Cambridge Index

Cambridge Index rises 1.6%

The Cambridge Index climbed 1.6% or 298.3 points to 19,025.5, as seven out of the top ten index heavyweights posted weekly gains. Credit Suisse and BNP Paribas reiterated their “Outperform” rating on ARM Holdings, up 1.3%, with price targets of 1260p and 1300p respectively. However AlphaValue maintained its “Sell” rating on the stock with a target price of 997p. Johnson Matthey rose 4.3% and was subject to mixed broker reviews with price targets ranging from 3000p – 3850p. JPMorgan Chase & Co. reissued its “Overweight” rating on DS Smith, down 1.3% and Jefferies Group maintained its “Buy” recommendation on the stock with a target price of 410p.
FinnCap maintained its “Hold” rating on Xaar, up 8.2%. Horizon Discovery Group, up 6.6%, announced that it has issued and allotted 1,719 new ordinary shares. In its final results for the year ended 31 December 2014, Ubisense Group, up 5.9%, announced that revenues climbed to £35.1m from £27m recorded in the previous year, while loss after tax widened to £4.0m from £1.9m. Sphere Medical Holding, up 5.3%, announced the European launch of its ‘Proxima’ medical device at the 35th International Symposium on Intensive Care and Emergency Medicine in Brussels. In its results for the full year ended 31 December 2014, Brady, up 2.6%, announced that total revenue climbed to £31m from £29.4m posted in 2013, while its profit after tax fell to £0.5m from £1.1m recorded in the previous year. The company indicated that 2015 has begun well and expressed confidence over future growth. The company also stated that it has signed 20 contracts with leading companies across the globe. Investec downgraded its rating on Abcam, up 0.9%, to “Hold” from “Buy” but raised its target price on the stock to 507p from 480p. Kier Group, up 0.1%, indicated that it has been nominated for all of the three lots under the Southern Construction Framework, one of the leading regional construction frameworks in the UK. The company also announced that it has signed two contracts worth £130m at the King’s Cross development in north London.
Sareum Holdings, down 2.8%, announced that WH Ireland Limited has been appointed as Nominated Adviser and Co-Broker with immediate effect. Cyan Holdings, down 8%, announced that it has appointed Beaufort Securities Limited as a Joint Broker with immediate effect.
UK markets ended higher this week, after the Chancellor of the Exchequer, George Osborne, unveiled the Government’s 2015 budget and boosted the nation’s growth projections for 2015 & 2016. The FTSE 100 index climbed 4.2% to a new high of 7,022.5, while the FTSE AIM 100 Index advanced 0.2% to finish at 3,206.2. The FTSE techMARK 100 Index edged 1.3% higher to 3,902.1.
US markets closed on a firmer footing in the previous week, after the US Fed suggested that an interest rate hike in April was “unlikely”. However, it removed the word “patient” from its monetary policy statement. The DJIA index rose 2.1% to 18,127.7, while the NASDAQ Index advanced 3.2% to 5,026.4.

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

Aveva Group PLC

Engineering technology company, Aveva Group PLC, climbed 6.2% to 1550.0p.

Bango PLC

Bango PLC, a developer and provider of technology for mobile phones, soared 7.1% to 113.5p.

Cyan Holdings PLC

Cyan Holdings PLC, the integrated software solution provider for utility metering and lighting control, tanked 8.0% to 0.2p. The company announced that it has appointed Beaufort Securities Limited as a Joint Broker with immediate effect and indicated that Hume Capital Securities Plc no longer acts as a joint broker.

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, surged 6.6% to 219.5p. The company announced that it has issued and allotted 1,719 new ordinary shares. These shares will rank pari passu with the company’s existing shares.

LPA Group PLC

LPA Group PLC, a provider of electronic and electro mechanical systems, plunged 7.3% to 63.5p.

Netcall PLC

Netcall PLC, a provider of call-back, auto-messaging and contact solutions, dropped 4.6% to 57.3p.

Sareum Holdings PLC

Sareum Holdings PLC, which is engaged in the structure-based drug discovery business, dropped 2.8% to 0.4p. The company announced that WH Ireland Limited has been appointed as Nominated Adviser and Co-Broker with immediate effect.

Scientific Digital Imaging PLC

Scientific Digital Imaging PLC, a digital imaging technology company, fell 10.3% to 8.8p and emerged as the top loser in the Cambridge Index.

Ubisense Group PLC

Ubisense Group PLC, a market leader of real-time location solutions, jumped 5.9% to 99.0p. The company, in its final results for the year ended 31 December 2014, announced that revenues climbed to £35.1 million from £27.0 million recorded in the previous year, while loss after tax widened to £4.0 million from £1.9 million. Meanwhile, the company’s diluted loss per share widened to 16.7p from 8.9p recorded in the earlier year. Numis Securities reiterated its “Buy” rating on the stock with a target price of 186.0p.

Xaar PLC

Xaar PLC, a provider of inkjet printing technology, rallied 8.2% to 395.8p and emerged as the top gainer in the Cambridge Index. N+1 Singer reiterated its “Corporate” rating on the stock. FinnCap maintained its “Hold” recommendation on the stock.

Other movers

Abcam PLC

Abcam PLC, a producer and distributor of research-grade antibodies, edged 0.9% higher to 492.5p. Investec downgraded its rating on the stock to “Hold” from “Buy” and raised its target price on the stock to 507.0p from 480.0p.

ARM Holdings PLC

Shares of chip maker, ARM Holdings PLC, gained 1.3% to 1202.0p. Credit Suisse reiterated its “Outperform” rating on the stock with a target price of 1260.0p. BNP Paribas reaffirmed its “Outperform” recommendation on the stock with a target price of 1300.0p. AlphaValue maintained its “Sell” rating on the stock with a target price of 997.0p.

Brady PLC

Brady PLC, a provider of transaction and risk management solutions for metals and commodities, added 2.6% to 98.0p. In its results for the full year ended 31 December 2014, the company announced that total revenue climbed to £31.0 million from £29.4 million posted in 2013, while its profit after tax fell to £0.5 million from £1.1 million recorded in the earlier year. The company indicated that 2015 has begun well and expressed confidence over future growth. The company also proposed a hike to its dividend to 1.85p per share. The company stated that it has signed 20 contracts with leading companies across the globe.

DS Smith PLC

DS Smith PLC, a manufacturer and distributor of paper and plastic packaging products, edged 1.3% lower to 367.3p. JPMorgan Chase & Co. reissued its “Overweight” rating on the company’s shares. Meanwhile, Jefferies Group maintained its “Buy” recommendation on the stock with a target price of 410.0p.

Johnson Matthey PLC

Johnson Matthey PLC, a specialty chemicals company and leading provider of precious metal products and environmental technologies, advanced 4.3% to 3389.0p. Credit Suisse restated its “Neutral” rating on the company with a target price of 3000.0p. Deutsche Bank maintained its “Buy” recommendation on the stock with a target price of 3850.0p. AlphaValue reiterated its “Reduce” rating on the shares with a target price of 3127.0p.

Kier Group PLC

Building, civil engineering and property development group, Kier Group PLC, added 0.1% to 1660.0p. The company indicated that it has been nominated for all of the three lots under the Southern Construction Framework, one of the leading regional construction frameworks in the UK. The company also stated that it has bagged two contracts worth £130.0 million at the King’s Cross development in north London.

Sphere Medical Holding PLC

Sphere Medical Holding PLC, a leading developer of innovative monitoring and diagnostic devices for the critical care setting, climbed 5.3% to 20.0p. The company announced the European launch of its ‘Proxima’ medical device at the 35th International Symposium on Intensive Care and Emergency Medicine in Brussels. FinnCap reaffirmed its “Corporate” rating on the stock with a target price of 45.0p.

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