Cambridge Index

Cambridge Index rises 0.2%

The Cambridge Index rose 0.2% or 28.34 points to 15,219.9, as losses in ARM Holdings, Greene King and CSR were offset by gains in Johnson Matthey and DS Smith. Numis Securities reaffirmed its “Buy” rating on ARM Holdings, down 0.4%, while Liberum Capital restated its “Sell” rating. Numis Securities reiterated its “Buy” rating on Johnson Matthey, up 1.5%, with a price target of 3,642p. DS Smith, up 5.1%, announced the acquisition of Spanish corrugated board producer, Andopack, for £35m and mentioned that it expects the acquisition to deliver a return on capital above the cost in its second year of ownership. In addition, the company also said that its performance in the six months ended October was in line with expectations and its outlook was positive, despite problems in many of its markets. JPMorgan Chase reissued its “Overweight” rating with a price target of 368p. Citigroup also reiterated its “Buy” rating with a price target of 350p. Meanwhile, Goodbody Stockbrokers restated its “Hold” rating. Spirit Pub Company has agreed to a £774m takeover offer from Greene King, down 1.9%, valuing the company at 115p per share, from the original offer of 100p per share.
Northland Capital Partners reaffirmed its “Buy” rating on Amino Technologies, up 8%, with a target price of 100p. 1Spatial, up 1.8%, disclosed that it has been working with the No 1 Aeronautical Information Documents Unit on a chart database critical to mission and flight planning around the globe. Frontier Developments, up 0.9%, announced that the Beta phase of its development of ‘Elite: Dangerous’ will come to an end on 22 November 2014, when the worldwide Premiere event will happen at the Imperial War Museum, Duxford. Abcam, unchanged at 399.8p, said that trading in FY 2014/15 has started well; adding that it was well positioned to deliver continued growth and meet its financial and strategic objectives for the year. Mike Redmond and Peter Keen both retired from the Board at the conclusion of the AGM. Numis Securities reissued its “Buy” rating with a price target of 520p. FinnCap reiterated its “Hold” rating with a price target of 400p.
Horizon Discovery Group, down 0.6%, has appointed Dr David Smoller, Chief Business Officer of Horizon, as an Executive Director, with immediate effect. Liberum Capital and Investec of Aveva Group, down 9.2%, have lowered their respective target prices to 1,400p and 1,350p, from earlier respective targets of 1,500p and 1,600p.
UK markets finished mostly higher in the past week, amid hopes of additional ECB stimulus and following the Bank of England’s decision to keep interest rates flat at 0.5% and its asset purchase programme unchanged. The FTSE 100 index rose 0.3% to 6,567.2, while the FTSE AIM 100 Index added 1% to finish at 3,168.7. However, the FTSE techMARK 100 Index dipped 0.2% to 3,246.8.
US markets closed higher in the past week, following encouraging employment figures. The DJIA index rose 1.1% to 17,573.93, while the NASDAQ Index marginally gained to 4,632.5.

Research and analysis for these reports has been conducted by Decimal Point Analytics Pvt. Ltd. on behalf of NW Brown Group.


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Index movers

Amino Technologies PLC

Amino Technologies PLC, a leader in digital entertainment solutions for IPTV, Internet TV and in-home multimedia distribution, jumped 8.0% to 108.0p. Northland Capital Partners reaffirmed its “Buy” rating on the company’s shares with a current target price of 100.0p.

Aveva Group PLC

Engineering technology company, Aveva Group PLC, slumped 9.2% to 1,395.0p and emerged as the top loser in the Cambridge Index. Liberum Capital and Investec have lowered their respective target prices to 1,400.0p and 1,350.0p, from earlier respective target prices of 1,500.0p and 1,600.0p.

Bango PLC

Bango PLC, a developer and provider of technology for mobile phones, surged 22.3% to 120.5p and emerged as the top gainer in the Cambridge Index.

Domino Printing Sciences PLC

Domino Printing Sciences PLC, a provider of ink jet and laser technologies, rose 2.8% to 620.0p.

DS Smith PLC

DS Smith PLC, a manufacturer and distributor of paper and plastic packaging products, improved 5.1% to 278.2p. The company announced the acquisition of Spanish corrugated board producer, Andopack, for about £35 million and mentioned that it expects the acquisition to deliver a return on capital above the cost of capital in its second year of ownership. In addition, the company also said that its performance in the six months ended October came in line with expectations and its outlook was positive, despite some problems in many of its markets. JPMorgan Chase reissued its “Overweight” rating on the company’s shares with a current price objective of 368.0p. Citigroup also reiterated its “Buy” rating on the stock with a current price objective of 350.0p. Meanwhile, Goodbody Stockbrokers restated its “Hold” rating.

Gaming Realms PLC

Gaming Realms PLC, an online gaming operator, developing free-to-play and real-money products, declined 8.8% to 31.0p.

LPA Group PLC

LPA Group PLC, a provider of electronic and electro mechanical systems, lost 3.9% to 97.5p.

Sareum Holdings PLC

Sareum Holdings PLC, which is engaged in the structure-based drug discovery business, dropped 6.7% to 0.4p.

Sphere Medical Holding PLC

Sphere Medical Holding PLC, a leading developer of innovative monitoring and diagnostic devices for the critical care setting, fell 3.4% to 28.5p.

Vernalis PLC

Shares of biotech firm, Vernalis PLC, advanced 5.4% to 50.8p.

Other movers

1Spatial PLC

1Spatial PLC, the Spatial Big Data Company, which manages the world’s largest spatial data, rose1.8% to 6.8p. The company announced that it has been working with No 1 Aeronautical Information Documents Unit (No 1 AIDU) on a chart database critical to mission and flight planning around the globe.

Abcam PLC

Abcam PLC, a producer and distributor of research-grade antibodies, remained unchanged at 399.8p. The company, at its Annual General Meeting, said that trading in FY 2014/15 has started well, adding that it was well positioned to deliver continued growth and meet its financial and strategic objectives for the year. Mike Redmond and Peter Keen both retired from the Board at the conclusion of the meeting. Numis Securities reissued its “Buy” rating on the company’s shares with a current price target of 520.0p. FinnCap reiterated its “Hold” rating on the stock with a current price objective of 400.0p.

ARM Holdings PLC

Shares of chip maker, ARM Holdings PLC, dipped 0.4% to 871.5p. Numis Securities reaffirmed its “Buy” rating on the company’s shares. Meanwhile, Liberum Capital restated its “Sell” rating on the stock.

Frontier Developments PLC

Frontier Developments PLC, a leading independent developer of video games, rose 0.9% to 270.0p. The company announced that the Beta phase of its development of ‘Elite: Dangerous’ will come to an end on 22 November 2014, with the full public release happening in the current calendar quarter. Frontier has also announced the worldwide Premiere event for ‘Elite: Dangerous’ at Imperial War Museum, Duxford 22 November 2014.

Greene King PLC

Shares of pub operator, Greene King PLC, fell 1.9% to 786.5p. Spirit Pub Company has agreed to a £774 million takeover offer from Greene King, valuing the company at 115p per share, from the original (rejected) offer of 100p per share.

Horizon Discovery Group PLC

Horizon Discovery Group PLC, the life science company supplying research tools to organisations engaged in genomics research and the development of personalised medicines, dipped 0.6% to 153.5p. Horizon appointed Dr David Smoller, Chief Business Officer of Horizon, as an Executive Director of the Board, with immediate effect.

Johnson Matthey PLC

Johnson Matthey PLC, a speciality chemicals company and leading provider of precious metal products and environmental technologies, rose 1.5% to 3,018.0p. Numis Securities reiterated its “Buy” rating on the company’s shares with a current price objective of 3,642.0p.

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