The Cambridge Index declined 315.04 points or 1.4% to close at 22261.2, as six of the top ten Index heavy weights posted weekly losses to their share prices.
Cambridge Index drops 1.4%
AVEVA Group PLC, up 0.8%, in its trading update for the period from 1 April 2020 to 30 June 2020, announced that it delivered strong growth in recurring revenue.
Johnson Matthey PLC, down 2.2%, announced that the Chairman of the Company, Patrick Thomas, has been appointed as a member of the Supervisory Board of Covestro AG with immediate effect.
Frontier Developments PLC, up 5.7%, announced that it has decided to sponsor the Centre for Computing History to lend support to the museum’s ambitious video game preservation project.
Feedback PLC, up 51.4%, announced that its flagship imaging-based communication platform, Bleepa, has been awarded a place on the NHSx National Clinical Communication Tool Framework.
1Spatial PLC, up 11.4%, in its AGM meeting update, announced that it has witnessed resilient performance during the first five months of the new financial year. The board is confident in its ability to deliver long-term, scalable growth.
Quartix, up 10.3%, in its unaudited results for the half year ended 30 June 2020, announced that its revenues increased to £13.1m from £12.5m recorded in the same period a year ago. Further, the firm has recommended an interim dividend of 2.50p.
Dialight PLC, up 4.9%, in its half year results for 2020, announced today that revenues declined to £56.3m, from £76.1m in the same period of the previous year. Diluted loss per share stood at 9.5p, compared to 10.1p in the previous year.
Horizon Discovery Group PLC, down 8.4%, in its trading update for the six months ended 30 June 2020, announced that it expects revenue of around £22.4m for the period, compared to £26.1m in H1 2019. Separately, the company announced that it has inked a set of commercial licence agreements for its cGMP-compliant CHOSOURCE platform with biopharmaceutical firm TrueBinding Inc.
Oracle Power PLC, down 10.3%, announced that it has entered into a non-binding Memorandum of Understanding with The Office of His Highness Sheikh Ahmed Dalmook Al Maktoum (HH Private Office), to collaborate and explore new potential mining opportunities in Africa.
Cambridge Cognition, down 3.9%, announced that Eric Dodd, Non-Executive Director of the company, did not stand for re-election and retires from the Board by rotation.
UK markets closed mostly lower last week, after Britain postponed the easing of some coronavirus-induced restrictions as cases surged. On the data front, UK mortgage approvals for house purchases climbed to a 3-month high in June and house prices rebounded in July. The FTSE 100 index declined 3.7% to settle at 5897.8, while the FTSE AIM 100 index rose 0.3% to close at 4462.6. Meanwhile, the FTSE techMARK 100 index ended marginally lower at 5460.4.
US markets ended mixed in the previous week, amid concerns about the economic damage from the COVID-19 pandemic. Meanwhile, the Federal Reserve left the key interest rate unchanged and the central bank reiterated that it remains committed to using its full range of tools to support the US economy. On the macro front, the US economy contracted at its steepest pace since the Great Depression in the second quarter of 2020. In addition, weekly jobless claims rose last week. Further, the nation’s consumer confidence index dropped in July. In contrast, US durable goods orders climbed more than expected in June. The DJIA index fell 0.2% to end at 26428.3, while the NASDAQ index gained 3.7% to close at 10745.3.
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