Kier Group, down 4.4%, announced that it has been appointed to deliver a programme of capital works across the estate of University Hospitals Birmingham NHS Trust.
CyanConnode Holdings, up 3.1%, announced that its 2023 Annual General Meeting (AGM) will take place on 24 August 2023 at the offices of Herald Investment Management Limited, 10-11 Charterhouse Square, London, EC1M 6ET.
IQGeo Group, unchanged at 299.0p, announced that it has secured contracts with two large North American utility operators. The contracts are with an American gas network provider and a Canadian regional electric grid transmission and distribution operator. Both of these new customers will deploy IQGeo’s Inspection & Survey software which will be used by hundreds of field engineers to monitor, manage, and document the field survey and inspection process that ensures network uptime and safety.
Oracle Power, unchanged at 0.1p, today, announced in an update relating to the development of the Northern Zone project that Riversgold Limited has completed its maiden diamond drilling programme at the Northern Zone Intrusive Hosted Gold Project located 26 km east of Kalgoorlie in Western Australia.
GRC International Group, edged down 9.5%, announced that it is now an official partner of the European Centre for Certification and Privacy (ECCP) and can support the implementation of Europrivacy™/® related services.
Xaar, down 1.1%, announced that it has approved the appointment of PKF Littlejohn LLP as the Company's auditor for the financial year ending 31 December 2023, with immediate effect.
Sareum Holdings, down 4.9%, in its business update, reported good initial progress on the Phase 1a part of the trial. Following the review of the results by the safety review committee, it expects Part 2 of the trial, the multiple ascending dose, to commence in Q3 2023. On the operational front, the loss for the year to 30 June 2023 is expected to be around £3.3m after tax, (2022: £2.2m), which is in-line with market expectations and reflects the increased costs associated with setting up for and commencing clinical studies. Sareum had a cash position of approximately £1.0m as at 30 June 2023 (cash of £2.9m as at 31 December 2022 and £4.3m as at 30 June 2022).
UK markets ended lower last week, amid worries surrounding persistent inflationary pressures and China’s economic slowdown. On the macro front, UK’s annual consumer price inflation slowed to a 15-month low in July, amid decline in energy prices, while the nation’s producer input prices dropped in July. Moreover, Britain’s ILO unemployment rate unexpectedly rose in June, while the nation’s retail sales dropped more than expected in July, as rising cost of living reduced household consumption. Meanwhile, average earnings including bonus grew at a record annual pace in June, while the nation’s DCLG house price index rose in June. The FTSE 100 index declined 3.5% to settle at 7,262.4, while the FTSE AIM 100 index fell 3.5% to close at 3,467.8. Meanwhile, the FTSE techMARK 100 index lost 3.8% to end at 6,171.8.
US markets ended weaker in the previous week, amid speculation over further interest rate hikes and renewed fears about the health of US banks. On the data front, US industrial production rebounded in July, driven by a jump in auto production, while the nation’s retail sales advanced more than expected in July, amid increased consumer spending. Additionally, the US housing starts rose in July, while the nation’s building permits advanced in the same month. Also, the nation’s initial jobless claims dropped in the week ended 11 August 2023. Separately, the US FOMC minutes hinted at further rate hikes by the central bank. The DJIA index fell 2.2% to end at 34,500.7, while the NASDAQ index lost 2.6% to close at 13,290.8.
