Citigroup restated its “Buy” rating on DS Smith, down 4.2%.
Xaar, up 23.3%, announced that its annual revenues increased to £100.1m in 2017 from £96.2m in 2016. However, its profit before tax dropped to £12.3m from £17.9m.
Quixant, up 8.6%, announced that its annual revenues surged 20.8% to $109.2m, while its profit before tax climbed to $15.1m. FinnCap raised its target price on the stock to 530p from 500p.
Science Group, unchanged at 210p, announced that the valuations of two of its freehold properties as at 31 December 2017 stood at £22.6m and £33.9m as per vacant possession model & sale and leaseback model, respectively.
Brady, down 0.4%, announced that its EDM software has been selected by Ustekveikja Energi to support physical power market operations in Norway. N+1 Singer reissued its “Hold” rating on the stock with a target price of 56p.
LPA Group, down 2.4%, announced the appointment of Christopher Buckenham as its Chief Financial Officer and the retirement of its Finance Director, Stephen Brett, and Non-Executive Director, Per Staehr.
Tristel, down 2.7%, announced an agreement with Parker Laboratories Inc. (Parker), giving Parker rights to manufacture and market its Duo chlorine dioxide foam disinfectant.
Gaming Realms, down 3.4%, announced a deal with 1ST Leads Limited to sell its affiliate portals, bingoport and freebingohunter, for £2.4m. Further, the company, in its trading update, announced that the adjusted earnings before tax for the year 2017 stood at £700k. Moreover, it further looks forward to sign two more licensing deal with Gaming Innovation Group and Leander Games.
Marshall Motor Holdings, down 3.7%, announced that its AGM will be held on 22 May 2018.
Cambridge Cognition Holdings, down 13%, announced that its annual revenues slightly fell to £6.7m, while recorded a loss before tax of £284k. The company announced a new pharmaceutical clinical trial contract along with a Digital Health Catalyst grant from Innovate UK. FinnCap stated a target price of 155p.
UK markets ended sharply lower in the last week, as the nation’s inflation fell to its lowest level in 7 months in February and the UK house price index unexpectedly fell in January. The UK’s unemployment rate dropped to a record low level in the three months to January. Also, British retail sales jumped more-than-anticipated in February. The FTSE 100 index dropped 3.4% to settle at 6,921.9, while the FTSE AIM 100 index fell 3.8% to close at 5,291.8. Meanwhile, the FTSE techMARK 100 index declined 6.3% to end at 4,174.4.
US markets also finished in negative territory, after the US Federal Reserve raised its benchmark interest rate and signalled two more rate hikes in this year. Concerns of a potential trade war dragged the stocks sharply lower. The number of Americans filing for unemployment benefits increased in the prior week, while its services PMI fell more-than-expected in March. The DJIA index declined 5.7% to end at 23,533.2, while the NASDAQ index decreased 6.5% to close at 6,992.7.