Cambridge Index rises 0.6%

The Cambridge Index rose 0.6% or 102 points, to end at 16,673.1, as gains in index bellwethers, ARM Holdings and AVEVA Group, more than offset falls in other index heavyweights Johnson Matthey, DS Smith and Greene King.

AVEVA Group and ARM Holdings added 4.2% and 3%, respectively. Greene King, down 6%, noted that three Directors sold 189000 shares collectively at 807.1p per share. Johnson Matthey slid 1.6%, after UBS reduced its rating on the stock from “Buy” to “Neutral”. DS Smith fell 2% even though Investec reiterated its “Buy” rating on the stock. Investec also increased the target price on the stock to 320p from 300p.

Scientific Digital Imaging advanced 14.6%, although this illiquid and volatile stock is prone to large price changes. Dialight, up 3.2%, announced that Finance Director, Mark Fryer, sold 21,284 shares in the company at 1150p per share.

Shares of Cyan Holdings were unchanged. The company announced an exclusive partnership with Nobre de la Torre in Brazil to collaborate on the development, supply and system integration of Cyan’s smart metering solutions. The company also appointed power industry specialist Carlos Ferreira as its Special Advisor for Latin American markets.

Shares of Abcam rose  3.8%. The company announced that a PDMR (Person Discharging Managerial Responsibilities), Mark Bushfield, has exercised options over 105,372 shares in the company at 468p. The company also noted that a charitable trust, in which the Director, Jonathan Milner, is a trustee, has sold 97,655 shares in the company at 477p per share.

Bango fell 8.3% during the week.  The company reported a 20% drop in its half-year revenue to £4.54m and posted a pre-tax loss of £1.83m. Domino Printing Sciences fell 7.6% despite announcing that sales in the ten months ended August were 7% ahead of the equivalent period last year.

Cambridge Cognition Holdings, down 4.9%, announced its half-year revenue fell 22.2% to £2m while its pre-tax loss more than doubled to £0.7m. Sphere Medical Holding eased 2.9%. The company announced that its half-year pre-tax loss narrowed to £2.9m from £4.4m and further noted that it has made significant progress towards obtaining European CE Mark for Proxima and its subsequent launch into the UK market.

In the UK, the FTSE 100 index rose 0.2%, to 6,596.4. The minutes of Bank of England’s September meeting revealed that Monetary Policy Committee (MPC) members unanimously decided to keep stimulus measures intact, but indicated that UK policymakers were now confident that the UK economy has gained growth momentum. The FTSE techMARK 100 Index rose 0.3%, to 3,000.6, while the FTSE AIM 100 Index advanced 1.9%, to 3,644.6.

US markets rose during the week, after the Federal Reserve surprised investors by maintaining its $85 billion-per-month treasuries and mortgage-backed securities buying program. The DJIA index rose 0.5% to 15,451.1 and the NASDAQ index gained 1.4% to 3,774.7.

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