Cambridge Index ends flat

The Cambridge Index finished almost unchanged to close at 24,972.1, as losses in Index heavyweights such as Johnson Matthey and Greene King were offset by gains in DS Smith.

Peel Hunt trimmed its target price on Greene King, down 2.3%, to 625p from 750p and maintained an “Add” rating.

AVEVA Group, up 2.2%, announced that Schneider Electric, a firm holding 60% stake in AVEVA, has reported a rise of approximately 3% in its Industrial Software portfolio revenues. Moreover, the company stated that it anticipates a detailed note on the Schneider Electric Software Business performance along with its half-yearly results on 14 November 2017.

Peel Hunt reissued its “Buy” rating on Gaming Realms, up 7.4%, with a target price of 40p. FinnCap raised its target price on Tristel, up 4.1%, to 150p from 140p and maintained a “Corporate” rating.

N+1 Singer reissued its “Buy” rating on Amino Technologies, down 1.1%, with a target price of 168p.

Beaufort Securities reiterated its “Speculative Buy” rating on Horizon Discovery Group, down 1.3%.

JPMorgan Chase & Co. reaffirmed its “Overweight” rating on Kier Group, down 2.3%, with a target price of 1550p.

RhythmOne, down 12.4%, announced that it has entered into a partnership with algorithm software company, Grapeshot, wherein its programmatic platform will be integrated with Grapeshot’s data to improve brand safety and increase target advertising campaigns. Moreover, the data would allow effective filtration of objectionable content for brands. Numis Securities reiterated its “Add” rating on the stock with a target price of 420p.

Peel Hunt reduced its target price to 720p from 920p on Dialight, down 21.5%, and maintained a “Hold” rating. Berenberg Bank trimmed its target price to 530p from 620p on the stock and maintained a “Sell” rating.

UK markets finished mostly higher last week, following positive comments from the British Prime Minister, Theresa May, stated that she remains “ambitious and positive” about UK’s future and that constructive progress had been made in Brexit negotiations. Moreover, the British economy rose more than anticipated in the third quarter. The FTSE AIM 100 index jumped 2.5% to close at 5,315.4, while the FTSE techMARK 100 index rose 0.5% to end at 4,669.2. Meanwhile, the FTSE 100 index fell 0.2% to settle at 7,505.0.

US markets ended higher in the previous week, led by upbeat earnings reports from technology firms. On the data front, the US manufacturing PMI rose to a nine-month high level in October and services sector advanced to its highest level in eight months in the same month. Besides, the US GDP grew more than market expectations in the third quarter. The DJIA index advanced 0.5% to end at 23,434.2, while the NASDAQ index gained 1.1% to close at 6,701.3.

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