Cambridge Index climbs 1.3%

The Cambridge Index gained 1.3% or 289.51 points to finish at 23,064.7 as Index heavyweights such as Johnson Matthey and DS Smith posted weekly gains to their share prices.

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Johnson Matthey, up 3.5%, was given a target price of 3380p from Barclays. DS Smith, up 1.4%, benefitted from a series of positive broker reviews. Peel Hunt initiated its “Hold” rating on Abcam, up 2.1%, with a target price of 750p. Kier Group, up 1.5%, announced that Group’s performance for the half year was in line with the management's expectations and full year results were expected to be second-half weighted and in line with the previous year.

Ubisense Group, up 33.3%, announced in its full trading update that it expects a positive net cash position for the year. The revenue growth for the year continued along with good margins, cost management and order book, as compared to the previous year.

Bango, up 19.2%, announced that it has launched Bango Boost version 2, which will enable the developers to increase sales through targeted marketing and expected to directly contribute in the End User Spend growth in 2017.

Cambridge Cognition Holdings, up 12.1%, announced that it has received 510(k) clearance for the marketing of its CANTAB Mobile product as a medical device, from the US Food and Drug Administration.

Scientific Digital Imaging, up 4.2%, announced that half year revenues rose to £4.9m from £3.7m as compared to last year. Profit before tax rose to £410k from £13k. Tristel, up 2.3%, announced positive results from the study conducted to compare its Trio Wipes System with a detergent and a peracetic acid disinfectant manufactured by Laboratoires Anios, Hellemmes, France.

Netcall, up 1.7%, announced that trading in first half of the year was in line with the management expectations. It witnessed strong order inflow majorly for multi-year, Software-as-a-Service contracts, which resulted in continued grow of the Group's order book and annualised recurring revenues.

Goldman Sachs Group Inc. lifted its target price on AVEVA Group, down 0.6%, to 1850p from 1560p, however reiterated its “Sell” rating. Horizon Discovery Group, down 1.1%, announced that it expects full year revenue to increase by at least 19% to £24m, with 50% increase in the gross margin. Based on its strong order book, the Group remained confident to deliver revenues in the range of £30m-£35m in 2017.

Xaar, down 1.7%, announced that it has appointed Lily Liu as the Chief Financial Officer, Company Secretary and Director to the Board. Panmure Gordon reissued its “Buy” rating on Vernalis, down 2.7%, with a target price of 65p. Quixant, down 3.5%, announced that it expects the trading for the year to remain in line with the expectations. Panmure Gordon restated its “Buy” rating on Sphere Medical Holding, down 8.3%, with a target price of 17p.

UK markets ended mostly weaker last week. This came despite data showing the nation’s preliminary GDP grew more than expected in the final quarter of 2016, even with the cloud of uncertainty since the nation voted to leave the European Union. The FTSE 100 index lost 0.2% to finish at 7,184.5, while the FTSE AIM 100 index added 1.1% to close at 4,206.8. The FTSE techMARK 100 index declined 1.6% to settle 4,217.5.

US markets finished higher for the week, driven by robust manufacturing and services PMIs figures for January and some upbeat earnings updates. However the nation’s weekly initial jobless claims climbed more than expected, while the US economy rose less than the forecast in the fourth quarter of 2016. The DJIA index rose 1.3% to settle at 20,093.8, while the NASDAQ index jumped 1.9% to end at 5,660.8.

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