DS Smith, up 1.3%, announced that it has appointed Eric Olsen as a Non-Executive Director, with effect from 15 May 2023.
Johnson Matthey, down 2.7%, announced that it has signed a three-year strategic supply contract with Hystar, a Norwegian high-tech hydrogen company to increase renewable (green) hydrogen production. Under the contract, the company would supply MEAs for the Hystar PEM electrolysers to be used in the HyPilot project in Norway.
Kier Group PLC, up 6.4%, announced that it has received a contract to build the new Carew Academy, a special educational needs and disability (SEND) school for pupils in the London Borough of Sutton.
Dialight, up 0.4%, in its AGM trading update, announced that it witnessed lower demand for larger capex orders during the period. Also, its Signals & Components revenue came in lower than 2022, driven by destocking in the channel. The company would release its results for the six months ending 30 June 2023 on 31 July 2023.
Aferian, down 46.6%, in its annual results, announced that revenues fell to $91.13m from $92.89m recorded in the previous year. Loss before tax stood at $16.91m compared to a profit of $4.78m. The Board is not proposing a final dividend (2021: 2.09p/2.87 US cents).
Oracle Power, down 14.3%, announced that it has inked a memorandum of understanding (MOU) for the off-take and development of its 1.32 GW Thar coal fired power plant in the Sindh Province, Pakistan, with the following consortium parties (together, the Parties): Energy Department, Government of Sindh, Thar Electricity (Private) Limited, K-Electric Limited, and PowerChina International Group Limited.
Sareum Holdings, down 2.0%, announced the launch of a Phase 1a clinical trial for its lead product SDC-1801 to investigate the safety and pharmacokinetics of an oral formulation of SDC-1801. The trial has started with patient recruitment in progress at specialist clinical units located in Victoria, Australia.
Checkit, down 1.9%, announced that its AGM would be held at 12:00 (noon) on 8 June 2023 at Fieldfisher LLP, Riverbank House, 2 Swan Lane, London EC4R 3TT.
Science Group, down 1.5%, in its AGM trading update, announced that trading has been in line with the Board's expectations, indicating growth in services divisions. Cash balance stood at £33.4m as on 30 April 2023.
UK markets ended mostly higher last week, amid improved investor sentiment. On the macro front, Britain’s GfK consumer confidence index climbed to a 15-month high in May, amid optimism over economic outlook. Meanwhile, UK’s unemployment rate unexpectedly advanced in March, while the nation’s average earnings rose less than expected in March. The FTSE 100 index marginally rose to settle at 7,756.9, while the FTSE techMARK 100 index gained 1.5% to end at 6,986.1. Meanwhile, the FTSE AIM 100 index fell 0.8% to close at 3,864.4.
US markets ended higher in the previous week, amid optimism surrounding US debt ceiling talks. On the macro front, the US housing starts rose more than expected in April, amid signs of gradual recovery in the real estate sector, while the housing market index advanced in May. Moreover, the US initial jobless claims dropped more than expected in the week ended 12 May 2023, indicating tightness in the labour market. Meanwhile, the US building permits declined in April, while the nation’s existing home sales fell for a second straight month in April. Additionally, the US retail sales rose less than expected in April. The DJIA index rose 0.4% to end at 33,426.6, while the NASDAQ index gained 3.0% to close at 12,657.9.
