Cambridge Index falls 0.8%

The Cambridge Index dipped 0.8% or 133.9 points to 16,012.9, as five of the top ten index heavyweights recorded weekly losses.

BNP Paribas reaffirmed its “Neutral” rating on the shares of ARM Holdings, up 0.5%. Liberum Capital and Credit Suisse reiterated their “Hold/Neutral” ratings on shares of Johnson Matthey and JPMorgan Chase & Co. restated its “Overweight” rating on the shares of DS Smith, up 1.1%, with a target price of 367p.

Cyan Holdings jumped 17.6%, after reporting positive developments from its Brazilian and Indian markets. Elektron Technology, up 5.9%, announced that it was in advanced negotiations to raise up to £3.5m via a placing and open offer. Bango, up 1.3%, announced the launch of a new payments product, called Bango Payment. Kier Group, up 0.6%, announced that it signed a four-year deal worth £140m to do plannedmaintenance work on a portfolio of 33,000 properties in London and the East of England for Genesis Housing Association.

JPMorgan Chase & Co. restated its “Overweight” rating on the shares of Aveva Group, down 1.3%. Frontier Developments, down 2.6%, has witnessed a reduction in headline revenue and earnings since it has invested in its self-published title 'Elite: Dangerous' in the year to end-May, although this was expected with the capital expenditure planned.

Vernalis, down 2.7%, will receive a payment of €1m after it achieved a milestone with Servier following the treatment of the first patient in a Servier sponsored Phase I trial with a promising new drug candidate. Meanwhile, Oriel Securities and N+1 Singer restated their “Buy” ratings with respective target prices of 56p and 42p. JPMorgan Chase & Co. reiterated its “Overweight” rating on the shares of CSR, down 3.2%, with a target price 750p. Gaming Realms, down 4%, announced that revenues quadrupled to £3.6m from £0.9min its interim results for the six months ending 31 March 2014. However the company’s loss before taxation increased to £4.9m, compared to £3.4 million in the previous year.

Ubisense Group, down 4%, has secured contract extensions worth more than €1.7m from a European telecommunications company for software and services. 1Spatial, down 5.3%, confirmed the immediate availability of Geocortex Essentials Local Government Enterprise License Subscriptions, which will transform how organisations design, develop, and maintain ArcGIS web mapping applications.

Horizon Discovery Group, down 6.9%, has been awarded a £0.4m research grant from the UK's Technology Strategy Board, together with life sciences testing firm LGC Ltd to develop standardisation for next-generation cancer diagnostics. Xaar, down 32.8%, expects its revenue for the full year 2014 to be about £130m against the £134.1m in 2013. Brokers gave diverse ratings to the stock.

UK markets finished mostly higher in the earlier week despite Mark Carney announcing that there may be a sooner-than-expected interest rate hike. In the UK, the FTSE 100 index added 0.7% to 6,825.2 and the FTSE techMARK 100 Index advanced 3% to 3,334.8. Meanwhile, the FTSE AIM 100 Index edged 0.1% lower to 3,404.7.

Markets in the US ended in positive territory in the past week, after the Fed provided positive comments about the US economic recovery and indicated that it was in no hurry to raise interest rates. The DJIA index grew 1% to 16,947.1, while the NASDAQ index rose 1.3% at 4,368.

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