Cambridge Index plummets 7.3%

The Cambridge Index declined 1949.9 points or 7.3% to close at 24776.6, as most of the Index heavyweights posted weekly losses to their share prices.

Deutsche Bank restated its “Buy” rating on Johnson Matthey, down 7.9%.

Peel Hunt reconfirmed its “Buy” rating on DS Smith, down 11.7%.

Greene King, up 4%, announced that it has appointed Peel Hunt LLP and Citigroup Global Capital Markets Limited as their joint corporate brokers with immediate effect.

Brady, down 1.5%, announced in its interim results that revenue slightly fell to £10.5m from the £10.7m reported over the same period in the previous year. Its loss before tax narrowed to £2.3m from £3.7m, while its basic loss per share dropped to 2.77p from 4.25p in the preceding year. Meanwhile, the company stated that it anticipates full-year results to be in line with market estimates.

Kier Group, down 1.9%, announced that it will hold its Annual General Meeting on 16 November 2018. Liberum Capital reiterated its “Buy” rating on the stock.

Marshall Motor Holdings, down 6%, announced in its trading update that strong operational disciplines and benefits of the decisive action have helped them to overcome the loss from decline in the new vehicle market and as a result it kept its full-year outlook unchanged. The company stated that its final results for the year ending 31 December 2018 will be published on 13 March 2019.

Berenberg Bank lowered its target price on Dialight, down 7%, to 380p from 420p and gave a “Sell” rating.

Tristel, down 9.5%, announced that it will publish its preliminary results for the year ended 30 June 2018 on 17 October 2018.

Bango, down 22.7%, announced that it has appointed Carolyn Rand as an interim Chief Financial Officer (CFO) on a full-time basis till April 2019 unless a permanent CFO is selected.

Amino Technologies, down 40%, announced in its trading update that it anticipates full-year adjusted profit before tax to be broadly near its previous year’s level at around $11.5m, weighed down by intensifying external macroeconomic headwinds. As a result, order book is expected to be lower than previously anticipated and the component prices to rise in the near term. Further, the company reiterated that it would raise its annual dividend by minimum 10%. Liberum Capital lowered its target price on the stock to 250p from 265p and gave a “Buy” rating.

UK markets ended significantly lower in the prior week, amid losses in commodity and financial sector stocks. The UK’s total trade deficit widened more than expected in August, while the British industrial and manufacturing production rose more than expected in the same month. The UK’s gross domestic product remained flat in August, while the nation’s retailers recorded their weakest sales in five months in September. The FTSE 100 index declined 4.4% to settle at 6995.91, while the FTSE AIM 100 index dropped 7.7% to close at 5223.01. Meanwhile, the FTSE techMARK 100 index slumped 4.9% to end at 4369.99.

US markets closed sharply lower in the previous week, weighed down by losses in technology and banking sector stocks. The US consumer sentiment index surprisingly dipped in October, while the nation’s initial jobless claims unexpectedly climbed in the week ended 06 October 2018. The US small business optimism index slid more than expected in September, while the nation’s consumer price index advanced less than anticipated in the same month. The DJIA index fell 4.2% to end at 25339.99, while the NASDAQ index dropped 3.7% to close at 7496.89.

View the report in full

Looking for something specific?