Cambridge Index rises 1.3%

The Cambridge Index rose 352.4 points or 1.3% to close at 27,110.2, as five of the top ten Index heavyweights posted weekly gains to their share prices.

Cambridge Index 6 April 2021

Bango, up 1.1%, announced that it has launched an updated version of Bango Marketplace, which helps app publishers and performance agencies to target user acquisition campaigns based on purchase behaviour that is not available anywhere else.

Gaming Realms, up 20.3%, announced the launch of Slingo Starburst, its first slot game to be developed in partnership with NetEnt.

Marshall Motor Holdings, up 4.8%, announced that Annual Report and Accounts 2020 are now available on its website and would be posted to shareholders.

Dialight, up 3.6%, announced in its full year audited results for the year ended 31 December 2020, that revenues dropped to £119.0m from £151.0m recorded in the previous year. The board is not recommending a final dividend payment for 2020 (2019: nil).

Cambridge Cognition Holdings, up 2.9%, announced that it has secured a £1.3m contract as the cognitive assessment partner for a schizophrenia trial.

Netcall, down 6.7%, announced that it has issued and allotted 131,600 new ordinary shares of 5p each in the capital of the company following the exercise of share options.

Oracle Power, down 4.5%, announced that a new presentation focusing on the company's development strategy for its highly prospective gold interests both located in world class gold mining districts of Western Australia has been uploaded to its website.

1Spatial, unchanged at 47.0p, announced that it has entered into a multiyear contract with Defra to provide a systematic service for Rural Payments Agency's (RPA) Customer Portal and Land Management System (LMS). The total potential contract value over five years is in excess of £0.9m.

UK markets ended mostly higher last week, amid optimism over economic recovery following rapid vaccine rollouts. On the data front, Britain’s economy grew more-than-expected in the fourth quarter of 2020, amid savings boom, while the nation’s UK manufacturing sector recorded its fastest growth in a decade and at the quickest pace since last November in March, driven by strong inflows of business from domestic and overseas markets.

On the other hand, UK’s house prices rose at its slowest pace since September 2020 in March, while the region’s mortgage approvals fell more than market forecast in February. The FTSE AIM 100 index rose 1.7% to close at 5979.8, while the FTSE techMARK 100 index gained 1.3% to end at 6587.4. Meanwhile, the FTSE 100 index fell 0.05% to settle at 6737.3.

US markets ended firmer in the previous week, amid prospects for a swift global economic rebound. On the macro front, the Dallas Fed manufacturing business index advanced to a 17-year high in March, while the Chicago Purchasing Managers’ Index jumped to its highest level since July 2018 in March, indicating growth in business activity. Moreover, US private sector employment rose at its fastest pace since September in March, while the non-farm payrolls jumped more-than-expected in March, highlighting signs of improvement in the jobs market.

Additionally, US unemployment rate dropped to a one-year low in March, while the nation’s consumer sentiment rose to a one-year high in March, amid optimism over business and labour-market conditions. Adding to the positive sentiment, the US ISM manufacturing index jumped to a 37-year high in March. On the contrary, pending home sales fell for the second straight month in February, while initial jobless claims climbed in the week ended 26 March. In major news, US President, Joe Biden, announced a $2.25t infrastructure package to rebuild America’s economy. The DJIA index rose 0.2% to end at 33153.2, while the NASDAQ index gained 2.6% to close at 13480.1.

 



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