DS Smith, up 2.6%, announced the launch of Shop.able Carriers, a new line of recyclable and reusable boxes designed to transport groceries.
Johnson Matthey, up 8.2%, announced that it has entered into a contract to sell its Medical Device Components business to Montagu Private Equity (Montagu) for a cash consideration of US$700m (£550m).
Kier Group, down 5.5%, announced that it has been selected as the preferred bidder by Cardiff Council for the construction of the new Ysgol Cynefin school in Wales, UK.
IQGeo Group, up 12.5%, in its final results, announced that revenues rose to £44.5m from £26.6m recorded in the previous year. Profit before tax stood at £0.06m compared to a loss of £1.8m.
Science Group, up 6.9%, in its audited results for the year ended 31 December 2023, announced that revenues climbed to £113.3m from £86.3m recorded in the previous year.
Cambridge Cognition, unchanged at 56.0p, announced that it has formed a Scientific Advisory Board, chaired by Liam Kaufman, and including three founding members, Professor Judith Jaeger, Professor John Harrison, and Francesca Cormack to provide scientific guidance and valuable market insights.
LPA Group, down 20.6%, in its trading statement, announced that it has received revised schedules for delivery to UK and EU end customers for three of its rail contracts currently in production.
Feedback, down 7.8%, announced that it has secured funding of £50,000 for a further Community Diagnostic Centre pathway pilot with the Oldham CDC, a part of the Northern Care Alliance, to focus on further demonstration of the impact of a pathway approach on CDC utilisation and wider patient wait times.
Netcall, down 1.0%, announced that it has secured a significant £7.6m five-year contract renewal with a leading transportation company, for Liberty cloud services.
Nexteq, down 0.7%, announced that its annual general meeting (AGM) would be held at 10.00 am on 16 April 2024 at the Company offices at The Galleria, Station Road, Crawley, RH10 1WW.
UK markets ended higher last week, after the Bank of England left the interest rate unchanged at 5.25% and signalled future rate cuts. On the data front, UK’s manufacturing PMI climbed more than expected in March, while the nation’s Rightmove house price index rose in March. Meanwhile, UK’s consumer price inflation rose at its slowest pace since 2021 in February, amid a slowdown in food prices, while the nation’s services sector unexpectedly fell in March. Additionally, UK’s retail sales remained flat in February, while the nation’s GfK consumer confidence remained steady in March. The Bank of England (BoE) kept its key interest rates unchanged at 5.25% for the fifth consecutive time and hinted at rate cuts this year. The FTSE 100 index advanced 2.6% to settle at 7,930.9, while the FTSE AIM 100 index rose 0.3% to close at 3,573. Also, the FTSE techMARK 100 index gained 0.7% to end at 6,934.8.
US markets ended higher in the previous week, as the US Federal Reserve indicated at least three rate cuts by the end of 2024. On the macro front, the US housing starts rebounded more than expected in February, while the nation’s building permits advanced in the same month. Additionally, the US existing home sales rose to a one-year high in February, while the nation’s NAHB housing market index rose to its highest level since July in March. Moreover, the US Philadelphia Fed manufacturing index unexpectedly rose in March, while the nation’s weekly jobless claims unexpectedly dropped in the week ended 15 March 2024. Separately, the US Federal Reserve (Fed) left its benchmark interest rate steady at 5.50%, as widely expected. However, the officials indicated that they still expect to cut interest rates by three-quarters of a percentage point this year. The DJIA index rose 2.0% to end at 39,475.9, while the NASDAQ index gained 2.9% to close at 16,428.8.
