Cambridge Index almost flat

The Cambridge Index was almost unchanged at 16,876.6, as gains in index heavyweight, Johnson Matthey, were offset by modest losses in other index heavyweights such as ARM Holdings, DS Smith, Greene King and AVEVA Group.

Shares in Johnson Matthey rose 1.3%. The company had its “Hold” rating reiterated by Numis, while Deutsche Bank advised investors to buy the stock with a price target of 3,050p. Meanwhile, ARM Holdings fell 0.7%. The company unveiled an online platform for its connected community program to expand their commitment with industry experts. Deutsche Bank rated the stock as “Buy”, while RBC Capital Markets retained its rating on the stock as “Outperform” and increased the target price to 1,080p.

AVEVA Group fell 0.2%. Numis initiated coverage on the stock with an “Add” rating and a target price of 2,980p. DS Smith, down 0.2%, announced that its half-year trading for the period ending 31 October 2013 was in line with its expectations.

Blinkx advanced 10.3% after announcing a streaming partnership deal with EpicTV.com. The company also noted that it would release its six months interim results on 5 November 2013. Frontier Developments, up 0.4%, announced signing two new agreements with Atari Interactive.

Sareum Holdings lost 12.5%, due to the placing of, 278.5 million new ordinary shares at 0.6p per share, to provide funds to facilitate the development of its drug discovery and development programmes.  This raised £1.67 million. Ubisense Group was down 4.3%, despite announcing that it was selected by two of North America’s largest utilities to provide system administration, application maintenance and application development support for their real time systems.

Netcall, down 0.6%, noted that its Chief Executive Officer, Henrik Bang, has exercised options over 3 million ordinary shares at an exercise price of 5p per share. He subsequently sold 2 million ordinary shares at 40p per share.

In the UK, the FTSE 100 index rose 0.2%, to 6,734.7, as investor optimism was buoyed, following better-than-expected UK earnings updates. The FTSE techMARK 100 Index fell 0.5%, to 3,019, while the FTSE AIM 100 Index rose 1.2%, to 3,679.9.

US markets rose during the week, after the US Federal Reserve kept its monetary policy unchanged. However, gains were kept in check as investors perceived Fed statement as less dovish, adding to speculation that the US central bank might reduce its monthly bond purchases sooner-than-expected. The DJIA index rose 0.3%, to close at 15,615.6, while the NASDAQ index fell 0.5%, to settle at 3,922.


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