its Jurassic World Evolution 2 game on PC via Steam and the Epic Games Store, PlayStation®5, Xbox Series X|S, PlayStation®4 and Xbox One for a suggested retail price of £49.99/$59.99/€59.99.

CyanConnode, up 27.6%, in its interim results for the six months ended 30 September 2021, announced that revenues rose to £4.08m from £1.50m recorded in the same period of the previous year.

Kier Group, up 0.9%, announced that it has joined the EV100 and has committed to electrify its fleet of 3,730 vehicles and support its employees EV adoption by installing EV charging stations at 30 locations by 2030.

Aferian, up 0.3%, announced that it has become a member of the RDK Video Accelerator (RDK-VA) and now has RDK-V devices and software systems ready for deployment. The first device to receive RDK-VA certification will be the R180.

Xaar, down 1.9%, announced that its printheads have again been selected by dp polar GmbH to power the latest addition to their range, the AMpolar® i1, which is to be unveiled at this year's Formnext Show in Frankfurt, on 16-19th November.

SDI Group, down 1.9%, announced that Mike Creedon and Jon Abell would conduct a live presentation relating to its interim results for the six months to 31 October 2021 via the Investor Meet Company platform on 10 December 2021.

Bango, down 1.8%, announced that it is supporting the next wave of service providers to launch Amazon Prime as a bundled offer to their customers.

Netcall, down 0.6%, announced the partial redemption of £3.5m from its existing £7m loan note with BGF Nominees Limited. The Loan Note has an annual interest rate of 8.5% and is repayable on or before 31 March 2025.

UK markets ended mostly higher last week, following upbeat corporate earnings results. On the data front, the RICS housing price balance rose in October. Meanwhile, UK’s economy slowed in the third quarter of 2021, amid global supply chain disruptions and staff shortages. Additionally, the nation’s industrial production unexpectedly fell in September, while manufacturing production rose less than expected in the same month.

Separately, Bank of England Governor, Andrew Bailey said the central bank would raise interest rates, if wages soar. The FTSE 100 index advanced 0.6% to settle at 7347.9, while the FTSE AIM 100 index rose 1.3% to close at 6163.7. Meanwhile, the FTSE techMARK 100 index lost 1.2% to end at 7052.7.

US markets ended lower in the previous week, amid concerns over rising inflation. On the macro front, the US consumer sentiment index dropped to a 10-year low in November, while the JOLTS job openings fell in September. Meanwhile, the US consumer prices surged to a 30-year in October, raising the possibility of a sooner-than-expected rate hike by the US Federal Reserve (Fed), while the nation’s producer prices climbed in October, due to a continued surge in energy prices. Additionally, the nation’s weekly jobless claims declined for a sixth consecutive week in the week ended 5 November 2021. Moreover, the US monthly budget deficit dropped in October, as tax collections from individuals and corporations increased. The DJIA index fell 0.6% to end at 36100.3, while the NASDAQ index lost 0.7% to close at 15861.

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