Cambridge Index climbs 1%

The Cambridge index rose 1% or 227.8 points to settle at 23,160.4, as index heavyweights such as ARM Holdings, Johnson Matthey and DS Smith recorded weekly gains to their share prices.

 

Bango, up 7.9%, announced that it has signed a Memorandum of Understanding (MoU) with South Korean mobile commerce company Danal Korea Inc. It aims to strengthen its global payments footprint and share technical and market information which is beneficial to both the parties. The company will provide additional payment routes for its leading global app store partners via integration of Danal's Asia payment network with the Bango Payment Platform.

Quixant, which remained unchanged at 235p, announced that it will release its interim results for the six months ended 30 June 2016 on 14 September 2016.

Ubisense Group, which remained flat at 28.5p, announced that it has appointed Tim Gingell as the Chief Financial Officer, with effect from 9 August 2016. Earlier, he has worked as Ubisense’s Interim Chief Financial Officer and Company Secretary.

UK markets ended higher in the previous week, lifted by a rally in crude oil prices. The NIESR’s GDP estimate showed that the economy expanded at a slower than expected rate in the three months to July. As well as this, manufacturing production in Britain declined more than expected in June. The FTSE 100 index rose 1.8% to 6,916, while the FTSE AIM 100 index advanced 2.1% to close at 3,759.8. The FTSE techMARK 100 index edged 0.9% higher to 4,396.6.

US markets closed higher in the prior week, led by gains in the energy sector stocks. Advance retail sales remained unchanged in July while the Reuters/Michigan consumer sentiment index rose less than anticipated in August. The DJIA index and NASDAQ both gained 0.2% to finish at 18,576.5 and 5,232.9 respectively.

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