Cambridge Index

Cambridge Index rises 4.5%

The Cambridge Index rallied 4.5% or 650 points to 15,191.6, as all but two of the top ten index heavyweights posted weekly gains to their share prices. ARM Holdings announced a buy-back of 91,043 ordinary shares at a volume weighted average price of 824.5p apiece to be held in Treasury. Johnson Matthey, up 3.2%, announced that it has agreed to acquire the battery materials business of Clariant AG for $75m and the transaction is expected to complete early in 2015. Goldman Sachs reaffirmed its “Conviction-Buy” rating with a price objective of 3,980p. Liberum Capital reiterated its “Hold” rating with a price target of 3,280p.
1Spatial added 6.1% to 6.6p, after the company’s adjusted earnings before income, taxation, depreciation and amortisation more than doubled to £1.2m for the six months ended 31 July, from £0.48m in 2013. Revenues also rose to £10.1m in 1H14, from £7.8m, however, its pre-tax loss widened to £0.68m from a loss of £0.37m. Amino Technologies, up 4.7%, announced that it has won a contract to provide its new A150 IPTV set-top box to a leading European network operator. FinnCap reaffirmed its target price of 133p. Jefferies restated its “Buy” rating on Aveva Group, up 3.9%, with a price objective of 1,760p.
The deadline for the proposed acquisition of the Spirit Pub Company Plc by Greene King has been extended until 04 November. Dialight, up 0.9%, unveiled its 110-lm/W Class I, Division 1 certified LED lighting fixture for hazardous locations, the most energy efficient Class 1, Division 1 LED High Bay available to date, featuring 110 lumens per Watt efficiency and 10-year full-performance warranty.
Cambridge Cognition Holdings, down 0.6%, strongly backed the launch of The Medical Research Council (MRC) Dementia Research Platform UK (DPUK). Cambridge Cognition mentioned that its ‘Cantab Connect’ is playing a significant role in the ongoing DPUK Dementia Deep and Frequent Phenotyping feasibility study. Ubisense Group, down 1.6%, announced that it has been awarded a six-figure contract by an off-road vehicle manufacturer to use Ubisense's Smart Factory technology at one of their plants in the US.
UK markets finished higher in the past week, helped by the Bank of Japan’s stimulus expansion and after the Bank of England proposed softer-than-expected rules for UK banks. The FTSE 100 index was up 2.5% to 6,546.5, while the FTSE AIM 100 Index added 2.7% to finish at 3,138.1.The FTSE techMARK 100 Index also improved 3.6% to 3,252.3.
US markets closed higher in the earlier week as a marginal rise in the consumer prices hinted that the Fed would keep interest rates low for a longer time. The DJIA index added 2.6% to 16,805.4, while the NASDAQ Index advanced 5.3% to 4,483.7.

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

1Spatial PLC

1Spatial PLC, the Spatial Big Data Company, which manages the world’s largest spatial data, added 6.1% to 6.6p, after the company’s adjusted earnings before income, taxation, depreciation and amortisation more than doubled to £1.2 million for the six months ended 31 July, from £0.48 million in 2013. However, its pre-tax loss widened to £0.68 million from a loss of £0.37 million. Revenues rose to £10.1 million in 1H14, from £7.8 million.

ARM Holdings PLC

Shares of chip maker, ARM Holdings PLC, advanced 7.1% to 875.0p. Zacks downgraded its rating on the company’s shares from a “Neutral” to an “Underperform” rating with a current target price of $37.40. Separately, the company has announced a buy-back of 91,043 ordinary shares at a volume weighted average price of 824.5412p apiece to be held in treasury.

Bango PLC

Bango PLC, a developer and provider of technology for mobile phones, lost 2.5% to 98.5p.

Blinkx PLC

Blinkx PLC, the leading video search engine, declined 5.9% to 28.0p and emerged as the top loser in the Cambridge Index.

Gaming Realms PLC

Gaming Realms PLC, an online gaming operator, developing free-to-play and real-money products, climbed 7.9% to 34.0p.

Kier Group PLC

Building, civil engineering and property development group, Kier Group PLC, dropped 2.7% 1,490.0p.

LPA Group PLC

LPA Group PLC, a provider of electronic and electro mechanical systems, jumped 10.9% to 101.5p and emerged as the top gainer in the Cambridge Index.

Tristel PLC

Tristel PLC, a provider of infection control and water treatment products, fell 1.9% to 76.0p.

Vernalis PLC

Shares of biotech firm, Vernalis PLC, retreated 5.2% to 48.1p. CTI BioPharma Corp. has replaced the UK venture capital backed Chroma Therapeutics as Vernalis’ worldwide licensee of tosedostat. Canaccord Genuity reissued its “Buy” rating on the company’s shares with a current price objective of 56.0p.

Xaar PLC

Xaar PLC, a provider of inkjet printing technology, improved 7.4% to 278.0p.

Other movers

Amino Technologies PLC

Amino Technologies PLC, a leader in digital entertainment solutions for IPTV, Internet TV and in-home multimedia distribution, improved 4.7% to 100.0p. The company announced that it has won a contract to provide its new A150 IPTV set-top box to a leading European network operator. FinnCap reaffirmed its “Corporate” rating on the company’s shares with a current target price of 133.0p.

Aveva Group PLC

Engineering technology company, Aveva Group PLC, advanced 3.9% to 1,536.0p. Jefferies restated its “Buy” rating on the company’s shares with a current price objective of 1,760.0p.

Cambridge Cognition Holdings PLC

Cambridge Cognition Holdings PLC, which specialises in computerised neuropsychological tests, dipped 0.6% to 82.0p. The company announced that it strongly supports the launch of The Medical Research Council (MRC) Dementias Research Platform UK (DPUK). Cambridge Cognition's Cantab Connect is playing a significant role in the ongoing DPUK Dementia Deep and Frequent Phenotyping feasibility study.

Dialight PLC

Dialight PLC, a provider of electronic lighting and electromagnetic products, inched 0.9% higher, at 860.0p. The company unveiled its 110-lm/W Class I, Division 1 certified LED lighting fixture for hazardous locations, the most energy efficient Class 1, Division 1 LED High Bay available to date, featuring 110 lumens per Watt efficiency and 10 year full-performance warranty.

Greene King PLC

Shares of pub operator, Greene King PLC, added 2.8% to 802.0p. Spirit Pub Company Plc has extended the deadline for a 109.5p-share takeover offer from Greene King until 04 November, which was earlier set to expire on 30 October.

Johnson Matthey PLC

Johnson Matthey PLC, a speciality chemicals company and leading provider of precious metal products and environmental technologies, rose 3.2% to 2,974.0p. The company announced that it has agreed to acquire the battery materials business of Clariant AG for $75 million and the transaction is expected to complete early in 2015. Goldman Sachs reaffirmed its “Conviction-Buy” rating on the company’s shares with a current price objective of 3,980.0p. Liberum Capital reiterated its “Hold” rating on the stock with a current price target of 3,280.0p.

Ubisense Group PLC

Ubisense Group PLC, a market leader of real-time location solutions, lost 1.6% to 151.5p. The company announced that it has been awarded a six-figure contract by an off-road vehicle manufacturer to use Ubisense's Smart Factory technology at one of their plants in the US.

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