Berenberg reiterated its “Buy” rating on ARM Holdings, up 3.2%, with a target price of 1400p. The stock received mixed ratings from other brokers.
Deutsche Bank increased its target price on Johnson Matthey, up 0.6%, to 3550p from 3450p and maintained its “Buy” rating. Jefferies reconfirmed its “Hold” rating on DS Smith, down 4.3%, with a target price of 390p. Canaccord Genuity reduced its target price on Greene King, down 7.5%, to 990p from 1100p and maintained its “Buy” rating.
Vernalis, up 20.3%, announced that full year trading and operational activities are in line with management’s expectations. Separately, the company announced that it has successfully completed the multiple-dose comparative bioavailability study of its cough and cold treatment, CCP-08. The stock was subjected to mostly “Buy” rating from brokers.
Frontier Developments, up 1.9%, announced that its annual revenues stood at £21.3m while its self-published revenues grew 13% YoY. The Group expects to report adjusted EBITDA of £6.1m and an operating profit of £1.2m. Numis Securities reaffirmed its “Hold” rating on the stock with a target price of 210p.
AVEVA Group, up 1.7%, announced that the trading in the first quarter of the current fiscal was in line with the expectations. Also, it announced a number of changes in its top management. Peel Hunt reconfirmed its “Buy” rating on Xaar, up 1.0%, with a target price of 570p.
1Spatial, unchanged at 4.3p, announced that David Richards, current Interim Non-Executive Chairman, will step down from his interim role and from the Board of Directors by 31 August 2016. Separately, the company announced that its product, 1Integrate, will be integrated into Esri’s platform, Collector for ArcGIS. Shares in the company are trading higher today following a contract win.
Cyan Holdings, flat at 0.2p, announced that it expects first half revenues of approximately £1.0m, around a 500% increase compared to the same period last year. The stock received mainly positive ratings from brokers.
Brady, down 0.8%, announced orders from Evraz North America and Aleris. Kier Group, down 8.6%, in its full year trading update, announced that trading was in line with management’s expectations. The stock received mostly “Buy” ratings from brokers.
Shares of Amino Technologies rose on 11 July as the company’s half-yearly revenues jumped to £33.0m from the £17.9m posted in the last year. However, the company incurred a loss before tax of £0.549m, against a profit of £3.6m reported in the previous year. On 11 July, Bango stated that its first half margins remained in-line with the expectations while the annualized End User Spend (EUS) increased by 283% year-on-year to £159m.
UK markets closed mostly higher in the last week, after the NIESR’s GDP estimate for the UK economy showed an unexpected rise in the second quarter of 2016. Moreover, the Bank of England eased capital requirements for banks in an attempt to encourage lending. The FTSE 100 index rose 0.2% to 6,590.6, while the FTSE AIM 100 Index fell 1.1% to close at 3,366.8. Moreover, the FTSE techMARK 100 Index jumped 1.1% to 3,992.2.
US markets ended firmer in the previous week, after the US employers added jobs to the labour market in June. Meanwhile, non-manufacturing PMI advanced more than expected in June. The DJIA index added 1.1% to 18,146.7, while the NASDAQ Index jumped 1.9% to 4,956.8.
_____________________________________________________