Index collapses by 11.3 per cent


The fall in the Cambridge Evening News Mid-Anglia Index to 1073.

5 makes a two-week fall of 18.2 per cent compared to a fall of 22 per cent in the UK TechMark and 15.3 per cent in the NASDAQ.

The broader indices have also fallen sharply following the attack on the World Trade Centre and the Pentagon.

The FTSE-100 fell 12.6 per cent, the FTActuaries Allshare 13.5 per cent and the Dow Jones 14.3 per cent. The fall in the week was the worst for the Dow Jones Index since 1933, but this is in part because the U.S. markets were closed for four days the previous week starting the day of the attacks.

In comparing the UK and U.S. markets it seems more sensible to take a two-week view. The heavier falls in the technology indices indicate that technology shares remain susceptible to adverse news affecting the whole market.

Within the Mid-Anglia index there are several constituents that have suffered severe falls. Over the two weeks NXT is down 46 per cent before its results later this week, TTP Communications is down 40 per cent and each of Celltech, Cambridge Antibody Technology and CeNeS Pharmaceutical have fallen 35 per cent.

The total market value of the index constituents has now fallen below the 10 billion level and AWG has overtaken Celltech as the second largest company in the index behind ARM Holdings.

Acambis announced its interim results for the six months to June 2001. These showed an operating loss of 4.9 million, slightly less than that of the previous year. The research and development of vaccines remains the focus of the company.

ARM Holdings announced that Silicon Wave, Inc. (founded in 1997) a leading designer of RF communication systems components had licensed ARM's processor core for integration into its high performance low power Bluetooth baseband processor.

This will enable OEMs to design Bluetooth products that are robust, reliable and provide a long battery life. Silicon Wave products include baseband, radio modem and software solution for Bluetooth wireless communications and a complete line of silicon turners for cable modems and digital set top boxes.

Autonomy and Silverstream have expanded their strategic partnership with an OEM agreement to embed a core piece of Autonomy's dynamic reasoning engine in Silverstream's eXtend Director 3.0.

Users will benefit from the flexibility and power of Autonomy's infrastructure software to identify relevant information in the enterprise.

nCipher announced that iPIN had selected nCipher's nShield for data encryption to enrich its e-Payment Security model. iPIN is a leading provider of e-payment technology to financial institutions, telecommunication providers and merchants.

iPIN allows its partners to offer modular payment products for B2B, B2C and person to person applications for both wireless and the Web.

AWG announced that it would continue to look at ways of restructuring itself to improve its operational and financial efficiency.

An article in The Independent alleging negative news on one of Phytopharm's drugs adversely affected its share price. The company, exceptionally, put out a statement that the article was without foundation and that the journalist had made no contact with the company prior to publication to check that it was correct.

Prelude Trust's unit Genostic Pharma is be taken over by Sciona. Genostic has a patent relating to the identification of 2,500 genes that it believes are connected with the genetic variability of certain diseases.

Sciona will add Genostic Pharma's process to its own technology to give individuals detailed personal information on a disease and the most effective way of managing, such as dietary advice.

Genostico profiling could have a wide medical application for predicting the individual course of illnesses and the therapeutic responses.

Sciona already delivers personalised nutrition and dietary advice to individuals based on genes affecting the metabolism.

Alizyme has obtained regulatory approval from the Medical Control Agency for a 500 patient phase ll trial of its irritable bowel syndrome product, ATL-1251 in the UK.

Preliminary results are expected around the end of 2002 with information for the design of the phase lll trial expected for 2003.

CeNeS Pharmaceutical has signed a strategic alliance with International Processing Corporation of the US to promote CeNeS' oral drug delivery technology OSAT in the US.

OSAT is a technology offering sustained release of drug over an extended period allowing the drug to be taken once a day. IPC's techniques allow taste masking.

Oasis Healthcare has acquired two more dental practices for 565,000 taking its total to 50 and intends to increase the number to 70 by the end of the financial year in March, a level that would represent double the number at the end of the previous financial year.

Vocalis Group announced that it had formed a partnership with S2 Systems International to provide a voice driven interactive system to financial institutions so that their customers can transact (for example, ask for balances, fund transfers or even request overdrafts) using voice commands.

The annual meeting of British Bloodstock Agency passed all the resolutions. Sir Stanley Clarke has now stepped down as chairman and Piers Pottinger has been appointed chairman with immediate effect.

Domino Printing has continued to buy in its shares with purchases of almost four million shares at 102.5p in the last week.