Cambridge Index climbs 2.3%

The Cambridge Index rose 2.3% or 400.3 points to 17,474.7, as eight of the top ten index heavyweights’ share prices posted weekly gains.

 

ARM Holdings, up 3.7%, announced that it has launched a new processor blueprint with improved computing performance and improved graphics for smartphones and tablets, for delivery to customers in 2016. Liberum Capital reissued its “Sell” rating on the stock with a price target of 700p.

Berenberg Bank reaffirmed its “Buy” rating on Johnson Matthey, up 0.9%, with a target price of 3650p. Liberum Capital maintained its “Hold” rating on the stock with a target price of 3400p. Canaccord Genuity reiterated its “Buy” rating on DS Smith, down 1%, with a price target of 370p.

Canaccord Genuity maintained its “Buy” rating on Greene King, up 2.6%, with a target price of 800p. Goodbody Stockbrokers reissued its “Buy” rating on the shares with a target price of 845p. The German Federal Cartel Office has sanctioned the acquisition of CSR, down 0.3%, by Qualcomm Global Trading Pte. Ltd., an indirect wholly owned subsidiary of Qualcomm Inc.

Liberum Capital maintained its “Hold” rating on Aveva Group, up 11.4%, with a target price of 1400p. Liberum Capital maintained its “Buy” recommendation on Kier Group, up 3.6%.

Amino Technologies, up 2.4%, reported a slight increase in its full year revenue to £36.2m from £35.9m, while profit after tax stood at £4m from £4.2m reported in last year. The company offered a buoyant outlook, with expectation of continued revenue growth.

Investec restated its “Buy” rating on Abcam, up 1.9%, with a target price of 480p. Canaccord Genuity reiterated its “Buy” rating on Vernalis, with a target price of 66p.

In a short trading update, Bango, down 2.3%, announced that it continues to deliver on its strategy to become the industry standard platform for mobile payments charged to the consumer’s phone bill. It also stated that it activated more payment routes for app stores and processed more end user spend during the period.

1Spatial, down 2.4%, announced that its Chairman, Steve Berry, has decided to retire from the Board with effect from 2 February 2015. N+1 Singer has reiterated its “Corporate” rating on the stock.

Horizon Discovery Group, down 3.1%, announced that it has been selected to act as a core facility by the Tri-Institutional Therapeutics Discovery Institute.

Cyan Holdings, down 3.4%, announced that it has won the Innovation of the Year Award 2015 at the 6th annual Smart Energy UK & Europe Awards for its CyLec® smart metering solution.

Dialight, down 6.7%, stated that its Chief Executive Officer, Roy Burton, would step down on 2 March 2015 for health reasons. Canaccord Genuity has maintained its “Buy” rating on the stock with a price target of 880p.
 
UK markets ended higher last week, as investor sentiment in global growth received a boost from the rebound in crude oil prices. The FTSE 100 index advanced 1.5% to 6,853.4, while the FTSE AIM 100 Index gained 2.1% to finish at 3,092.4. The FTSE techMARK 100 Index edged 2% higher to 3,672.7.

US markets finished the week on a firmer footing, on the back of upbeat labour market data and amid a rally in crude oil prices. The DJIA index rose 3.8% to 17,824.3, while the NASDAQ Index climbed 2.4% to 4,744.4.


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