Cambridge Index eases 0.7%

The Cambridge Index fell 0.7% or 111.6 points to 15,585.7, in spite of gains in broader indices, as index bellwethers Johnson Matthey and DS Smith posted losses.

Credit Suisse downgraded the shares of Johnson Matthey, which fell 2.5% during the week, to “Neutral” from “Outperform”. Greene King, up 1.8%, revealed that four of its Executive Directors and PDMRs (Persons Discharging Managerial Responsibilities) have acquired shares in accordance with Greene King’s Deferred Share Bonus Scheme. The company was designated a “Buy” rating from Deutsche Bank.

ARM Holdings, up 0.1%, was assigned a “Sell” recommendation from Societe Generale and Liberum Capital. The company pared almost all of its weekly gains on Friday, ahead of its half-year results scheduled to be released this week. AVEVA Group, flat at 2,501.0p, was rated as “Overweight” by Morgan Stanley.

Cyan Holdings rallied 13.9% and emerged as the top gainer on the Cambridge Index. 1Spatial gained 13.8%, after announcing that its 1Spatial Management Suite V1.0 and Radius Studio V2.3 are recognised by Oracle. PDX, up 10.6%, acquired online social gaming & gambling businesses, Gaming Realms Limited, BeJig Limited and AlchemyBet Limited, in a deal worth about £12.1m.

Ubisense Group, up 9.2%, posted record orders worth about £17m, during the half-year ended 30 June 2013, and further revealed that it has won a contract worth above €1m from a large European automotive manufacturer for its Smart Factory System.

Brady, up 3.4%, appointed Bob Beveridge as Non-Executive Director and Chairman of audit committee. Netcall, up 1.6%, announced that it has performed well in the second half and anticipates its full year results to reflect a noteworthy gain in revenues while post adjusted EBITDA is expected to be in line with market expectations.

Sphere Medical Holding fell 11.7% and emerged as a top decliner on the Cambridge Index after raising about £8.5m through share placing. Sareum Holdings, down 5.0%, announced that it has selected a preclinical development candidate from its Aurora+FLT3 kinase programme. Amino Technologies, down 1.7%, noted that its underlying revenue for the six months period ended 31 May 2013 remained flat at £20.1m, while operating profit surged more than ten times to £2.61m from £0.20m.

In the UK, the FTSE 100 index rose 1.3% at 6,630.7 during the week, as investors’ sentiment were boosted following the release of better-than-expected domestic retail sales and jobless claims data. Meanwhile, the Bank of England’s 3-4 July meeting minutes revealed that policymakers voted unanimously in favour of maintaining the lending rate unchanged at 0.50% and keeping the bond-buying stimulus scheme unchanged at £375 billion. The FTSE techMARK 100 Index added 0.2% to 2,887.4, while the FTSE AIM 100 Index rose 0.1% to 3,328.9.


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