Cambridge Index

Cambridge Index eases 1.5%

The Cambridge index fell 353.4 points or 1.5% to close at 22,489.7, as index heavyweights such as Johnson Matthey, DS Smith and Abcam PLC posted weekly losses to their share prices. Liberum Capital reissued its “Buy” rating on Johnson Matthey, down 4.4%, with a target price of 4400p. DS Smith, down 2.8%, announced that it has received an approval for its proposed acquisition of Europac from the Board of the Spanish Securities Market Commission. Barclays reiterated its "Overweight" rating on AVEVA Group, up 7.3%. Greene King, up 7.3%, announced that its interim revenues rose to £1.05b, while its profit before tax advanced to £127.7m.

RhythmOne, up 24.1%, announced that it is providing an expanded set of Smart TV Impression Units through its revolutionary advanced TV and video solution, YuMe, with the motive to fulfil the growing market needs. Separately, the company announced a partnership deal with Placed, to enhance the accessibility of consumers by providing new measurement solution. Peel Hunt reaffirmed its “Buy” rating on Frontier Developments, up 9.4%. CyanConnode Holdings, up 2.6%, announced that The Independent Power Producers Association of India (IPPAI) Power Awards 2018 has appreciated its innovative Omnimesh platform in the one of its categories. Science Group, up 0.5%, announced that its Finance Director, Ms Rebecca Archer, would be on maternity leave from January 2019 and is likely to resume her duties in Q3 2019. The company also specified that an existing member of the group will be taking up her responsibilities until she returns.

Sareum Holdings, unchanged at 0.7p, announced that Sierra Oncology, Sareum’s licence-holding subsidiary for SRE737, presented its latest study results at the American Association for Cancer Research (AACR) Conference on Tumor Immunology and Immunotherapy. The data revealed that SRA737 demonstrated “clear anti-tumour activity” in a pre-clinical model of a small cell lung cancer. Kier Group, down 33.4%, announced its plans to raise £264m through a rights issue with a view to reduce the net debt and strengthen its strong position in its growing markets for long term. The company announced that the UK Listing Authority has approved and issued its Prospectus.

UK markets closed higher last week, supported by a weaker Pound. British mortgage approvals climbed to their highest level in 9 months in October, while the house price index advanced in the same month. The UK’s consumer credit grew at its slowest pace since May 2015 in October, whereas the consumer confidence index slid to an 11-month low level in November. UK Prime Minister Theresa May hinted at the possibility of a no-deal Brexit, if the drafted deal would fall short of the desired number of votes in the Parliament. The FTSE 100 index advanced 0.4% to settle at 6980.2, while the FTSE AIM 100 index rose 1.1% to close at 4857.7. Meanwhile, the FTSE techMARK 100 index gained 1.3% to end at 4540.4.

US markets ended on a stronger footing in the previous week, led by gains in retail and technology sector stocks. US annualised gross domestic product rose in Q3 2018, while mortgage applications rebounded in the week ended 23 November 2018. The US advance goods trade deficit widened in October, however new home sales dipped more than expected in the same month. The US consumer confidence index eased in November, while pending home sales declined to a 4-year low level in October. Minutes of the Federal Reserve’s November meeting indicated that an interest rate hike is likely at its December meeting. The DJIA index rose 5.2% to end at 25538.5, while the NASDAQ index gained 5.6% to close at 7330.5.


The Cambridge & FTSE AIM 100 Index Movement

Sector Break-up - Market Cap.

Sector Break-up - No. of Comps.

Index movers

Abcam PLC

Abcam PLC, a producer and distributor of research-grade antibodies, declined 5.1% to 1135p.

AVEVA Group PLC

Engineering technology company, AVEVA Group PLC, jumped 7.3% to 2564p. Barclays reiterated its "Overweight" rating on the stock.

Cambridge Cognition Holdings PLC

Cambridge Cognition Holdings PLC, which specialises in computerised neuropsychological tests, tumbled 8.4% to 104p.

Frontier Developments PLC

Frontier Developments PLC, a leading independent developer of video games, surged 9.4% to 864p. Peel Hunt reaffirmed its “Buy” rating on the stock.

Greene King PLC

Shares of pub operator, Greene King PLC, advanced 7.3% to 549.2p. The company, in its interim results for the 24 weeks ended 14 October 2018, announced that revenues rose to £1.05 billion from £1.03 billion reported in the same period last year. Also, its profit before tax advanced to £127.7 million from £123.7 million reported in the previous year, while its basic earnings per share rose to 33.1p from 35.1p. Green King declared an interim dividend of 8.8p per share, payable on 18 January 2019 to shareholders on the register as at 07 December 2018.

Johnson Matthey PLC

Johnson Matthey PLC, a speciality chemicals company and leading provider of precious metal products and environmental technologies, dropped 4.4% to 2924p. Liberum Capital reissued its “Buy” rating on the stock with a target price of 4400p.

Kier Group PLC

Building, civil engineering and property development group, Kier Group PLC, tanked 33.4% to 508p and emerged as the top loser in the Cambridge Index. The company announced its plans to raise £264 million through a rights issue with a view to reduce the net debt and strengthen its strong position in its growing markets for long term. Kier anticipates of issuing 64.5 million shares at a price of 409p each. Separately, the company announced that the UK Listing Authority has approved and issued its Prospectus.

Netcall PLC

Netcall PLC, a provider of call-back, auto-messaging and contact solutions, plummeted 8.8% to 36.5p.

RhythmOne PLC

RhythmOne PLC (former Blinkx PLC), the leading video search engine, sky rocketed 24.1% to 180p and emerged as the top gainer in the Cambridge index. The company announced that it is providing an expanded set of Smart TV Impression Units through its revolutionary advanced TV and video solution, YuMe, with the motive to fulfil the growing market needs. Further, the company stated that new inventories can be accessed from its premier smart TV original equipment manufacturer (OEM) partners. Separately, today, the company announced a partnership deal with Placed, to enhance the accessibility of consumers by providing new measurement solution.

Tristel PLC

Tristel PLC, a provider of infection control and water treatment products, climbed 7.8% to 235p.

Other movers

CyanConnode Holdings PLC

CyanConnode Holdings PLC, the integrated software solution provider for utility metering and lighting control, advanced 2.6% to 10p. The company announced that The Independent Power Producers Association of India (IPPAI) Power Awards 2018 has appreciated its innovative Omnimesh platform in the “Innovation in Techno Commercial - IPv6 over Low-Power Wireless Personal Area Networks Technology" category.

DS Smith PLC

DS Smith PLC, a manufacturer and distributor of paper and plastic packaging products, dropped 2.8% to 334.1p. The company announced that it has received an approval for its proposed acquisition of Europac from the Board of the Spanish Securities Market Commission.

Sareum Holdings PLC

Sareum Holdings PLC, which is engaged in the structure-based drug discovery business, remained unchanged at 0.7p. The company announced that Sierra Oncology, Sareum’s licence holder advancing clinical cancer candidate SRA737, presented its latest study results at the American Association for Cancer Research (AACR) Conference on Tumor Immunology and Immunotherapy. The data revealed that SRA737 demonstrated “clear anti-tumour activity” in a pre-clinical model of a small cell lung cancer.

Science Group PLC

Science Group PLC (former Sagentia Group PLC), an international technology consulting and IP licensing firm, rose 0.5% to 215p. The company announced that its Finance Director, Ms Rebecca Archer, would be on maternity leave from January 2019 and is likely to resume her duties in Q3 2019. Also, the company specified that an existing member of the group will be taking up her responsibilities until she returns.

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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