Johnson Matthey, down 3.8%, announced that it would be providing its butanediol (BDO) technology to Fujian Zhongjing Petrochemical Group to produce 600,000 metric tons of bio-degradable plastics (PBAT).
Darktrace, down 1.7%, today, announced that it has launched new risk and compliance (AI) models to protect data privacy and intellectual property of its 8,400 customers around the globe.
Kier Group, down 0.2%, announced that it has partnered with TerrAffix to decarbonise roadside vegetation clearance. Separately, the company announced that it has started on site at its first Trade City scheme in Manchester.
Tristel, up 19.3%, announced that it has received approval from the USA Food and Drug Administration (FDA) for classification (Class II) of Tristel ULT, a high-level disinfectant product for immediate sale.
Oracle Power, up 16.7%, announced that its subsidiary, Oracle Energy has signed a Memorandum of Understanding (MoU) with PetroChina International (Middle East) Company Limited (PCME) for cooperation and joint development of commercial avenues for Oracle Energy's planned Green Hydrogen Project in Sindh, Pakistan.
Frontier Developments, up 3.9%, announced that it would release its trading update covering FY23 financial performance on 14 June 2023.
Sareum Holdings, up 1.9%, announced that it has successfully dosed the first patients in a Phase 1a clinical trial for its lead programme SDC-1801. The dosing commenced at a specialist clinical unit in Melbourne, Australia. Full safety data from this trial are expected to be available during the first half of 2024 and a Phase 1b clinical study is expected to commence as soon as possible thereafter in psoriasis patients.
Cambridge Cognition, down 1.0%, announced that its AGM would be held at 10.00 a.m. on 28 June 2023 at the registered office of the Company, Tunbridge Court, Tunbridge Lane, Bottisham, Cambridge, CB25 9TU.
Dialight, unchanged at 230.0p, announced that it has appointed Stephen Blair as an independent Non-Executive Director, with effect from 7 June 2023. Also, he would become a member of the Audit, Nominations and Remuneration Committees, and would also assume the roles of Remuneration Committee chair and senior independent director.
UK markets ended mostly lower last week, amid persistent worries over further rate hikes by the Bank of England (BoE). On the macro front, UK’s house prices dropped for the first time in nearly 11 years in May, amid higher mortgage rates, while the nation’s services PMI fell in May, indicating persistent inflation pressures. Additionally, Britain’s like-for-like retail sales growth slowed to a seven-month low in May, due to high food prices. Meanwhile, UK’s RICS housing price rose more than expected in May, while the nation’s construction PMI climbed in May. The FTSE 100 index declined 0.6% to settle at 7,562.4, while the FTSE techMARK 100 index lost 1.4% to end at 6,727.3. Meanwhile, the FTSE AIM 100 index rose 0.4% to close at 3,787.2.
US markets ended higher in the previous week, ahead of the US inflation data and the Fed's policy meeting. On the macro front, US ISM services PMI declined to a five-month low in May, amid slowdown in orders and business activity, while the nation’s weekly jobless claims rose to its highest level since October 2021 in the week ended 02 June 2023. Meanwhile, the US factory orders climbed for a second straight month in April, following a rise in orders for national defense. Separately, the Organisation for Economic Cooperation and Development (OECD) stated it expects the US Federal Reserve’s key interest rate to soon reach 5.25%-5.5%, with modest rate cuts in 2H24. Further, the OECD forecasted the US economy to grow 1.6% this year. The DJIA index rose 0.3% to end at 33,876.8, while the NASDAQ index gained 0.1% to close at 13,259.1.
