Cambridge Index falls 1.0%

The Cambridge Index declined 210.88 points or 1.0% to close at 20288.2, as two out of the top ten index heavyweights posted weekly losses to their share price.

Kirly Group Cambridge Index

AVEVA Group, down 13.7%, in its trading update, announced that it achieved a revenue growth of 18% in 4Q, driven by a strong performance from PI System. Further, the company expects to release its full year results on 8 June 2022.

DS Smith, up 1.3%, in its pre-close trading update, announced that its trading performance has been in line with the board’s expectations. The group witnessed continued momentum during H2 with positive progress in profitability and cash generation.

Darktrace, up 2.3%, announced that it has been chosen by one of the UK's leading port groups to provide cybersecurity to its information technology (IT), and operation technology environment.

1Spatial, up 7.6%, in its audited final results for the year ended 31 January 2022, announced that group revenues rose to £27.0m from £24.6m recorded in the previous year.

Kier Group, up 2.2%, announced the completion of UK's first Passivhaus leisure centre, St Sidwell's Point in Exeter for Exeter City Council.

Aferian, unchanged at 142.5p, today, announced that Non-Executive Director and current chair of the Board's Audit Committee, Erika Schraner, is set to leave the company, with effect from 29 July 2022.

GRC International Group, down 8.2%, today, in its trading update, announced that its strong performance in 2021 continued into 4Q of 2022, resulting in its best month of billing, despite the economic and geopolitical headwinds.

Gaming Realms, down 7.3%, in its final results for the year ended 31 December 2021, announced that revenues climbed to £14.67m from £11.40m recorded in the previous year. The Board of Directors are not proposing a final dividend for this year.

Checkit, down 6.4%, in its unaudited preliminary results for the year ended 31 January 2022, announced that revenues slightly rose to £13.3m from £13.2m recorded in the last year.

CyanConnode, down 4.6%, announced the appointment of Cenkos Securities Plc (Cenkos) as a joint broker, with immediate effect.

Oracle Power, down 2.9%, today announced that it has appointed Strand Hanson Limited as its joint broker with immediate effect.

Bango, down 0.5%, announced that its 2022 Annual General Meeting (AGM) would be held at 14:00 BST (UTC+1), on 25 May 2022, at Bango Cambridge offices (326 Cambridge Science Park, Milton Road, Cambridge, CB4 0WG).

UK markets ended mostly lower last week, amid concerns over global economic growth. On the data front, UK’s public sector net borrowing climbed more than expected in March, while the nation’s house prices grew less than expected in April. The FTSE techMARK 100 index lost 0.7% to end at 6,052.1, while the FTSE AIM 100 index fell 2.8% to close at 4,878.2. Meanwhile, the FTSE 100 index advanced 0.3% to settle at 7,544.6.

US markets ended lower in the previous week, as the US economy contracted in the first quarter of 2022. On the macro front, the US gross domestic product (GDP) unexpectedly declined in 1Q 2022, as the Omicron variant of COVID-19, supply constraints, slump in exports and decline in government spending weighed on output. Moreover, the US new home sales dropped to a four-month low in March, as soaring mortgage rates and house prices reduced affordability, while the nation’s pending home sales declined for a fifth straight month in March. Additionally, the nation’s trade deficit widened to a record high in March, amid Russia-Ukraine war, while the Chicago Purchasing Managers’ Index declined in April. Meanwhile, the US durable goods orders rebounded in the month of March, following a rise in demand for products, while the Michigan consumer sentiment index improved in April. Further, the US personal income rose in March, while the nation’s personal spending climbed in the same month. The DJIA index fell 2.5% to end at 32,977.2, while the NASDAQ index lost 3.9% to close at 12,334.6.

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