Cambridge Index

Cambridge Index gains 0.7%

The Cambridge index rose 202.6 points or 0.7% to close at 28,192.2, as the top four index heavyweights posted weekly gains to their share prices. Numis Securities reiterated its “Buy” rating on Johnson Matthey, up 1.1%. Deutsche Bank reissued its “Buy” rating on the stock. Berenberg restated its “Sell” rating on Greene King, down 6.4%.

Quixant, up 5.9%, announced in its trading update that it expects revenue and profit before tax for the first half to be in line with its forecast and on track to achieve full-year targets by the management. The company anticipates a healthy gross margin for the first half. The company's interim results for the six months ended 30 June 2018 are likely to be announced on 19 September 2018. Peel Hunt reiterated its “Buy” rating on the stock with target price of 500p.

Science Group, down 1.2%, announced that it will publish its interim results on 24 July 2018. CyanConnode Holdings, down 2.4%, announced that it has received a $780,000 purchase order from HM Power for implementing smart metering solutions for a Swedish utility company. The company will deliver meters starting from Q4 2018, following a pilot delivery of 1500 meters in Q3. The company announced a new order from Larsen & Toubro for smart metering solutions in India. Amino Technologies, down 3.7%, announced that its half-yearly revenues declined to $41.2m from $49.8m reported in H1 2017. Its loss before tax stood at $200,000 and basic earnings per share declined to 0.2c from 8.6c last year. The Board has recommended an interim dividend of 1.68p per share. Liberum Capital reissued its “Buy” rating on the stock with a target price of 265p.

Bango, down 7.0%, announced in its trading update that revenue growth continued to be in line with its expectations, with the total end user spending (EUS) in H1 2018 surging to £220m from £92m in H1 2017 and anticipates H2 EUS to be slightly ahead of H1. Bango’s cash balance at the end of the period rose to £5.8m from £4.8m as on 31 December 2017. Frontier Developments, down 12.5%, announced in its sales update, that it has reported solid digital sales of its Jurassic World Evolution gameplay across all three platforms – PC, Xbox One and PlayStation. Meanwhile, the initial physical disc sales have been positive, boosting its cumulative sales to around 1m units. Liberum Capital maintained its “Buy” rating on the stock.

UK markets closed higher last week, amid a weaker British Pound. The UK pay growth dropped to a six-month low in the three months to May, while the nation’s inflation figures remained steady in June. The UK house price index dropped to its lowest level in 5 years in May, while the British retail sales fell more-than-expected in June. Meanwhile, the Bank of England Governor Mark Carney warned that a no-deal Brexit scenario might have major effect on the economy. The FTSE 100 index advanced 0.2% to settle at 7,678.8, while the FTSE AIM 100 index rose 0.1% to close at 5,781.3. The FTSE techMARK 100 index gained 1% to end at 4,881.7.

US markets ended mixed in the previous week. The US Federal Reserve Chairman, Jerome Powell forecasted that the job market will remain strong and inflation will stay near 2% over the next several years. The US advance retail sales climbed for the fifth consecutive month in June and the nation’s industrial production rebounded. Meanwhile, the US housing starts declined to a 9-month low in June, while the nation’s initial jobless claims surprisingly dropped to a 48-year low in the last week. The DJIA index rose 0.2% to end at 25,058.1, while the NASDAQ index lost 1.9% to close at 7,820.2.


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, climbed 3.3% to 1371p.

Bango PLC

Bango PLC, a developer and provider of technology for mobile phones, tumbled 7.0% to 156.8p. The company, its trading update for the six months ended 30 June 2018, announced that revenue growth continued to be in line with its expectations, with the total end user spending (EUS) in H1 2018 surging to £220 million from £92 million in H1 2017 and anticipates H2 EUS to be slightly ahead of H1. Further, Bango’s cash balance at the end of the period rose to £5.8 million from £4.8 million as on 31 December 2017. The company’s interim results for the six months ended 30 June 2018 will be released on 18 September 2018.

DS Smith PLC

DS Smith PLC, a manufacturer and distributor of paper and plastic packaging products, jumped 3.3% to 506p.

Frontier Developments PLC

Frontier Developments PLC, a leading independent developer of video games, declined 12.5% to 1190p. The company, in its sales update, announced that it has reported solid digital sales of its Jurassic World Evolution gameplay across all three platforms – PC, Xbox One and PlayStation. Meanwhile, the initial physical disc sales have been positive, thereby boosting its cumulative sales to around 1 million units. Liberum Capital maintained its “Buy” rating on the stock. FinnCap reaffirmed its “Corporate” rating on the stock.

Greene King PLC

Shares of pub operator, Greene King PLC, fell 6.4% to 535.8p. Berenberg restated its “Sell” rating on the stock.

Quixant PLC

Quixant PLC, a provider of specialised gaming platforms designed for gaming and slot machine applications, advanced 5.9% to 450p. The company, in its trading update for the six months ended 30 June 2018, announced that it expects revenue and profit before tax for the first half to be in line with its forecast and on track to achieve full-year targets by the management. Moreover, it anticipates a healthy gross margin for the first half. The company's interim results for the six months ended 30 June 2018 are likely to be announced on 19 September 2018. Peel Hunt reiterated its “Buy” rating on the stock with target price of 500p. FinnCap reconfirmed its “Corporate” rating on the stock.

RhythmOne PLC

RhythmOne PLC (former Blinkx PLC), the leading video search engine, surged 9.7% to 214p and emerged as the top gainer in the Cambridge Index.

Scientific Digital Imaging PLC

Scientific Digital Imaging PLC, a digital imaging technology company, rose 1.8% to 41.5p.

Tristel PLC

Tristel PLC, a provider of infection control and water treatment products, dropped 6.5% to 287.5p.

Vernalis PLC

Shares of biotech firm, Vernalis PLC, plummeted 13.4% to 5.5p and emerged as the top loser in the Cambridge Index.

Other movers

Amino Technologies PLC

Amino Technologies PLC, a leader in digital entertainment solutions for IPTV, Internet TV and in-home multimedia distribution, edged 3.7% lower to 197p. The company, in its interim results for the six months ended 31 May 2018, announced that revenues declined to $41.2 million from $49.8 million reported in the same period last year. Its loss before tax stood at $0.2 million, compared to a profit of £6.3 million reported in the previous year. Its basic earnings per share declined to 0.2c from 8.6c in the prior year. The Board has recommended an interim dividend of 1.68p per share, payable on 03 September 2018 to shareholders on the register as at 10 August 2018. Meanwhile, the Board expects full-year trading to be at par with its previous guidance. Liberum Capital reissued its “Buy” rating on the stock with a target price of 265p. FinnCap reaffirmed its “Corporate” rating on the stock.

CyanConnode Holdings PLC

CyanConnode Holdings PLC, the integrated software solution provider for utility metering and lighting control, declined 2.4% to 10p. The company announced that it has received a $0.78 million purchase order from HM Power for implementing smart metering solutions for a Swedish utility company. The company will deliver meters starting from Q4 2018, following a pilot delivery of 1500 meters in Q3. Today, the company announced a new order from Larsen & Toubro (L&T) for smart metering solutions in India.

Johnson Matthey PLC

Johnson Matthey PLC, a speciality chemicals company and leading provider of precious metal products and environmental technologies, advanced 1.1% to 3705p. Numis Securities reiterated its “Buy” rating on the stock. Deutsche Bank reissued its “Buy” rating on the stock.

Science Group PLC

Science Group PLC (former Sagentia Group PLC), an international technology consulting and IP licensing firm, eased 1.2% to 240p. The company will publish its interim results for the six months ended 30 June 2018 on 24 July 2018.

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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