Kier Group, up 0.8%, announced that it has been selected to construct a new health building for £40.7m on behalf of the University of Salford, with the project set to support the delivery of local health and wellbeing services.
Oracle Power, unchanged at 0.02p, announced that further to its announcement of 9 May 2023 regarding the binding heads of agreement (HOA) with ASX-listed Riversgold Limited, Riversgold has spent the minimum commitment required to exercise the exclusive option to acquire an 80% beneficial interest in the Northern Zone and will now carry Oracle up to formalising joint venture agreements by 31 December 2025. The company looks forward to Riversgold continuing to add value to the project with further drilling to upgrade the tenement status to a mining lease.
Cambridge Cognition, down 4.4%, announced that it had submitted a letter of intent to the US Food and Drug Administration (FDA) under the Drug Development Tool pathway, outlining its plan to develop and validate an objective and reliable measure of cognitive impairment associated with schizophrenia (CIAS). The FDA has indicated that CIAS improvement could serve as a co-primary outcome in schizophrenia clinical trials, alongside functional improvement.
Tristel, down 4.3%, today, in its interim results for the six months ended 31 December 2024, announced that revenue rose to £22.6m from £20.9m recorded in the same period of the previous year. Profit before tax widened to £3.7m from £3.4m. The board declared an interim dividend of 5.68p, which will be paid on 11 April 2025.
UK markets ended lower last week, as more-than-expected UK inflation data dented hopes of several interest rate cuts from the Bank of England (BoE) this year. On the data front, the UK manufacturing PMI unexpectedly fell in February. Meanwhile, the UK consumer price index rose to a 10-month high in January, amid higher airfares and food prices. Additionally, the UK services PMI unexpectedly advanced in February, while the nation’s retail sales climbed for the first time since August in January. Moreover, the UK unemployment rate remained unchanged in December, while the nation’s GfK consumer confidence index improved in February. The FTSE 100 index declined 0.8% to settle at 8,659.4, while the FTSE AIM 100 index fell 1.1% to close at 3,464.0. Additionally, the FTSE techMARK 100 index lost 1.1% to end at 6,477.6.
US markets ended lower in the previous week, following weaker-than-expected US consumer sentiment raised worries about a slowing US economy. On the macro front, the US services PMI unexpectedly dropped in February, while the nation’s Michigan consumer sentiment index deteriorated more than expected in January, amid concerns over tariffs. Moreover, the US existing home sales declined more than expected in January, as high mortgage rates and house prices weighed on demand, while the nation’s housing starts fell sharply in January. Also, the US weekly jobless claims advanced more than anticipated in the week ended 14 February 2025. Meanwhile, the US manufacturing PMI rose to an eight-month high in February, while the nation’s building permits unexpectedly rose in January. Separately, the FOMC meeting minutes indicated that the officials remain cautious about adjusting interest rates, highlighting the need for further progress on inflation before making any changes. The DJIA index fell 2.5% to end at 43,428.0, while the NASDAQ index lost 2.5% to close at 19,524.0.
