Cambridge Index drops 0.9%

The Cambridge Index dropped 182.86 points or 0.9% to close at 19435.8, as five out of the top ten index heavyweights posted weekly losses to their share price.

Kirly Group Cambridge Index

Cambridge Cognition Holdings, up 11.3% to 147.5p, announced that its Annual General Meeting (AGM) would be held at the registered office of the Company, Tunbridge Court, Tunbridge Lane, Bottisham, Cambridge, CB25 9TU on 8 June 2022 at 10.00 a.m.

Science Group, up 3.9%, in its trading update for the first half of 2022, announced that it expects adjusted operating profit ("AOP") to be around 20% higher than in the same period of the last year. As at 30 April 2022, gross cash stood at £38.4m with net funds of £23.4m. Moreover, the company stated that it has appointed Susan Clement Davies as a Non-Executive Director, with immediate effect.

1Spatial, up 2.5%, announced that its AGM would be held on 21 June 2022 at the offices of Liberum Capital Limited, Ropemaker Place, Level 12, 25 Ropemaker Street, London EC2Y 9LY. Today, the company announced that it has received an initial contract from the New York State Office of Internal Technical Services for the use of 1Integrate software and services.

Dialight, down 4.9%, in its trading update for the period covering 01 January to 30 April 2022, announced that the Group has performed well helped by strong revenue growth combining volume and price. Order intake in the period has also remained robust, with order books at elevated levels. On the outlook front, the group maintained its forecast for the year.

UK markets finished in negative territory in the previous week, amid lingering worries over soaring inflation. On the data front, Britain’s inflation climbed to a 40-year high level in April, as food and energy prices jumped, while the nation’s retail sales unexpectedly climbed in April, amid increased spending on alcohol and tobacco. Additionally, UK’s unemployment rate unexpectedly dropped to a 50-year low in the three months to March, while the nation’s house price index advanced in April. Meanwhile, UK’s consumer confidence index dropped in May, recording its lowest level since records began in 1974. The FTSE 100 index declined 0.4% to settle at 7,390, while the FTSE AIM 100 index fell 0.1% to close at 4,554.0. Meanwhile, the FTSE techMARK 100 index gained 0.8% to end at 6,036.9.

US markets ended in the red last week, as market participants remained worried over the health of the global economy. On the economic front, the US housing market index dropped to a 2-year low in May, on the back of lower demand and rising costs, while the nation’s existing sales declined to its lowest level since June 2020 in April. Additionally, the US housing starts unexpectedly dropped in April, as mortgage rates climbed, while the nation’s building permits unexpectedly declined in the same month. Also, the US initial jobless claims advanced to a four-month high in the week ended 13 May 2022. On the contrary, the US retail sales jumped in April, while the nation’s industrial production rose for the fourth consecutive month in April. The DJIA index fell 2.9% to end at 31,261.9, while the NASDAQ index lost 3.8% to close at 11,354.6.

 

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