Cambridge Index

Cambridge Index rises 0.8%

The Cambridge index added 228.8 points or 0.8% to close at 27,807.1, as eight out of the top ten index heavyweights posted weekly gains to their share prices. Numis Securities reaffirmed its “Add” rating on Johnson Matthey, up 0.4%, with a target price of 3754p. JPMorgan Chase & Co. reiterated its “Overweight” rating on DS Smith, up 1.2%, with a target price of 470p.

Horizon Discovery Group, up 10.6%, announced the resignation of its Non-Executive Director, Dr. Jonathan Milner with immediate effect. Elektron Technology, up 8.9%, announced that its Annual General Meeting will be held on 20 June 2018. Peel Hunt lowered its target price on Xaar, up 6.1%, to 490p from 570p and gave an “Add” rating. Beaufort Securities restated its “Buy” rating on Kier Group, up 0.6%.

FinnCap gave a target price of 250p on Quixant, down 0.6%. Amino Technologies, down 0.7%, announced that it is entering in a deal with Slovenia's largest multi-service telecoms operators, T-2, to establish country's first 4K UHD TV services, that would be used to power high-definition content delivery and advanced search in the country. FinnCap gave a target price of 200p on the stock. FinnCap gave a target price of 150p for Tristel, down 0.8%. N+1 Singer restated its “Buy” rating on RhythmOne, down 2.7%, with a target price of 56p. CyanConnode Holdings, down 6.3%, announced in its FY results for 2017 that revenues dropped to £1.2m, while reported profit before tax of £11.1m. Separately, the company announced that it has received a purchase order of $3.2m from Larsen & Toubro, India. Dialight, down 12.4%, announced the appointment of David Thomas as a Non-Executive Director with immediate effect.

UK markets finished higher last week, on the back of a strong oil price. The UK’s unemployment rate remained steady as expected for the three months to March, while its average earnings jumped in line with its expectations for the first quarter. The FTSE 100 index climbed 0.7% to settle at 7,778.8, while the FTSE AIM 100 index added 0.7% to close at 5,679.4. Meanwhile, the FTSE techMARK 100 index rose 1.8% to end at 4,741.7.

US markets ended lower last week, as investors remained cautious over rising US Treasury yields. In economic data, US housing starts and building permits declined in April, while the nation’s initial jobless claims rose more-than-expected in the last week. The DJIA index lower by 0.5% to end at 24,715.1, while the NASDAQ index lost 0.7% to close at 7,354.3.


The Cambridge & FTSE AIM 100 Index Movement

Sector Break-up - Market Cap.

Sector Break-up - No of Comps

Index movers

CyanConnode Holdings PLC

CyanConnode Holdings PLC, the integrated software solution provider for utility metering and lighting control, declined 6.3% to 11.3p. The company, in its results for the 12 months ended 31 December 2017, announced that revenues dropped to £1.2 million from £1.8 million registered in the previous year. Moreover, its profit before tax fell to £11.1 million from a profit of £7.9 million reported in the last year. Separately, the company announced that it has received a purchase order of $3.2 million from Larsen & Toubro (L&T), India.

Dialight PLC

Dialight PLC, a provider of electronic lighting and electromagnetic products, plummeted 12.4% to 482.0p and emerged as the top loser in the Cambridge Index. The company announced the appointment of David Thomas as a Non-Executive Director with immediate effect.

Elektron Technology PLC

Elektron Technology PLC, a provider of fast moving engineered products, climbed 8.9% to 34.3p. The company announced that its Annual General Meeting will be held on 20 June 2018.

Frontier Developments PLC

Frontier Developments PLC, a leading independent developer of video games, increased 9.9% to 1665.0p.

Gaming Realms PLC

Gaming Realms PLC (former PDX PLC), an online gaming operator, developing free-to-play and real-money products, fell 4.2% to 7.5p.

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 10.6% to 188.0p. The company announced the resignation of its Non-Executive Director, Dr. Jonathan Milner with immediate effect.

RhythmOne PLC

RhythmOne PLC (former Blinkx PLC), the leading video search engine, shed 2.7% to 220.0p. N+1 Singer restated its “Buy” rating on the stock with a target price of 56p.

Scientific Digital Imaging PLC

Scientific Digital Imaging PLC, a digital imaging technology company, slipped 1.2% to 40.5p.

Vernalis PLC

Shares of biotech firm, Vernalis PLC, soared 27.7% to 4.8p and emerged as the top gainer in the Cambridge Index.

Xaar PLC

Xaar PLC, a provider of inkjet printing technology, advanced 6.1% to 375.0p. Peel Hunt lowered its target price on the stock to 490p from 570p and gave an “Add” rating.

Other movers

Amino Technologies PLC

Amino Technologies PLC, a leader in digital entertainment solutions for IPTV, Internet TV and in-home multimedia distribution, slid 0.7% to 205.5p. The company announced that it is entering in a deal with Slovenia's largest multi-service telecoms operators, T-2, to establish country's first 4K UHD TV services, that would be used to power high-definition content delivery and advanced search in the country. FinnCap restated its “Corporate” rating on the stock with a target price of 200p.

DS Smith PLC

DS Smith PLC, a manufacturer and distributor of paper and plastic packaging products, jumped 1.2% to 554.6p. JPMorgan Chase & Co. reiterated its “Overweight” rating on the stock with a target price of 470p.

Johnson Matthey PLC

Johnson Matthey PLC, a speciality chemicals company and leading provider of precious metal products and environmental technologies, rose 0.4% to 3480.0p. Numis Securities reaffirmed its “Add” rating on the stock with a target price of 3754p.

Kier Group PLC

Building, civil engineering and property development group, Kier Group PLC, rose 0.6% to 1086.0p. Beaufort Securities restated its “Buy” rating on the stock.

Quixant PLC

Quixant PLC, a provider of specialised gaming platforms designed for gaming and slot machine applications, eased 0.6% to 445.0p. FinnCap reissued its “Corporate” rating on the stock with a target price of 250p.

Tristel PLC

Tristel PLC, a provider of infection control and water treatment products, fell 0.8% to 317.5p. FinnCap reaffirmed its “Corporate” rating on the stock with a target price of 150p.

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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