Cambridge Index

Cambridge Index eases 1.3%

The Cambridge index dropped 1.3% or 326 points to settle at 24,335.6, as the top four index heavyweights posted weekly losses to their share prices. Jefferies Group raised its target price on DS Smith, down 1.7%, to 530p from 475p but maintained a “Hold” rating. Peel Hunt reaffirmed its “Hold” rating on Abcam, down 1.5%, with a target price of 1020p. Greene King, down 0.7%, announced in its interim results for the 24 weeks ended 15 October 2017 that its revenue was broadly flat compared to the same period last year. However, its profit before tax rose to £123.7m from £92.5m. The company’s board declared an interim dividend of 8.8p per share, payable on 19 January 2018 to shareholders on the register as at 8 December 2017. Barclays reaffirmed its “Overweight” rating on the stock with a target price of 635p. Shore Capital also reissued its “Buy” rating on the stock. Peel Hunt trimmed its target price on the stock to 600p from 625p and maintained its “Add” rating. Canaccord Genuity and Numis Securities restated their “Hold” ratings on the stock with a target price of 520p and 595p respectively.

Cambridge Cognition Holdings, up 7.3%, announced that it showcased the positive results of its pilot study on wearable technology in patients with the major depressive disorder (MDD) for evaluating cognition and mood, at the 2017 International CNS Summit in Boca Raton, Florida. Liberum Capital reaffirmed its “Buy” rating on Frontier Developments, up 2.8%, with a target price of 1250p. RhythmOne, up 2.2%, announced in its interim results for the six months ended 30 September 2017 that revenues jumped 71.5% to $114.5m, while its loss before tax widened to $11.3m. Amino Technologies, up 0.8%, announced that it intends to hold a general meeting on 15 December 2017 for the approval of a resolution to buy back its own ordinary shares. Canaccord Genuity reissued its “Buy” rating on the stock with a target price of 220p.

Peel Hunt trimmed its target price on Xaar, down 1.8%, to 420p from 535p and maintained an “Add” rating.

UK markets finished in the negative territory in the previous week, after the British government agreed to double the amount they would be willing to pay for a smooth departure of the UK from the European Union. The UK’s consumer credit fell to its lowest level in 18 months in October, while its consumer confidence index slumped to a 4-months low in November. The nation’s manufacturing activity surprisingly rose in November. The FTSE 100 index and the FTSE techMARK 100 index declined 1.5%, each, to settle at 7,300.5 and 4,529.3, respectively. The FTSE AIM 100 index lost 1% to close at 5,252.5.

US markets ended mixed in the last week, as gains in banking sector stocks were outpaced by losses in technology sector stocks. The US Markit manufacturing PMI eased less-than-expected in November, whereas the nation’s annualised GDP accelerated at its fastest pace in three years in the third quarter. Also, the initial jobless claims surprisingly fell for the second straight week in the previous week. The DJIA index advanced 2.9% to end at 24,231.6, while the NASDAQ index dropped 0.6% to close at 6,847.6.


The Cambridge & FTSE AIM 100 Index Movement

Sector Break-up  Market Cap

Sector Break-up  No. of Comps

Index movers

1Spatial PLC

1Spatial PLC, the spatial big data company, which manages the world’s largest spatial data, surged 10.3% to 4.0p and emerged as the top gainer in the Cambridge Index.

Cambridge Cognition Holdings PLC

Cambridge Cognition Holdings PLC, which specialises in computerised neuropsychological tests, climbed 7.3% to 154.0p. The company announced that it showcased the positive results of its pilot study on wearable technology in patients with the major depressive disorder (MDD) for evaluating cognition and mood, at the 2017 International CNS Summit in Boca Raton, Florida.

CyanConnode Holdings PLC

CyanConnode Holdings PLC, the integrated software solution provider for utility metering and lighting control, declined 6.2% to 22.8p and emerged as the top loser in the Cambridge Index.

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, advanced 10.2% to 254.0p.

Johnson Matthey PLC

Johnson Matthey PLC, a speciality chemicals company and leading provider of precious metal products and environmental technologies, fell 3.7% to 2968.0p.

Kier Group PLC

Building, civil engineering and property development group, Kier Group PLC, rose 3.7% to 1032.0p.

Quixant PLC

Quixant PLC, a provider of specialised gaming platforms designed for gaming and slot machine applications, dropped 4.5% to 402.5p.

Sareum Holdings PLC

Sareum Holdings PLC, which is engaged in the structure-based drug discovery business, jumped 10.3% to 0.8p.

Scientific Digital Imaging PLC

Scientific Digital Imaging PLC, a digital imaging technology company, lost 2.1% to 23.5p.

Vernalis PLC

Shares of biotech firm, Vernalis PLC, eased 3.9% to 12.3p.

Other movers

Abcam PLC

Abcam PLC, a producer and distributor of research-grade antibodies, dropped 1.5% to 977.5p. Peel Hunt reaffirmed its “Hold” rating on the stock with a target price of 1020.0p.

Amino Technologies PLC

Amino Technologies PLC, a leader in digital entertainment solutions for IPTV, Internet TV and in-home multimedia distribution, added 0.8% to 191.0p. The company announced that it intends to hold a general meeting on 15 December 2017 for the approval of a resolution to buy back its own ordinary shares. Canaccord Genuity reissued its “Buy” rating on the stock with a target price of 220.0p.

DS Smith PLC

DS Smith PLC, a manufacturer and distributor of paper and plastic packaging products, edged 1.7% lower to 537.0p. Jefferies Group raised its target price on the stock to 530.0p from 475.0p and maintained a “Hold” rating.

Frontier Developments PLC

Frontier Developments PLC, a leading independent developer of video games, rose 2.8% to 1335.0p. Liberum Capital reaffirmed its “Buy” rating on the stock with a target price of 1250.0p.

Greene King PLC

Shares of pub operator, Greene King PLC, fell 0.7% to 6.9p. The company, in its interim results for the 24 weeks ended 15 October 2017, announced that its revenue fell to £1.03 billion from £1.04 billion recorded in the same period last year. However, its profit before tax jumped to £123.7 million from £92.5 million in the preceding year. Moreover, its basic earnings per share rose to 31.2p from 23.9p in the prior year. The company’s board declared an interim dividend of 8.8p per share, payable on 19 January 2018 to shareholders on the register as at 8 December 2017. Shore Capital reissued its “Buy” rating on the stock. Peel Hunt trimmed its target price on the stock to 600.0p from 625.0p and maintained its “Add” rating. Numis Securities reiterated its “Hold” rating on the stock with a target price of 595.0p. Barclays reaffirmed its “Overweight” rating on the stock with a target price of 635.0p. Canaccord Genuity restated its “Hold” rating on the stock with a target price of 520.0p.

RhythmOne PLC

RhythmOne PLC (former Blinkx PLC), the leading video search engine, rose 2.2% to 245.0p. Today, the company, in its interim results for the six months ended 30 September 2017, announced that revenues jumped 71.5% to $114.5 million, while its loss before tax widened to $11.3 million.

Xaar PLC

Xaar PLC, a provider of inkjet printing technology, lost 1.8% to 376.0p. Peel Hunt trimmed its target price on the stock to 420.0p from 535.0p and maintained an “Add” rating.

The Cambridge & FTSE AIM 100 Index Movement

Sector Break-up  Market Cap

Sector Break-up  No. of Comps

Table 1 Cambridge Index - Weekly Top 5 Gainers

Table 2 Cambridge Index - Weekly Top 5 Losers

Table 3 Cambridge Index - Top 5 Weights

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