Darktrace, down 0.4%, announced that pursuant to the announcement on 26 April 2024 and 18 June 2024, all the conditions relating to the regulatory and antitrust approvals have now been satisfied. Accordingly, it is now expected that the scheme will become effective on 1 October 2024.
Netcall, up 3.4%, announced that it had acquired a provider of intelligent document processing software, Smart & Easy NV (trading as Parble). The total consideration for the acquisition is around €8.7m, comprising an initial cash consideration of €4.7m and an earnout of up to €4m.
IQGeo Group, up 0.4%, announced that according to the announcement on 14 May 2024, 28 June 2024, and 31 July 2024, the scheme was sanctioned by the court at a hearing held earlier. The scheme is expected to become effective on 23 September 2024. Also, subject to the scheme becoming effective, the admission to trading of IQGeo shares on AIM will be cancelled and IQGeo shares will cease to be admitted to trading on AIM at 7.00 a.m. on 24 September 2024.
Oracle Power, unchanged at 0.02p, in its interim results, announced that loss before tax narrowed to £0.26m from £0.61m recorded in the same period of the previous year. Its cash and cash equivalents stood at £0.53m as of 30 June 2024.
1Spatial, down 6.3%, announced that it has renewed and expanded a multi-year contract with the National Public Authority in France for an amount of €1.5m.
Xaar, down 6.2%, in its interim results, announced that revenues declined to £28.64m from £34.52m recorded in the same period of the previous year.
Feedback, down 4.2%, announced that it has signed a partnership contract with a provider of primary care solutions to explore the new Neighborhood Diagnostics Solution.
Sareum, down 3.8%, announced that it has received a notice of allowance from the China National Intellectual Property Administration. This notice pertains to a patent application protecting certain crystalline forms of SDC-1801, a dual TYK2/JAK1 kinase inhibitor being developed as a potential new therapeutic for a wide range of autoimmune diseases.
UK markets ended mostly lower last week, amid the rise in the British Pound. On the data front, UK’s GfK consumer confidence index fell to a 6-month low in September, while the nation’s public sector net borrowing deficit widened more than expected in August. Meanwhile, UK’s consumer price index rose as expected in August, while the nation’s retail sales advanced more than anticipated in August. Separately, the BoE kept its key interest rate unchanged at 5.0% and extended the £100b bond reduction plan for another year. However, the central bank indicated that it might reduce borrowing costs again as soon as its next meeting in November. The FTSE 100 index declined 0.5% to settle at 8,230.0, while the FTSE techMARK 100 index lost 2.9% to end at 6,671.1. Meanwhile, the FTSE AIM 100 index rose 0.4% to close at 3,599.1
US markets ended higher in the previous week, as the US Federal Reserve (Fed) cut its key interest rate to 5.0% for the first time in four years. On the macro front, the US retail sales unexpectedly rose in August, while the nation’s industrial production advanced more than expected in August. Moreover, the US building permits climbed to a 5-month high in August, while the nation’s housing starts rose in August. Also, the US weekly jobless claims fell to a 4-month low in the week ended 13 September 2024. Meanwhile, the US existing home sales declined to ten-month low in August, while the nation’s current account deficit widened more than expected in 2Q24. Separately, the US Fed reduced its benchmark interest rates by 50 basis points to 5.0% for the first time in four years and indicated more rate cuts in the near future. The DJIA index rose 1.6% to end at 42,063.4, while the NASDAQ index gained 1.5% to close at 17,948.3.
