BNP Paribas, Berenberg Bank and Natixis maintained positive ratings on ARM Holdings, down 0.2%, with price targets of 1300p, 1350 and 1380p respectively. AlphaValue reaffirmed its “Reduce” rating on Johnson Matthey, down 6.3%, with a target price of 3165p.
Jefferies reaffirmed its “Buy” rating on DS Smith, up 2.8%, with a target price of 410p. Greene King, up 1.1%, has indicated that Spirit Pub Company’s £774m acquisition is no longer dependent on the Competition & Markets Authority approval and could possibly reach a deal by 24 June 2015, following the fulfilment of remaining conditions put forth in Part Three of the Scheme Document.
Kier Group, up 3.7%, announced that it has completed the acquisition of the entire issued share capital of MRBL Limited or Mouchel in a deal worth £265m.
Berenberg Bank reiterated its “Hold” rating on AVEVA Group, flat at 1918p, with a target price of 1977p.
Following the acquisition by Japanese based company, Brother Industries Ltd., Domino Printing Sciences has been delisted from the London Stock Exchange with effect from 12 June 2015. It will therefore be removed from the Cambridge Index.
Horizon Discovery Group, down 0.3%, announced that it has entered into an agreement with DefiniGEN Ltd to develop a variety of unique, gene-engineered iPS (induced pluripotent stem) based cell lines used for research purposes.
Panmure Gordon raised the target price on Sepura, down 0.8%, to 190p from 170p while maintaining its “Buy” recommendation. Vernalis, down 1.4%, announced that its partner, Tris Pharma, has manufactured three registration batches of CCP-07 and material from these batches has been put on 12 months of stability testing of its CCP-07 NDA programme. Canaccord Genuity and Stifel Nicolaus reiterated their “Buy” recommendation on the stock with a target price of 92p and 103p, respectively.
Cyan Holdings fell 23.1%, after it announced a second share placing. The company has raised £4.1m through a 245m share placing at 0.2p per share.
Dialight sank 25.8%, after it issued a profit warning. The company witnessed sluggish order rate for its Lighting segment in the US and Europe which might possibly affect its full year revenue. The company has issued a warning on the FY15 underlying operating profit, indicating that the 1H15 results will be lower as compared to the last year. Stifel Nicolaus reaffirmed its “Sell” rating on the stock with a target price of 500p; however N+1 Singer reiterated its “Buy” recommendation with a target price of 860p.
UK markets ended on a downbeat note last week, as fears over a Greek exit from the Euro dented investor sentiment. The FTSE 100 index declined 0.3% to 6784.9, while the FTSE AIM 100 Index fell 0.8% to finish at 3,467.2. The FTSE techMARK 100 Index edged 1.3% lower to 3,925.2.
US markets closed mixed in the previous week as market participants remained wary of a possible interest rate hike by the Federal Reserve following robust May retail sales and June consumer confidence data. The DJIA index advanced 0.3% to 17898.8, while the NASDAQ Index eased 0.3% to end at 5051.1.
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