Cambridge Index falls 1.5%

The Cambridge Index fell 1.5% or 250.5 points, to end at 16,449.5, following losses in four of the top five index heavyweight stocks.

Shares in ARM Holdings declined 2.7% during the week despite being assigned an “Outperform” rating by Credit Suisse. Bank of America Merrill Lynch retained the stock as “Buy”. DS Smith fell 3.2%, even as Citigroup reiterated its “Buy” recommendation on the stock.

Greene King, down 2.1%, had its “Buy” rating reiterated by Citigroup. Meanwhile, Johnson Matthey added 0.2%. The company was rated “Buy” by Deutsche Bank, Liberum Capital and Bank of America Merrill Lynch.

Brady advanced 4.9%, and emerged as the top gainer in the Cambridge Index. Cyan Holdings, up 2.4%, announced that its pre-tax losses narrowed to £1.3m, from a pre-tax loss of £1.64m, while also reporting a 73.3% drop in its revenue to £0.05m. The company also announced several management changes, with effect from 1 October 2013, in a bid to strengthen its operational management team.
Shares in CSR rose 1.5% during the week. The company is reporting its third-quarter results on 5 November 2013.

Bango fell 17.6% – the largest decrease this week in the Cambridge Index.  Shares of Vernalis inched down 1.7%. The company announced entering into a collaboration with Asahi Kasei Pharma that will utilise Vernalis’ fragment and structure-based drug discovery platform against an undisclosed target for rheumatoid arthritis and other autoimmune diseases.

In the UK, the FTSE 100 index fell 0.9%, to 6,453.9, as investors mulled the effects of a prolonged US government shutdown and a possible debt default. The FTSE techMARK 100 Index lost 1.7%, to 2,943.1, and the FTSE AIM 100 Index fell 1.8%, to 3,579.

US markets mostly fell during the week, as the ongoing US political gridlock over government spending, overshadowed an upbeat reading of ISM’s US manufacturing Purchasing Manager’s Index for September. The DJIA index fell 1.2%, to close at 15,072.6 and the NASDAQ index rose 0.7%, to settle at 3,807.8.

View the report in full


Looking for something specific?