ARM Holdings finished 3.9% higher during the week. Morgan Stanley rated the stock as “Equal Weight”, and reiterated its target price on the stock at 925p. Morgan Stanley also rated Aveva Group, up 0.4%, as “Overweight”.
Brady, up 14%, emerged as the top gainer in the Cambridge Index. The company announced that it has won an order from Royce Corporation - a US based international trading company - to handle its trading, risk management and logistics processes.
Blinkx, up 13.2%, noted that it would release its final results for the 12 months ended 31 March 2013 on 13 May 2013. Xaar, up 10.5%, announced that its Operations Director, Ted Wiggans, has acquired 2,000 shares in the company at a price of 527p per share, increasing his shareholding to 4,634 shares.
CSR rose 7.2% during the week. The company announced that first quarter revenue rose 5% to $237.93m from $226.99m, while operating profit stood at $7.7m, compared to a loss of $15.8m. The company recorded a pre-tax profit of $5.9m, compared with a loss of $16.6m a year earlier, and stated that it expects second quarter revenue to be between $245m - $265m.
Domino Printing Sciences, up 0.1%, is due to issue its interim statement for 6 months ending 30 April 2013 on 25 June 2013.
PDX (Pursuit Dynamics) fell 15.5% during the week, and emerged as the largest percentage faller in the Cambridge Index. Amino Technologies, down 0.6%, announced the appointment of Martin Wilks as Director of Engineering.
Ubisense Group, down 2%, announced that it has been selected by Black Hills Corporation, a leading North American energy company, to provide network asset realignment services for its operations in Iowa, Kansas, Nebraska, Wyoming and Colorado.
In the UK, the FTSE 100 index rose 1.6% to 6,625 during the week ended 10 May, as upbeat economic data and strong corporate earnings bolstered investors’ confidence. The FTSE techMARK 100 Index rallied 3% to 2,833.5, while the FTSE AIM 100 Index edged 0.8% higher to 3,269.6.
US markets advanced during the week, buoyed by a better-than-expected jobless claims report. Positive sentiment was fuelled after several companies, including Walt Disney and DirecTV, reported earnings that surpassed analysts’ estimates. The Dow Jones Index advanced 1% to 15,118.5, while the Nasdaq Index put on 1.7% to 3,436.6.
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Cambridge Index gains 2.8%
14 May 2013
The Cambridge Index rose 2.8% or 445.6 points to 16,224.7, during the four day trading session, as nine of the top ten index heavyweights recorded gains.