Peel Hunt reissued its “Buy” rating on DS Smith, up 2.5%, with a target price of 520p.
AVEVA Group, up 0.2%, announced that its Annual General Meeting for 2017 will be held on 07 July 2017 at One Great George Street, Westminster, London, SW1P 3AA.
CyanConnode Holdings, down 6.6%, announced that its purchase order in Bangladesh has been increased to $9.3m from $5.4m to meet the requirements of the geographic territory in Bangladesh. Furthermore, the company stated that it will also provide Head End Server Software. Separately, the company announced today that a new order has been received for 10,400 smart meters from Larsen & Toubro (L&T) at Tata Power Mumbai, India (Tata Power), strengthening its existing relationship with the company.
Sareum Holdings, which remained unchanged at 0.9p, announced that Dr. Mitchell will be representing at the 6th annual International Cancer Cluster Showcase to be held at the San Diego Convention Centre.
UK markets finished mostly lower in the previous week, after data showed that retail sales in the UK fell more-than-expected in May due to concerns of rising inflation since the Brexit vote. This came to truth as annual inflation rose more-than-expected in May, notching its highest level in nearly four years, while the average weekly earnings grew weaker-than-expected in three months to April.
Meanwhile, the Bank of England left its key interest rate unchanged at 0.25%, with three policymakers voting for an immediate rate hike, influenced by current rising inflation rates. The FTSE 100 index eased 0.8% to settle at 7,463.54, while the FTSE AIM 100 index fell 1.0% to close at 4,861.90. The FTSE techMARK 100 index rose marginally to end at 4,627.79.
US markets closed mixed in the last week. The Federal Reserve, at its recent policy meeting, raised the key interest rate for the second time in 2017 and spelled out the details of its plans to pare back its $4.5t balance sheet this year. US retail sales posted a sixteen-month low level, while the nation’s inflation data showed an unexpected fall for May.The initial jobless claims declined more-than-expected for the week ended 09 June, while the New York manufacturing index exceeded market anticipations in June. The DJIA index advanced 0.5% to end at 21,384.28, while the NASDAQ index dropped 0.9% to close at 6,151.76.
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