Cambridge Index jumps 4%

The Cambridge Index advanced 917.1 points or 4% to close at 23690.9, as all of the top ten Index heavyweights posted weekly gains to their share prices.

Cambridge Index 01062020

AVEVA Group, up 0.2%, announced that it will release its annual results for the year ended 31 March 2020 on 9 June 2020.

1Spatial, up 13.2%, announced that its audited results for the year ended 31 January 2020 is scheduled to be released by mid-June 2020.

Sareum Holdings, up 10.9%, announced that its CEO, Dr Tim Mitchell, will give an online company presentation at BIO Digital 2020 from 8 to 12 June 2020. This presentation will cover Sareum's two proprietary TYK2/JAK1 kinase inhibitor programmes, SDC-1801 and SDC-1802, targeting autoimmune diseases and cancers, respectively. Moreover, Dr Mitchell will outline the emerging potential of this mechanism to modulate the severe inflammatory responses and respiratory symptoms arising from coronavirus and other viral infections.

Cambridge Cognition Holdings, up 9.4% announced that it has won new contracts to support pharmaceutical clients in delivering virtual clinical trials, including two contracts collectively worth over £1m, with most of the cash expected to be recognised in this financial year.

Marshall Motor Holdings, up 8.7%, announced that the UK Prime Minister has permitted showrooms to re-open from 1 June 2020 and hence its physical showrooms will get ready in accordance with the Government’s sector guidelines, by taking all necessary steps to ensure Health and Safety legislation. In addition, its aftersales facilities are open for all customers, as it reports encouraging initial demand. Separately, the company announced today that the board is confident about achieving operational and financial performance in the first quarter of the current financial year.

LPA Group, up 2.3%, announced the appointment of RSM UK Audit LLP (RSM) as its independent Auditor for the financial year ended 30 September 2020, in replacement of Grant Thornton UK LLP.

Science Group, unchanged at 205p, announced that it has finalised bank loan top up and thus increased the debt to £17.5m from £16m as at 28 May 2020 with same terms and conditions. Also, the repayment date for the current loan will be the same as earlier, i.e. September 2026.

Gaming Realms, down 0.5%, announced that its Annual General Meeting (AGM) will be held on 10 June 2020 at 2 Valentine Place, London, England, SE1 8QH.

Checkit, down 4.2%, in its trading update for 3 months to 30 April 2020, announced that its total sales rose to £3.5m from £3.1m in the same period last year. Also, the company notified that it has postponed the release of its preliminary results for the year ended 31 January 2020 to 16 June 2020, following the impact of the Covid-19 lockdown on the finalisation of the audit.

Feedback, down 6.7%, announced that its communication platform, Bleepa, has achieved a CE Mark for Europe.

UK markets closed mostly higher last week, supported by gains in retail and travel related stocks, after British Prime Minister Boris Johnson revealed plans to reopen high street shops, department stores and shopping centres. The FTSE 100 index advanced 1.4% to settle at 6076.6, while the FTSE AIM 100 index rose 4.2% to close at 4499. Meanwhile, the FTSE techMARK 100 index lost 0.3% to end at 5173.7.

US markets ended higher in the previous week, amid optimism over a potential coronavirus vaccine and gradual reopening of the US economy. In economics news, US new home sales unexpectedly rose in April, while the consumer confidence index advanced in May. On the contrary, US durable goods orders fell to its lowest level since August 2014 in April, while weekly jobless claims declined less than expected in the last week. Additionally, US personal spending recorded its biggest drop since 1959 in April, whereas the Michigan consumer sentiment dropped in May. The DJIA index rose 3.8% to end at 25383.1, while the NASDAQ index also gained 1.8% to close at 9489.9.

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