Johnson Matthey, up 0.8%, announced that it was in discussions with the investment arm of China's Sinopec for exploring a collaboration in decarbonisation technologies in China.
CyanConnode, up 7.3%, announced that it has secured an order worth $2.5m for Cellular Gateways to provide smart communications for an Advanced Metering Infrastructure project located in the Middle East and North Africa region.
Oracle Power, up 5.0%, announced that it has received a Letter of Intent (LOI) from the Directorate of Alternative Energy of the Government of Sindh regarding the establishment of a 1,200MW hybrid solar/wind, green hydrogen/power project in Pakistan, being advanced by the company's joint venture company, Oracle Energy Limited, subject to the provision of a $600,000 performance guarantee by Oracle Energy.
Aferian, up 1.1%, announced that Bruce Powell MBE has been appointed to the board as a Non-Executive Director and chair of the Audit Committee. Additionally, Steve Oetegenn has been appointed as an Executive Director of the company as President of the Americas.
Bango, down 5.7%, in its trading update for the six months ended 30 June 2022, announced that revenues increased to $10.8m (1H21: $9.9m), despite strong currency headwinds. 1H22 adjusted EBITDA stood at $2.6m (1H21: $2.8m).
Cambridge Cognition, down 4.7%, announced that CFO, Stephen Symonds, has been appointed as an Executive Director, with immediate effect.
SDI Group, down 3.3%, announced that it has purchased LTE Scientific Limited for a total consideration of around £4.2m.
Dialight, down 1.6%, in its six months ended 30 June 2022, announced that revenues climbed to £80.8m from £60.2m recorded in the same period previous year. The Board is not declaring an interim dividend payment for 2022.
Kier Group, down 0.7%, announced that it has entered into a new partnership with Weston College which aims to show how the construction industry is open to all, with a wide range of routes to entry and fascinating roles available.
UK markets ended mostly lower last week, after the Bank of England (BoE) warned that Britain will enter into recession this year. On the data front, UK’s manufacturing PMI declined to a 25-month low in July, amid fall in new orders and exports, while the services PMI fell to a 17-month low in the same month. Additionally, the nation’s house prices advanced at its slowest pace in July, while the Halifax house price index dropped for the first time in a year in July, due to high interest and mortgage rates. Moreover, Britain’s construction PMI fell by the most in over two years in July, amid recession fears. Separately, the BoE raised its key interest rate by 50 basis points to 1.75%, registering its biggest rate hike in 27 years. Meanwhile, the central bank cautioned that inflation could surpass 13% in October. The FTSE techMARK 100 index lost 0.5% to end at 6,032.9, while the FTSE AIM 100 index fell 0.3% to close at 4,460.8. Meanwhile, the FTSE 100 index advanced 0.2% to settle at 7,439.7.
US markets ended mixed in the previous week. On the macro front, the US construction spending fell in June, recording its first decline since September 2021, amid drop in residential construction. Additionally, the JOLTS job openings fell to a 9-month low in June, while the US initial jobless claims advanced in the week ended 29 July. On the other hand, the US non-farm payrolls climbed more than expected in July, while the nation’s unemployment rate declined in the same month, reaching its lowest level in 50 years, easing fears over recession. Moreover, the US factory orders climbed in June, suggesting underlying strength in manufacturing sector, while the US trade deficit narrowed more than expected in June, as exports surged to a record high. The DJIA index fell 0.1% to end at 32,803.5, while the NASDAQ index gained 2.2% to close at 12,657.6.
