Cambridge Index falls 3.3%

The Cambridge Index dropped 698.0 points or 3.3% to close at 20235.4, as six out of the top ten index heavyweights posted weekly losses to their share price.

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Xaar, up 20.2%, announced that it would release its full year results for the year ended 31 December 2021 on 29 March 2022.

CyanConnode, up 11.9%, announced that it has raised around £2.0m in funds through a share placing of 14,285,718 new ordinary shares at an issue price of 14.0p per share.

SDI Group, up 10.4%, today, announced that it has acquired Safelab Systems Limited (Safelab), a UK manufacturer of fume cupboards for a total cash consideration of around £7.7m.

IQGeo Group, up 4.8%, in its final results for the year ended 31 December 2021, announced that revenues rose to £13.85m from £9.16m recorded in the previous year. The Board does not feel it appropriate at this time to commence paying dividends.

Quartix Technologies, up 1.3%, in its AGM trading statement, announced that growth in new installations witnessed in the months of January and February, has continued into March. The Board, therefore, believes that trading for the first three months of 2022 is consistent and in line with market expectations for the year.

Cambridge Cognition, down 3.6%, announced the appointment of Panmure Gordon (UK) Limited (Panmure Gordon) as its Nominated Adviser and Joint Broker, with immediate effect. Aferian, down 0.7%, announced that 24i Chief Executive Officer (CEO), Joachim Bergman, would step down from his role, with immediate effect and from the Board of Directors of Aferian Plc on 30 April 2022.

Dialight, unchanged at 295.0p, today, in its full year results for the year ended 31 December 2021, announced that revenues rose to £131.6m from £119.0m recorded in the previous year. The Board is not proposing a final dividend payment for 2021 (2020: nil).

UK markets ended mostly lower last week, as UK’s inflation accelerated to a 30-year high level in February, intensifying a cost-of-living crisis in the country. On the data front, Britain’s manufacturing PMI dropped in March, as the war in Ukraine disrupted supply chains, while retail sales fell in February, as online sales dropped. Additionally, UK’s public borrowing reported a deficit in February, while the nation’s consumer confidence index dropped to its lowest level since November 2020 in March, amid concerns over rising inflation and ongoing war between Russia and Ukraine. Meanwhile, Britain’s services sector activity expanded in March, while house prices rose to a record high in March. The FTSE techMARK 100 index lost 1.9% to end at 6,085.4, while the FTSE AIM 100 index fell 0.8% to close at 4,990.0. Meanwhile, the FTSE 100 index advanced 1.1% to settle at 7,483.4

US markets ended higher in the previous week, after US Federal Reserve (Fed) Chairman Jerome Powell indicated that the central bank is prepared to take necessary steps to contain surging inflation. On the macro front, the US weekly jobless claims fell to its lowest since September 1969 in the week ended 18 March 2022, as employers held on to their workers. Moreover, both, the US manufacturing and services PMIs advanced more than expected in March. Meanwhile, the US durable goods orders dropped more than expected in February, amid supply chain disruptions, while the nation’s new home sales declined for a second consecutive month in February, amid rising mortgage rates and higher house prices. Additionally, the US consumer sentiment index declined to a 11-year low in March, while the nation’s pending home sales unexpectedly fell for a fourth consecutive month in March. Separately, Fed officials indicated that the central bank is prepared to raise rates by a half-percentage-point at its next policy meeting in May. The DJIA index rose 0.3% to end at 34,861.2, while the NASDAQ index gained 2.0% to close at 14,169.3.


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