DS Smith fell 3.9% despite a favourable review by Investec Securities. The broker reiterated a “Buy” rating on its stock and set a target price of 310p. Numis Securities downgraded the shares of Aveva Group, which fell by 5.3%, and assigned a target price of 2,550p. The company’s subsidiary, LFM Software, revealed plans to launch new laser software products at SPAR International 2013.
Greene King dropped by 7.4% to 650p even as Barclays Capital reiterated its “Equal-weight” rating on the company’s shares while maintaining its target price at 735p.
1Spatial rose by 12.6% and emerged as the top gainer in the Cambridge index. Amino Technologies, up 1.2%, announced that it secured a new contract with KartinaTV to support Russian language international IPTV service. Ubisense Group, up 0.2%, revealed new sales of its products, ‘myWorld’ and ‘Google Maps for Business’, to Stadtwerke Kiel and Stadt Heidelberg.
Cyan Holdings fell 20.3% as it issued 23,333,333 new ordinary shares at a price of 0.45p per share to raise £1 million. Blinkx lost 7.4% even as the company secured a deal with XOS Digital, enabling Blinkx users access to a wide range of sports content from teams throughout the country. Numis Securities reiterated its “Buy” rating on the shares of Abcam, down 3.2%, and kept the target price at 530p.
Share purchases by CEO Ray Anderson and CFO Gerry Tucker failed to lift Bango’s stock, down 3.9%. Brady, down 1.2%, announced the listing of 50,000 ordinary shares on AIM, trading for which will commence on 10 April.
In the UK, the FTSE 100 index fell by 2.5% to 6,249.8, for the week ended 05 April 2013, following ECB President Mario Draghi’s pessimist remarks on economic recovery in the Eurozone. During the week, the Bank of England, in its monetary policy meeting, left its key interest rate unchanged at 0.50% and maintained its asset purchase programme at £375 billion. The FTSE techMARK 100 Index shed 3.8% to 2,694.7, while the FTSE AIM 100 Index lost 3.1% to 3,199.3.
US markets declined during the week, as dismal jobs, services and manufacturing data spurred concerns about recovery in the world’s largest economy. The Dow Jones Index eased 0.1% to 14,565.3, while the Nasdaq Index fell 1.9% to 3,203.9.
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Cambridge Index falls 3.8%
9 April 2013
In a week that saw more fallers than risers, the Cambridge Index fell 3.8% or 549.9 points to 13,895.5. ARM Holdings fell 4.7% even as it announced its collaboration with Cadence Partners to implement the industry's first Cortex-A57 64-bit processor.