Cambridge Index Rises 1.9%

The Cambridge Index advanced 366.27 points or 1.9% to close at 19370.2, as eight of the top ten index heavyweights posted weekly gains to its share price.

Kirly Group Cambridge Index

DS Smith, up 3.2%, in its final results, announced that revenues rose to £7,241.0m from £5,976.0m recorded in the previous year. The board has declared a final dividend of 10.2p, taking the total dividend for the year to 15.0p per share (2020/21: 12.1p).

Abcam, up 2.7%, today, announced that it has appointed Tommy Thomas as Vice President of Investor Relations.

Gaming Realms, up 12.8%, announced that it has been granted an Online Gaming Service Provider licence by the Connecticut's Department of Consumer Protection, making it the fourth US State where the Group is licensed.

Kier Group, up 4.3%, announced that Kier Property has entered into a five-year joint venture partnership with Housing Growth Partnership to develop residential sites across the UK.

Bango, up 4%, announced that it has entered into a contract with a leading, multinational technology company. Under the contract, the new Bango partner can use the Bango Platform to provide carrier billing and bundling services for its app store payments and subscription services.

CyanConnode, up 1.8%, today, announced that it has received a follow-on order from IntelliSmart Infrastructure Pvt Ltd (IntelliSmart), for the smart metering deployment in Assam, India.

Aferian, up 1.5%, announced that it has entered into a partnership with Now TV, to integrate its pioneering IPTV service with popular OTT services such as HBO GO and Netflix.

Oracle Power, down 15.3%, in its results for the 12 months ended 31 December 2021, reported nil revenues during the period. Cash and cash equivalents stood at £0.87m.

Tristel, down 3.6%, announced that it would provide a trading update for the year ended 30 June 2022 on 18 July 2022.

1Spatial, down 1.0%, in its trading update, announced that it started the new financial year with higher sales backlog, greater network partner and increased levels of recurring revenue.

 GetBusy, down 0.8%, announced that it would release its interim results for the six months ended 30 June 2022, on 13 July 2022.

UK markets ended mostly higher last week. On the data front, UK’s inflation accelerated to a 40-year high in May, amid surge in food and energy prices, while the nation’s house price index climbed in May. Meanwhile, UK’s manufacturing PMI dropped in June, amid slowdown in new orders, while the nation’s retail sales fell in May, as consumers cut back on food spending. Additionally, UK’s consumer confidence dropped to a record low in June, amid concerns over economic slowdown. The FTSE 100 index advanced 2.7% to settle at 7,208.8, while the FTSE techMARK 100 index gained 1.9% to end at 5,857.0. Meanwhile, the FTSE AIM 100 index fell 0.1% to close at 4271.8.

US markets ended sharply higher in the previous week, as worries over inflation and rate outlook eased. On the macro front, the US new home sales rebounded in May. Meanwhile, the US existing home sales declined to a two-year low in May, as house prices surged to a record high, while the nation’s weekly jobless claims fell less than expected in the week ended 17 June 2022, amid tight labour market conditions. Additionally, the US business activity contracted in June, as rapid inflation reduced demand for services, while the nation’s current account deficit widened in the first quarter. Further, the US consumer sentiment index dropped in June, amid persistent concerns over inflation. Separately, US Federal Reserve Jerome Powell, in his testimony before a Senate committee, reiterated his commitment to bring down inflation through higher interest rates and stated that policymakers are not trying to cause a recession in the process. Meanwhile, he said that a recession is possible but still not likely. The DJIA index rose 5.4% to end at 31,500.7, while the NASDAQ index gained 7.5% to close at 11,607.6.

 

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