Shares in ARM Holdings rose 2.2% after Morgan Stanley reiterated its ‘Overweight’ rating on the stock and predicted that the company’s third-quarter results would be better-than-anticipated.
Johnson Matthey gained 3.9%, as Deutsche Bank retained its ‘Buy’ rating on the stock. Aveva Group, up 3.1%, announced that it expects good revenue growth in the first half compared to the same period a year ago. Additionally, the company stated that it has entered into a partnership with Infosys for the development of its Enterprise Solutions business. Morgan Stanley reiterated its ‘Overweight’ rating on the stock ahead of interim results due on 12th November.
Cyan Holdings rallied 20% to 0.6p and emerged as the top gainer in the Cambridge Index. Xaar, up 4.0%, announced that its third quarter revenues matched the Board's estimates, adding that it achieved record quarterly revenue performance as sales continued to increase through the period. The Board expects full year revenues to be in line with expectations.
Abcam gained 1.8%, following the AGM at which it confirmed that it is well positioned to deliver continuing growth. Numis retained its ‘Add’ rating on the company’s stock.
HiWave Technologies fell 9.3% and emerged as the largest faller in the Cambridge Index. Blinkx, down 5.1%, announced that it has agreed outline terms of a deal with Fanlala, to enable its users to access exclusive video content from the latest hit shows, music, and fashion. Barclays Capital maintained its ‘Equal Weight’ rating on Domino Printing Sciences, down 4.0%.
ANT fell 3.6%, despite announcing the appointment of Stuart Darling as a Non Executive Director. Kier Group, unchanged at 1312p, revealed that it has sold its 50% stake in the Bournemouth Library and Greenwich Neighbourhood Resource Centres Project, to Equitix Education 2 Limited and Sanctuary Housing Association, for a combined aggregate consideration of £5.4m.
In the UK, the FTSE 100 index closed 1.8% higher, at 5896.2, reflecting an improvement in risk appetite after Moody’s Investors Service confirmed its investment-grade debt rating on Spain. The FTSE techMARK 100 Index rose 0.9% to 2410.8, while the FTSE AIM 100 Index climbed 1.4% to 3225.7.
US markets mostly ended higher last week as US reports on retail sales, regional manufacturing and house building beat estimates. However, a raft of poor earnings figures from several technology companies pushed the Nasdaq into the red. The Dow Jones Index edged up 0.1% to 13343.5, while the Nasdaq Index fell 1.3% to 3005.6.
_____________________________________________________