Cambridge Index rises 2.7%

5/06/2018

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The Cambridge Index advanced 739.8 points or 2.7% to close at 28,547.5, as the top four Index heavyweights posted weekly gains to their share prices.

Johnson Matthey, up 6.9%, announced that its annual revenues increased 17.4% to £14.1b, whereas its profit before tax dropped 30.7% to £320m. Liberum Capital reissued its “Hold” rating on the stock with a target price of 3300p. Citigroup restated its “Buy” rating on the stock.

DS Smith, up 0.5%, announced acquisition of a leading integrated packaging business, Papeles y Cartones de Europa, S.A., known as Europac, for an offer price of €1.67bn.

Barclays reaffirmed its “Equal Weight” rating on AVEVA Group, up 3%, with a target price of 1450p. 

Cambridge Cognition Holdings, up 7.7%, announced a $0.5m deal with a major pharmaceutical company, for using its Cognition Kit software in a 12-month clinical trial. FinnCap raised its target price on the stock to 175p from 155p

Dialight, up 5.3%, announced the appointment of Steve Good as a Non-Executive Director with immediate effect.

CyanConnode Holdings, up 2.4%, announced that it has received a purchase order for 5,000 unit smart meters from Larsen & Toubro.

Amino Technologies, unchanged at 205.5p, announced that Dutch cable operator, Kabelnoord, will be utilising Amino’s MOVE end-to-end multiscreen video platform in its fibre-to-the-home network.

Sareum Holdings, unchanged at 0.8p, announced that it has recouped worldwide rights to a pre-clinical technology from Hebei Medical University Biomedical Engineering Center, China that may cure acute myeloid leukaemia and other blood-borne cancers.

N+1 Singer reiterated its “Buy” rating on Brady, down 0.4%, with a target price of 78p.

FinnCap gave a target price of 415p on Quixant, down 0.6%.

Gaming Realms, down 1.3%, announced that it has signed a licensing deal with Sony Pictures Television (SPT) for a tenure of three years to develop and host a new gaming website millionairegames.com on its own platform.

Numis Securities reaffirmed its “Buy” rating on Horizon Discovery Group, down 1.7%, with a target price of 262p.

Bango, down 2%, announced the renewal of its Financial Conduct Authority license as an approved payment provider to allow wider payment services for Bango partners across Europe.

N+1 Singer restated its “Buy” rating on RhythmOne, down 8.4%, with a target price of 65p.

Xaar, down 12.7%, announced that its Chief Financial Officer (CFO), Lily Liu, has decided to resign and will serve the company till 14 November 2018. As a result, Shomit Kenkare will be appointed as the interim CFO with immediate effect.

UK markets ended lower in the last week, weighed down by losses in banking sector stocks. Britain’s net consumer credit rose to an 18-month high in April, while the nation’s consumer confidence index climbed higher-than-anticipated in May. The FTSE techMARK 100 index fell 0.5% to end at 4,769, while the FTSE AIM 100 index slid 0.3% to close at 5,664.7. The FTSE 100 index dropped 0.4% to settle at 4,769.0.

US markets closed mixed in the prior week. US non-farm payrolls rose more-than-forecasted in May, while the nation’s unemployment rate fell to its lowest level since April 2000 in May. Construction spending in the US jumped to a two-year high in April. US GDP was revised slightly lower in the Q1 2018, whereas the pending home sales declined on a monthly basis in April. The DJIA index eased 0.5% to end at 24,635.2, while the NASDAQ index advanced 1.6% to close at 7,554.3.

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