Cambridge Index falls 1.4%

The Cambridge Index declined 1.4% or 233.7 points, to end at 16,643, following losses in index bellwethers, ARM Holdings and DS Smith.

ARM Holdings fell 3.6% during the week, despite announcing that China’s Rockchip Electronics has acquired subscription licenses for its ARMv8-A and ARMv7 architecture-based processors. Meanwhile, Goldman Sachs added the stock to its “Conviction Buy” list. Among other heavyweights, Johnson Matthey rose 0.8% as the company had its “Buy” rating reiterated by Liberum Capital.

Blinkx rose 24.5%, after the company announced that its first-half revenue increased 36% to $111.6m from $82.m while adjusted pre-tax profit surged 93% to $15.2m from $7.9m compared with the same period last year.

Bango, up 13.7%, announced an optimistic 2014 outlook and noted that it expects to benefit from factors such as additional Google Play integrations, the first wave of HTML5 games marketed through Facebook and a general increase in Microsoft and HTML5 business.

Elektron Technology remained unchanged at 9.9p as the company completed the sale of its manufacturing subsidiary, Elektron Components (Shenzhen) Limited and the two of its Sifam branded product lines for a total cash consideration of approximately £0.3m.

Dialight fell 13.0%, despite announcing that the performance at its ‘Industrial Lighting’ business for the period 1 July 2013 to 6 November 2013 has progressed well. Further, the performance of its ‘Components’ business remained in line with its previous guidance.

CSR, down 9.1%, announced that its third-quarter underlying revenue declined 11% to $252.1m from $282.7m. Pre-tax profit stood at $17.3m, compared to a pre-tax loss of $2.1m recorded in the same quarter last year.

Abcam, down 3.5%, announced that revenue from its US catalogue sales has continued to show growth. The company revised down its revenue expectations from the US ‘Custom Service’ business and noted that Ed Ralph, a “Person Discharging Managerial Responsibilities” (PDMR) sold 6,565 shares in the company at 482p per share.

In the UK, the FTSE 100 index fell 0.4%, to 6,708.4, as investors mulled over the ECB’s surprise rate cut decision. However, losses were capped as data revealed improvement in the nation’s industrial and manufacturing production. Meanwhile, the BoE held its interest rate and the size of its quantitative easing program unchanged at 0.5% and £375bn, respectively. The FTSE techMARK 100 Index fell 0.6%, to 3,001.6, while the FTSE AIM 100 Index declined 0.5%, to 3,662.5.

US markets closed mostly higher during the week, on the back of some upbeat economic reports, particularly the sharp rise in nonfarm payrolls report. Additionally, two US Fed officials recommended maintaining loose monetary policy to support the nation’s economic growth. The DJIA rose 0.9%, to close at 15,761.8, while the NASDAQ fell 0.1%, to settle at 3,919.2.

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