DS Smith, down 0.1%, announced a partnership deal with Krones to develop ECO Carrier, a fiber-based substitute for shrink-wrap for PET multipack bottles.
Darktrace, down 2.7%, announced that it would host an annual general meeting on November 3, 2022, at 3 pm at the offices of Latham & Watkins LLP, 99 Bishopsgate, London EC2M 3XF.
GetBusy, up 1.0%, announced that its productivity application for the ERP market, Workiro, has been awarded “SuiteCloud International Partner of the Year” by Oracle NetSuite at SuiteWorld.
Bango, up 0.5%, announced in its interim results for the six months ended 30 June 2022, announced that its revenues rose to $10.8m from $9.9m in the same period a year ago. Loss before tax widened to $1.2m from $0.6m. Separately, the company announced that it has signed a partnership agreement with Movistar Mexico to facilitate mobile payments through direct carrier billing in an effort to encourage its users to adopt digital content and services in Mexico.
Tristel, down 13.7%, along with Parker Laboratories, its manufacturing and distribution partners, has announced that it has launched Tristel Duo into the North American market.
CyanConnode Holdings, down 10.5%, announced that the Executive Chairman John Cronin would make a presentation at the upcoming October Investor Forum: "Shareholder Value in ESG Investing," which is being co-hosted by the London Stock Exchange and Hardman along with Blackbird Plc and Gore Street Energy Storage Fund.
1Spatial, down 1.2%, announced in its interim revenues advanced 11.0% to £14.0m from £12.6m recorded in the same period a year ago. Profit before tax stood at £0.3m compared to a loss of £0.3m. No dividend has been declared for the six months ended 31 July 2022.
UK markets closed lower last week, amid concerns over a significant increase in borrowing, after Britain’s Finance Minister, Kwasi Kwarteng unveiled a new economic plan. On the macro front, UK’s housing prices fell for the first time since October 2021 in September, indicating signs of slowdown in the market. Meanwhile, Britain’s economy grew in the second quarter, easing fears over recession, while the nation’s current account deficit narrowed more than expected in the same quarter. The FTSE 100 index declined 1.8% to settle at 6893.8, while the FTSE AIM 100 index fell 2.6% to close at 3856.7. Meanwhile, the FTSE techMARK 100 index lost 0.9% to end at 5910.0.
US markets ended lower in the previous week, amid constant worries about rising inflation, aggressive rate hikes and economic slowdown. On the data front, the US annualised gross domestic product (GDP) contracted in 2Q 2022, indicating that the world’s largest economy had fallen into technical recession, while the nation’s durable goods orders fell for a second straight month in August. Moreover, the US housing price index unexpectedly declined for the first time since 2012 in July, as mortgage rates climbed, while the nation’s pending home sales declined for the third straight month in August, as higher mortgage rates and house prices reduced affordability. The DJIA index fell 2.9% to end at 28725.5, while the NASDAQ index lost 2.7% to close at 10575.6.
