Cambridge Index falls 0.3%

The Cambridge Index fell 0.3% or 45.4 points, to end at 17,424.8, following falls in index heavyweights, ARM Holdings, AVEVA Group and Greene King.

ARM Holdings fell 1.7% during the week, despite Bloomberg reporting that Google is considering designing its own server processors using ARM architecture.  The company also announced the acquisition of Geomerics. Credit Suisse reiterated its “Outperform” recommendation on the stock and held the price target at 1,150p.  Conversely, Johnson Matthey shares rose 1%. Deutsche Bank and Liberum Capital reiterated their “Buy” rating on the stock.

Sareum Holdings declined 11.7%. Abcam, down 1.3%, announced that it has awarded PDMR Danielle Miller and Jane Cooke 4,285 and 2,818 nil cost shares, respectively, at 475p under its Long-Term Incentive Plan.

Blinkx, down 0.9%, announced completion of the acquisition of Rhythm NewMedia for $65m. Gaming Realms fell 1.1% during the week. The company announced the acquisition of Quick Think Media for about £2.2m and announced raising about £2.4m through a proposed share placement.

Tristel rose 16.9%, the second consecutive week it has lead the Cambridge index.   CSR, up 15.9%, revealed plans to terminate the development of its camera-on-a-chip (COACH) platform and revised its fourth-quarter 2013 revenues forecast to be between $200m-$210m, up from the previous expectation of between $195m-$215m. The company also announced that Vertu, the world’s foremost luxury mobile phone manufacturer, has chosen its aptX Low Latency audio compression codec for its latest smartphone. Frontier Developments rose 12.2%, as it revealed an upbeat trading update.

Domino Printing Sciences, up 1.7%, posted an 8.0% rise in its 2013 revenue to £335.7m. However, the company posted a 1.0% drop in its underlying pre-profit to £53.0m. Kier Group, up 0.2%, announced that its JV with Balfour Beatty was awarded a £121m contract to construct the new Defence College of Technical Training for the UK Ministry of Defence.

In the UK, the FTSE 100 index fell 1.7%, to 6,440, after the Conference Board’s leading economic indicator declined in October. However, a dovish speech by the Bank of England Governor Mark Carney in New York kept losses in check. The FTSE techMARK 100 Index rose 0.2%, to 3,044.2, while the FTSE AIM 100 Index gained 0.4%, to 3,750.5.

US markets closed lower during the week, as the US Government’s budget deal to avoid government shutdown spurred speculation that the US Fed would soon taper its bond purchases. The DJIA declined 1.7%, to close at 15,755.4, and the NASDAQ fell 1.5%, to settle at 4,001.

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