Cambridge Index

Cambridge Index falls 0.7%

The Cambridge index dropped 158.6 points or 0.7% to close at 24,162.1, as seven out of the top ten index heavyweights posted weekly losses to their share prices. Morgan Stanley restated its “Overweight” rating on Johnson Matthey, down 1.4%. Jefferies Group restated its “Hold” rating on DS Smith, down 0.9%, with a target price of 420p. Peel Hunt reissued its “Add” rating on Greene King, up 0.3%, with a target price of 600p.

Ubisense Group, up 17.1%, announced that it has appointed FinnCap as its new Nominated Adviser and Broker. Cambridge Cognition Holdings, up 15%, announced that it has secured a new pharmaceutical clinical trial contract worth £2.3m, for a multi-national Phase IV clinical study from a pharmaceutical company. Elektron Technology, up 4.2%, announced that its subsidiary, Bulgin, has entered into a distribution agreement with Arrow Electronics Inc., with an initial inventory order of more than $500k. Frontier Developments, up 2.7%, announced that it will launch the ‘Jurassic World Evolution’ game on 12 June 2018 at the E3 Expo. Brady, up 2.1%, announced that Norway’s Ustekveikja Energi AS has opted to use Brady’s energy data management software to back its physical power market operations in the Nordic Region. Vernalis, up 0.1%, announced that its half-yearly revenues increased to nearly £7m. However, its loss before tax widened to £37.4m.

Tristel, unchanged at 275p, announced that it has entered into collaboration with Parker Laboratories Inc., through which Parker will manufacture and market Tristel’s Duo chlorine dioxide foam disinfectant for North, Central and South American markets. Canaccord Genuity raised its target price on Quixant, down 0.7%, to 530p from 520p and maintained a “Buy” rating. Numis Securities Ltd. reaffirmed its “Buy” rating on Horizon Discovery Group, down 4.5% to 150p, with a target price of 260p. 1Spatial, down 8.2%, announced a £1.6m contract with Land & Property Services to deliver software and services. Peel Hunt lowered its target price on Gaming Realms, down 11.2%, to 20p from 30p and maintained a “Buy” rating.

Most UK markets ended higher in the last week, led by gains in utility and mining sector stocks. British consumer credit rose more-than-anticipated in February, while the consumer confidence index unexpectedly improved in March. The UK economy expanded in line with market consensus in the last quarter. The FTSE 100 index climbed 1.9% to settle at 7,056.6, while the FTSE techMARK 100 index added 2.5% to close at 4,278.9. The FTSE AIM 100 index lost 0.8% to end at 5,248.2.

US markets ended higher last week, after the nation’s annualised GDP growth was revised higher in the fourth quarter, while the advance goods trade deficit widened in February. The number of Americans filing for unemployment benefits unexpectedly dropped to a more than 45-year low last week, while the Michigan consumer sentiment index surged to a 14-year high level in March. However, US consumer confidence unexpectedly dropped in March. The DJIA index gained 2.4% to end at 24,103.1, while the NASDAQ index added 1% to close at 7,063.4.


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, dropped 8.2% to 2.8p. Today, the company announced a £1.6 million contract with Land & Property Services (LPS) based in Northern Ireland to deliver software and services for 5 years.

Bango PLC

Bango PLC, a developer and provider of technology for mobile phones, rose 4.3% to 169.0p.

Cambridge Cognition Holdings PLC

Cambridge Cognition Holdings PLC, which specialises in computerised neuropsychological tests, advanced 15% to 115.0p. The company announced that it has secured a new pharmaceutical clinical trial contract worth £2.3 million, for a multi-national Phase IV clinical study from a leading pharmaceutical company. It will send the study's cognitive assessments, patient reported outcomes and clinician reported outcomes on its CANTAB Connect cloud software. Meanwhile, the company has received a Digital Health Catalyst grant from the Innovate UK to fund a new programme for developing a non-invasive digital biomarker which will be helpful to identify patients of schizophrenia.

Dialight PLC

Dialight PLC, a provider of electronic lighting and electromagnetic products, fell 6.7% to 502.0p.

Elektron Technology PLC

Elektron Technology PLC, a provider of fast moving engineered products, advanced 4.2% to 27.2p. The company announced that its fully owned subsidiary, Bulgin has entered into a global distribution agreement with Arrow Electronics Inc., with an initial inventory order of more than $0.5 million starting from July 2018.

Gaming Realms PLC

Gaming Realms PLC (former PDX PLC), an online gaming operator, developing free-to-play and real-money products, declined 11.2% to 8.8p and emerged as the top loser in the Cambridge Index. Peel Hunt lowered its target price on the stock to 20.0p from 30.0p and maintained a “Buy” rating.

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, dropped 4.5% to 150.0p. Numis Securities Ltd. reaffirmed its “Buy” rating on the stock with a target price of 260.0p.

LPA Group PLC

LPA Group PLC, a provider of electronic and electro mechanical systems, eased 4.2% to 158.5p. 

Scientific Digital Imaging PLC

Scientific Digital Imaging PLC, a digital imaging technology company, increased 4.0% to 32.8p.

Ubisense Group PLC

Ubisense Group PLC, a market leader of real-time location solutions, surged 17.1% to 44.5p and emerged as the top gainer in the Cambridge Index. The company announced that it has appointed FinnCap as its new Nominated Adviser and Broker with immediate effect.

Other movers

Brady PLC

Brady PLC, a provider of transaction and risk management solutions for metals and commodities, rose 2.1% to 59.5p. The company announced that Norway’s Ustekveikja Energi AS has opted Brady’s energy data management (EDM) software to back its physical power market operations in the Nordic Region. The area of operation would include data communications, market interfaces, short-term trading, core energy data and meter management, reconciliations and settlement, invoice API with accounting system as well as the EDM-WEB portal.

DS Smith PLC

DS Smith PLC, a manufacturer and distributor of paper and plastic packaging products, shed 0.9% to 470.6p. Jefferies Group restated its “Hold” rating on the stock with a target price of 420.0p.

Frontier Developments PLC

Frontier Developments PLC, a leading independent developer of video games, rose 2.7% to 1315.0p. Today, the company announced that it will be launching the ‘Jurassic World Evolution’ game on 12 June 2018 at the E3 Expo. Peel Hunt initiated its coverage on the stock with a “Buy” rating and a target price of 1,400.0p.

Greene King PLC

Shares of pub operator, Greene King PLC, climbed 0.3% to 471.4p. Peel Hunt reissued its “Add” rating on the stock with a target price of 600.0p.

Johnson Matthey PLC

Johnson Matthey PLC, a speciality chemicals company and leading provider of precious metal products and environmental technologies, slipped 1.4% to 3042.0p. Morgan Stanley restated its “Overweight” rating on the stock. Liberum Capital reissued its “Hold” rating on the stock with a target price of 3,300.0p.

Quixant PLC

Quixant PLC, a provider of specialised gaming platforms designed for gaming and slot machine applications, fell 0.7% to 408.5p. Canaccord Genuity raised its target price on the stock to 530.0p from 520.0p and maintained a “Buy” rating.

Science Group PLC

Science Group PLC (former Sagentia Group PLC), an international technology consulting and IP licensing firm, increased 1.4% to 213.0p. The company announced the independent valuations of its two currently owned freehold properties, Harston Mill and Great Burgh. The properties have a combined value of £22.6 million based on the vacant possession model, which is slightly above its carrying value of £21.7 million, while it is valued at around £33.9 million based on the sale and leaseback model.

Tristel PLC

Tristel PLC, a provider of infection control and water treatment products, remained unchanged at 275.0p. The company announced that it has entered into a collaboration with Parker Laboratories Inc., USA (Parker), through which Parker will manufacture and market Tristel’s Duo chlorine dioxide foam disinfectant for North, Central and South American markets. This collaboration will give Tristel an opportunity to step into the United States infection prevention market, which satisfies the main intention of the company with respect to an approval by the United States Environmental Protection Agency (EPA) for Duo. FinnCap reissued its “Corporate” rating on the stock with a target price of 280.0p.

Vernalis PLC

Shares of biotech firm, Vernalis PLC, climbed 0.1% to 3.4p. The company, in its interim results for the six months ended 31 December 2017, announced that revenues increased to nearly £7.0 million from £5.6 million reported in the same period last year. However, the company’s loss before tax widened to £37.4 million from £12.2 million, while the basic and diluted loss per share rose to 7.1p from 2.1p in the previous year.

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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