JP Morgan Cazenove reissued its “Neutral” rating on Johnson Matthey, down 5.2%, with a target price of 3200p.
Bango, up 20.5%, announced that it has launched a new payment option in Japan for the customers of global online retail gaint, Amazon, with a KDDI or NTT DOCOMO mobile phone account. Furthermore, the company stated that the service will be applicable on the purchase of physical goods and the cost will be charged to the customer’s mobile phone bill.
Cambridge Cognition Holdings, up 14.6%, announced that it has applied its automatic speech recognition (ASR) technology for the development of new products and increase overall clinical trial efficiency. FinnCap reaffirmed its “Corporate” rating on the stock with a target price of 130p.
Sareum Holdings, which remained unchanged at 0.9p, in its Chk1 clinical trials update, announced that the SRA737 Phase 1 monotherapy trial by Sierra Oncology has advanced through six single patient dose cohorts. The preliminary observations from study indicated a very well-tolerated to date progress, with no Grade 2 or higher SRA737-related adverse events reported.
Amino Technologies, down 0.7%, in its half yearly trading update, announced that the trading performance during the period was in line with its anticipations driven by positive order backlog and sales execution. It expects revenue to grow by approximately 21.0% to £40m, from £33m recorded in the same period previous year. The company posted solid margins for the period but expects it to be lower in the second half. FinnCap raised its target price on the stock to 260p from 220p and maintained its “Corporate” rating. Canaccord Genuity downgraded its rating on the stock to “Hold” from “Buy” with a target price of 220p.
Liberum Capital restated its “Buy” rating on Kier Group, down 2.8%, with a target price of 1600p. Marshall Motor Holdings, down 3.3%, announced that it has acquired the business and assets of Leeds Volvo from Harratts Group Limited for £77,000. Moreover, the company completed the sale of its vacant freehold site in Totton, Southampton for £2m. Beaufort Securities reissued its “Speculative Buy” rating on CyanConnode Holdings, down 7.6%, with a target price of 0.6p. FinnCap reiterated its “Corporate” rating on Tristel, down 8.2%, with a target price of 165p.
UK markets finished lower in the previous week, after the shocking results of the general election showed that no party secured an outright majority, throwing the nation into political turmoil ahead of Brexit negotiations. On the data front, UK’s manufacturing and industrial production disappointed with a weaker-than-expected rise in April, while the nation’s construction output surprisingly dipped in the same month. The FTSE techMARK 100 index eased 1.8% to settle at 4,626, while the FTSE AIM 100 index lost 1.1% to close at 4,912.9. Additionally, the FTSE 100 index fell 0.3% to end at 7,527.3.
US markets closed mixed last week, as the testimony of the former FBI Director, James Comey, had no major surprises that could affect Donald Trump’s Presidency. On the macro front, the US ISM non-manufacturing PMI dropped more-than-expected in May, while factory orders eased in April. On the contrary, first-time claims for US unemployment benefits dropped less-than-expected in the week ended 03 June 2017. The NASDAQ index declined 1.6% to close at 6,207.9, whereas the DJIA index rose 0.3% to end at 21,272.
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