AVEVA Group, up 1.2%, announced the appointment of Jennifer Allerton as a Non Executive Director. Further, Non Executive Director, Herve Couturier, stated that he did not wish to seek re-election and would step down from his position on 9 July 2013.
CSR, up 0.5%, launched its second generation Bluetooth Smart platform. Meanwhile, DS Smith fell 2.6% during the week. Davy Research reiterated its “Underperform” rating on the stock, while upgrading the price target to 248p from 245p.
1Spatial gained 10.7% during the week, and emerged as the top riser in the Cambridge Index. The company purchased an additional 14.86% of the issued share capital of Star-Apic to increase its holding in the company to 90%.
Bango, up 10.1%, announced that it expects first half 2013 end user spending (based on current trends) to be double that of the previous six months. The company also stated that it has increased direct operator connections from 100 in late March to over 110 today, in line with its targets.
Cyan Holdings fell 11.7%. The company’s full year revenue fell 30.4% to £0.32m from £0.46m, and pre-tax loss stood at £3.1m, narrower than the loss of £3.6m reported in 2012. Tristel, down 4.4%, noted that its Chief Executive Officer, Paul Swinney, has sold 200,000 shares in the company at 22.5p per share, reducing his shareholding to 893,742 shares.
Brady, down 3.1%, announced the successful commissioning of its ‘Brady Central Dispatch Solution’ by EirGrid and the appointment of Robert de Picciotto, as a Non-Executive Director.
In the UK, the FTSE 100 index slid 1.1% to 6,583.1, during the shortened trading week, pressured by losses in the shares of banking and mining firms. Losses were capped, however, as the British Chambers of Commerce expressed optimism for the growth of the UK. The FTSE techMARK 100 Index edged up 0.2% to 2,878.7, while the FTSE AIM 100 Index rose 0.6% to 3,349.5.
US markets fell, as the latest batch of domestic upbeat economic data sparked concerns that the Fed might scale back its bond-buying programme sooner-than-expected. Meanwhile, a government report confirmed that growth in the world’s largest economy failed to meet market estimates during the first quarter. The Dow Jones Index shed 1.2% to 15,115.6, while the Nasdaq Index eased 0.1% to 3,455.9.
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Cambridge Index falls 0.1%
4 June 2013
The Cambridge Index declined 0.1% or 21.9 points to 15,756.5, during a mixed four day trading session. After recent falls, ARM Holdings edged up 0.3% as JP Morgan Cazenove commented that the company’s inventory data looks supportive of a continuing up-cycle for the sector.