DS Smith, up 10.0%, in its trading update, announced that overall performance for the current full financial year is expected to be ahead of its previous expectations.
Abcam, down 3.6%, today, announced that it intends to cancel the admission of its ordinary shares of nominal value 0.02p each to trading on AIM, with effect from 14 December 2022. However, the company will retain the listing on the Nasdaq Global Select Market under ticker symbol ‘ABCM’.
Darktrace, up 0.1%, in its first quarter FY 2023 trading update, announced that revenue for the period rose 37% to $126.3m over the same quarter of FY 2022.
Quixant, up 6.4%, in its trading update for the current financial year ending 31 December 2022, announced that both Gaming and Densitron segments have continued to perform well. The company forecasts its full year results to be ahead of market expectations with revenues in excess of $115m and adjusted profit before tax of atleast $10m.
Cambridge Cognition Holdings, up 2.3%, announced that it has signed a deal to acquire the entire issued share capital of eClinicalHealth for up to approximately £1.7m.
Sareum Holdings, down 37.2%, announced that it has been informed by Sierra Oncology, a subsidiary of GSK that it intends to return the rights for SRA737 to the CRT Pioneer Fund (CPF) LP.
Xaar, down 10.2%, announced that it has appointed Sue LaVerne as Chief People Officer and Karl Forbes as group R&D Director. Frontier Developments, down 8.1%, announced that its Annual General Meeting will be held at 9.30am on Tuesday 8 November 2022 at The Trinity Centre, 24 Cambridge Science Park, Milton Road, Cambridge, CB4 0FN.
Aferian, down 0.8%, today, announced that the remaining contingent consideration in relation to the 24i Unit Media A/S take over acquisition in May 2021 has become payable. The company would pay a final amount of €117,000 of which €26,910 will be paid in cash. The remaining €90,090 would be settled through the issue of 52,769 new ordinary shares of 1.0p each.
UK markets closed lower last week, amid economic growth concerns, political tensions and turmoil in UK gilt market. On the macro front, UK’s economy shrank for the second time in three months in August, amid slowdown in manufacturing and service work in North Sea oil and gas fields while the nation’s RICS housing prices rose at its slowest pace since in July 2020 in September, amid surge in mortgage rates. Additionally, UK’s manufacturing production unexpectedly fell in August while the nation’s industrial production declined more than expected in the same month. Meanwhile, UK’s average earnings including bonus advanced more than expected in August, while the nation’s ILO unemployment rate fell to a 48-year low in August, as people dropped out of the workforce. The FTSE 100 index declined 1.9% to settle at 6,858.8, while the FTSE AIM 100 index fell 4.2% to close at 3,686.2. Meanwhile, the FTSE techMARK 100 index lost 2.5% to end at 5,779.1.
US markets ended mixed in the previous week, amid fears over recession and interest rate hikes. On the data front, the US initial jobless claims rose more than expected in the week ended 7 October 2022, while the US retail sales recorded a flat rating in September, amid lower demand. Meanwhile, the US inflation advanced more than anticipated in September, raising expectations that the Federal Reserve may hike interest rates further, while the nation’s producer price index climbed more than expected in the same month. Additionally, the US Michigan consumer sentiment index advanced more than anticipated in October, reaching its highest level in six months. Separately, the FOMC minutes reiterated that rate hikes are likely to continue, and higher rates will prevail until prices come down. The DJIA index rose 1.2% to end at 29,634.8, while the NASDAQ index lost 3.1% to close at 10,321.4.
