Cambridge Index falls 2.0%

The Cambridge Index fell 2% or 336 points, to end at 16,844.3, as seven of the top ten index heavyweights saw their share price fall.

Shares of ARM Holdings declined 4.2% after the company’s revenue grew less than expected. The company, in its fourth quarter results, announced that its revenues increased 15% to £189.1m and pre-tax profit climbed 19% to £95.5m. On the outlook front, the company commented that its Group dollar revenues for the full year 2014 are likely to be in line with market expectations. Meanwhile, various brokers retained their earlier rating on the shares.

Deutsche Bank retained its “Buy” rating on Johnson Matthey, down 1.6%, and also kept its target price unchanged at 2,700p. However, Citigroup downgraded the stock to “Neutral” and reduced the target price to 2450p from 2650p.

Cyan Holdings’ share price surged 23.5%, attributed to large volumes of trades. DS Smith, up 4%, found favour with brokers. Oriel Securities and Investec reiterated their “Buy” rating and kept the target prices unchanged at 270p and 245p respectively. Shares of Greene King edged up 1.7%. The company announced that it would release its pre close trading update on 30 April 2014. The company’s share price target was raised by Nomura and Barclays.

Brokers Natixis and Numis Securities kept their stance unchanged on CSR, up 2.6%. Sepura, up 2%, expressed confidence that it was on track to meet its full year expectations.

Ubisense Group, up 0.8%, announced that its ‘Smart Factory System for automatic tool control’ was selected by a large European automotive manufacturer and a large Asian automotive manufacturer. Separately, the company announced the appointment of Robert Parker as CFO. Canaccord Genuity reaffirmed its “Buy” rating with a target price of 280p.

1Spatial fell 9.1%. Liberum Capital reaffirmed their “Buy” rating on the shares of Kier Group, down 0.3%. Abcam, down 3.8%, announced that its interim results for the six months ended 31 December 2013 would be released on 4 March 2014.

Domino Printing Sciences, down 1.6%, notified that Managing Director Nigel Bond sold his 9,789 shares at a price of 793.4p per share. Blinkx fell 4.3%, extending its fall in the previous week, which was triggered amid allegations that the company used software to inflate traffic counts and capture commissions.

Bango, down 3.3%, revealed its latest product, ‘Bango Dashboard’, providing Mobile Network Operators with a three dimensional view of their subscribers' digital content purchases, across the world's largest app stores.

In the UK, the FTSE 100 index rose 0.9%, to 6,571.7, after the Bank of England kept its interest rates at a record low level while also refraining from trimming the size of its asset purchases. The FTSE techMARK 100 Index edged up 0.3% to 3,188.5, and the FTSE AIM 100 Index slid 0.1%, to 3,889.9.

US markets rose last week, amid better-than-forecast corporate earnings and as the country’s unemployment rate surprisingly dropped to the lowest level in more than five years. The DJIA index rose 0.6%, to close at 15,794.1. The NASDAQ index gained 0.5%, to settle at 4,125.9.


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