designer and manufacturer of computer vision-based measurement systems for industrial applications, for a net consideration of £6.1m.
CyanConnode Holdings, up 2.5%, announced that it has received a follow-on order with a value of more than $1m for cellular gateways in the Middle East and North Africa (MENA) region.
Sareum Holdings, up 2.0%, in its final results, reported nil revenue for the period. Loss before tax widened to £4.60m from £4.03m. Its cash as of 30 June 2024 stood at £1.5m (£1.0m as of 30 June 2023).
Feedback, down 21.2%, today, in its final results for the 12 months to 31 May 2024, announced that revenues climbed to £1.18m from £1.02m recorded in the previous year. Loss before tax widened to £3.60m from £3.37m. Its cash balance as of 31 May 2024 stood at £3.88m (31 May 2023: £7.32m).
Nexteq, down 17.5%, in its trading for the year ending 31 December 2024, announced that it has continued to see ongoing, cross-industry de-stocking, resulting in reduced order intake levels. In addition, while customer retention remains impressively high, we have seen certain customer product and project launches being delayed into Q1 2025, from Q4 2024, with customers opting to delay agreed new project expenditure into a new budget year. As a result, FY24 group revenue is expected to be 10-12% below previous market expectations.
Oracle Power, unchanged at 0.02p, announced that a ground-based gravity survey has been completed at the Blue Rock Valley Copper and Silver Project, located in the Ashburton Basin in the northwest region of Western Australia. The survey has identified multiple gravity highs along the Blue Rock Valley trend for potential drilling, to test for further potential copper mineralisation. The company is now assessing whether to undertake geochemical sampling or look to drill test targets and a further announcement will be made in due course.
UK markets ended mostly lower last week, as Britain’s budget raised concerns about inflation pressures again, dampening the expectations of rate cuts from the Bank of England. On the data front, the UK manufacturing sector contracted more than expected in October. Moreover, the UK Nationwide housing prices rose less than anticipated in October, while the nation’s BRC shop price index unexpectedly fell in October. Meanwhile, the UK mortgage approvals unexpectedly advanced in September. The FTSE 100 index declined 0.9% to settle at 8,177.2, while the FTSE techMARK 100 index lost 2.4% to end at 6,491.1. Meanwhile, the FTSE AIM 100 index rose 2.2% to close at 3,581.4.
US markets ended lower in the previous week, following a significant drop in the US job growth in October. On the macro front, the US annualised gross domestic product grew less than expected in 3Q24, while the nation’s ISM manufacturing PMI declined to a 15-month low in October. Moreover, the US nonfarm payrolls rose less than expected in October, while the nation’s JOLTS job openings dropped to more than a 3-1/2-year low in September. Also, the US unemployment rate remained steady in October. Meanwhile, the US ADP employment rose more than expected in October, while the nation’s weekly jobless claims unexpectedly fell to a 5-month low in the week ended 25 October 2024. Moreover, the US pending home sales climbed more than anticipated in September, while the nation’s consumer confidence index improved to a nine-month high in October. Also, the US personal income rose as expected in September, while the nation’s spending advanced more than anticipated in September. The DJIA index fell 0.1% to end at 42,052.2, while the NASDAQ index lost 1.5% to close at 18,239.9.
