DS Smith, up 16.5%, announced that the waiting period under the Hart-Scott-Rodino Act (the HSR Act) has expired for the proposed combination of the company with International Paper. Completion of the combination remains subject to the satisfaction or waiver of the remaining Conditions, including regulatory clearance being received from the European Commission and the sanctioning of the scheme by the court. International Paper and DS Smith still expect the scheme to become effective in the fourth quarter of 2024.
Johnson Matthey, down 0.1%, today, announced that Stephen Oxley, Chief Financial Officer has decided to resign from the company in 2025 to pursue another opportunity.
Sareum Holdings, up 17.1%, today, announced that it has received positive topline data from its Phase 1a clinical trial of SDC-1801, a dual TYK2/JAK1 kinase inhibitor being developed as a potential new therapeutic for a range of autoimmune diseases.
Oracle Power, up 10%, in its final results, announced that loss before tax narrowed to £0.79 million from £1.29 million recorded in the previous year. Its cash and cash equivalents stood at £0.19 million.
Checkit, up 4.3%, confirmed that it does not intend to make an offer for tech firm Crimson Tide. Accordingly, except with the consent of the Takeover Panel, Checkit, and any person acting in concert with Checkit, are bound by the restrictions under Rule 2.8 of the Code.
Bango, up 2.8%, announced that it has entered into a strategic partnership with Uber to expand the Uber One membership program globally.
Cambridge Cognition, down 6.1%, announced that its nominated adviser and joint broker has changed its name to Panmure Liberum Limited following the completion of its corporate merger.
CyanConnode Holdings, down 4.2%, announced that its subsidiary, DigiSmart Networks Private Limited (DigiSmart) has been certified to deploy Cellular technology as an Advanced Metering Infrastructure Service Provider (AMISP).
Feedback, down 2.0%, announced that it has secured a contract by Queen Victoria Hospital NHS Foundation Trust (QVH) to provide its Bleepa Community Diagnostics Centre (CDC) solution.
1Spatial, down 1.4%, today, announced that it has changed its nominated adviser and broker to Panmure Liberum Limited with immediate effect.
UK markets ended lower last week, as stronger-than-expected GDP data dented hopes for interest rate cuts by the Bank of England. On the data front, UK’s current account deficit narrowed less than expected in 1Q24. Meanwhile, UK’s gross domestic product grew more than anticipated in 1Q24, amid a rise in consumer spending and services. The FTSE 100 index declined 0.9% to settle at 8,164.1, while the FTSE AIM 100 index fell 1.3% to close at 3,678.0. Additionally, the FTSE techMARK 100 index lost 2.1% to end at 6,844.9.
US markets ended mixed in the previous week. On the macro front, the US annualised gross domestic product grew as expected in 1Q24, while the nation’s durable goods orders unexpectedly rose in May. Moreover, the US personal income advanced more than expected in May, while the nation’s weekly jobless claims dropped more than anticipated in the week ended 21 June 2024. Additionally, the US CB consumer confidence fell less than expected in June, while the nation’s Michigan consumer sentiment index dropped less than expected in June. Also, the US Chicago PMI climbed more than expected in June. Meanwhile, the US new home sales declined in May, while the nation’s pending home sales unexpectedly fell in May. Additionally, the US personal spending rose less than expected in May. The DJIA index fell 0.1% to end at 39,118.9, while the NASDAQ index gained 0.2% to close at 17,732.6.
