Cambridge Index declines 3.8%

The Cambridge Index dropped 852.92 points or 3.8% to close at 21,375.2 as seven out of the top ten index heavyweights posted weekly losses in their share price.

Kirly group index

Kier Group, down 14.5%, in its interim results, announced that group revenues rose to £1.97b from £1.86b recorded in the same period of the previous year. Profit before tax widened to £28.6m from £27.0m. The directors have declared an interim dividend for the year ending 30 June 2025 of 2.00p per share (31 December 2023: interim 1.67p; 30 June 2024: final 3.48p). The dividend will be paid on 02 June 2025.

LPA Group, unchanged at 56.5p, today, announced that further to its announcement on 22 January 2025, it has now completed the acquisition of the UK trade and assets of a power supply provider from Eaton Electrical Products Limited. 

Nexteq, unchanged at 68.0p, announced that it expects to release its full year results for the 12 months ended 31 December 2024 on 19 March 2025.

Sareum Holdings, down 16.9%, announced that it has purchased the licence for SRA737 following the programme's return from a US-based biopharma company. SRA737 is a clinical-stage oral, selective Checkpoint kinase 1 inhibitor that targets cancer cell replication and DNA damage repair mechanisms. Separately, the company announced that it has conditionally raised gross proceeds of £1.07m through a subscription for 8,560,000 new ordinary shares of 1.25p each in the capital of the company with an institution for 12.5p per new ordinary share. The net proceeds from the subscription will be used to support the development of the expanded portfolio and for general working capital purposes. The company has applied for 8,560,000 subscription shares to be admitted to trading on AIM by 8.00 am on or around 18 March 2025.

Checkit, down 7.0%, announced that further to the announcement on 11 February 2025, Crimson Tide scheme shareholders are reminded that the court meeting and the general meeting in connection with the scheme will be held on 19 March 2025.

UK markets ended lower last week, following disappointing Britain’s GDP data. On the data front, the UK gross domestic product unexpectedly fell in January. Additionally, the UK industrial production dropped more than expected in January, while the nation’s manufacturing production declined in January. Moreover, the UK RICS housing price balance index rose less than expected in February, while the nation’s BRC like-for-like retail sales advanced less than expected in February. The FTSE 100 index declined 0.5% to settle at 8,632.3, while the FTSE AIM 100 index fell 1.0% to close at 3,316.6. Additionally, the FTSE techMARK 100 index lost 0.3% to end at 6,796.1.

US markets ended lower in the previous week, amid concerns over the escalating tariff war. On the macro front, the US consumer price index rose less than anticipated in February, while the nation’s producer price index advanced less than expected in February. Moreover, the US weekly jobless claims unexpectedly advanced in the week ended 07 March 2025, while the nation’s Michigan consumer sentiment index declined to the lowest level in over two years in March. Meanwhile, the US JOLTS job openings climbed more than expected in January. The DJIA index fell 3.1% to end at 41,488.2, while the NASDAQ index lost 2.4% to close at 17,754.1.



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