Cambridge Index

Cambridge Index falls 1.1%

The Cambridge index declined 263.7 points or 1.1% to close at 23425.6, as eight out of the top ten index heavyweights posted weekly losses to their share prices. DS Smith, down 1.7%, announced that its proposed acquisition of Europac has been given a clearance by the European Commission, as part of the transaction it will now dispose two of its packaging businesses in Western France and Portugal.

Marshall Motor Holdings, up 9.9%, announced in its trading update that it anticipates full year continuing underlying profit before tax for 2018 to be higher than the previous year, supported by growth in its used car volumes, margins and revenue. The company will publish results for the year ending 31 December 2018 on 13 March 2019. Cambridge Cognition Holdings, up 6.9%, announced that it has secured the largest electronic clinical outcomes assessment (eCOA) contract worth $0.75m from a specialty pharmaceutical developer for a period of one year. CyanConnode Holdings, up 2.5%, announced that it has signed a deal with Adtel Inc., in which the latter and its subsidiary, Quantum Renewable Inc, would distribute CyanConnode’s Smart metering RF network technology in the Philippines. Sareum Holdings, unchanged at 0.8p, announced that it published new preclinical data from Sierra Oncology that supports monotherapy in ovarian cancer, which was presented at a cancer Symposium in Dublin, Ireland. Separately, the company announced that it has appointed Michael Owen and Clive Birch as Non-Executive Directors. The company also announced that its Annual General Meeting will be held on 18 December 2018.

Gaming Realms, down 5.1%, announced that it will hold its General Meeting on 05 December 2018. RhythmOne PLC, down 5.8%, announced that it will publish its interim results for the six months ended 30 September 2018 on 13 December 2018. Tristel, down 7.1%, today announced the acquisition of the Ecomed Group for a consideration of €3.4m in cash and €1.6m through issue of ordinary shares. Furthermore, the company announced the appointment of Bart Leemans as an Executive Director. Kier Group, down 7.6%, announced in its trading update for the period since 20 September 2018, that it is on track to meet its full year expectations for 2019, supported by positive progress in its FPK programme, amid improved profitability and cash generation. Separately, the company announced that it has agreed to sell its shares in KHSA Limited to Downer Group for a total cash consideration of around £24m. Peel Hunt reconfirmed its “Buy” rating on the stock.

UK markets closed mostly lower last week. Brexit Secretary Dominic Raab and two other ministers resigned from the cabinet following a disagreement over Prime Minister Theresa May's draft Brexit deal. UK retail sales unexpectedly eased in October, whereas the nation’s unemployment rate surprisingly climbed in July-September 2018. British wage growth rose at its fastest pace in 10 years in the third quarter, while the nation’s house price index advanced in September. The FTSE 100 index declined 1.3% to settle at 7013.9, while the FTSE AIM 100 index fell 4.8% to close at 5019.6. Meanwhile, the FTSE techMARK 100 index gained 0.7% to end at 4416.0.

US markets ended in the red in the previous week, weighed down by sharp losses in the technology sector stocks. US industrial production advanced less than anticipated in October, while the nation’s budget deficit widened in the same month. The US advance retail sales climbed in October, while the manufacturing production increased more than expected in the same month. The US Federal Reserve policymakers expressed concerns over the possible global economic slowdown. The DJIA index fell 2.2% to end at 25413.2, while the NASDAQ index lost 2.1% to close at 7247.9.


The Cambridge & FTSE AIM 100 Index Movement

Sector Break-up - Market Cap

Sector Break-up - No. of Comps

Index movers

Cambridge Cognition Holdings PLC

Cambridge Cognition Holdings PLC, which specialises in computerised neuropsychological tests, jumped 6.9% to 116p. The company announced that it has secured the largest electronic clinical outcomes assessment (eCOA) contract worth $0.75 million from a specialty pharmaceutical developer for a period of one year. The technology would help assess multiple outcomes on a single CANTAB Connect platform. FinnCap reiterated its “Corporate” rating on the stock.       

CyanConnode Holdings PLC

CyanConnode Holdings PLC, the integrated software solution provider for utility metering and lighting control, advanced 2.5% to 10.1p. The company announced that it has signed a deal with Adtel Inc., in which the latter and its subsidiary, Quantum Renewable Inc, would distribute CyanConnode’s Smart metering RF network technology in the Philippines.

Elektron Technology PLC

Elektron Technology PLC, a provider of fast-moving engineered products, climbed 3.4% to 45.5p.

Frontier Developments PLC

Frontier Developments PLC, a leading independent developer of video games, tumbled 9.9% to 870p.

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, plummeted 7.7% to 180p.

Johnson Matthey PLC

Johnson Matthey PLC, a speciality chemicals company and leading provider of precious metal products and environmental technologies, rose 1.8% to 3000p.

Kier Group PLC

Building, civil engineering and property development group, Kier Group PLC, dropped 7.6% to 856p. The company, in its trading update for the period since 20 September 2018, announced that it is on track to meet its full year expectations for 2019, supported by positive progress in its FPK programme, amid improved profitability and cash generation. Separately, the company announced that it has agreed to sell its shares in KHSA Limited to Downer Group for a total cash consideration of around £24.0 million. Peel Hunt reconfirmed its “Buy” rating on the stock.

Marshall Motor Holdings PLC

Marshall Motor Holdings PLC, one of the UK's leading automotive retail and leasing groups representing a unique portfolio of prestige and volume brands and with the highest brand coverage of any dealer group in the UK, surged 9.9% to 156p and emerged as the top gainer in the Cambridge Index. The company, in its trading update, announced that it anticipates full year continuing underlying profit before tax for 2018 to be higher than previous year, supported by growth in its used car volumes, margins and revenue. The company will publish results for the year ending 31 December 2018 on 13 March 2019.

Netcall PLC

Netcall PLC, a provider of call-back, auto-messaging and contact solutions, sank 13% to 43.5p and emerged as the top loser in the Cambridge Index.

Tristel PLC

Tristel PLC, a provider of infection control and water treatment products, declined 7.1% to 227.5p. Today, the company announced the acquisition of the Ecomed Group for a consideration of €3.4 million in cash and €1.6 million through issue of ordinary shares. Furthermore, the company announced the appointment of Bart Leemans as an Executive Director.

Other movers

DS Smith PLC

DS Smith PLC, a manufacturer and distributor of paper and plastic packaging products, eased 1.7% to 351.6p. The company announced that its proposed acquisition of Papeles y Cartones de Europa has been given a clearance by the European Commission, following which it would now dispose two of its packaging businesses in Western France and Portugal. Moreover, the company highlighted that acquisition is likely to complete by December 2018.

Gaming Realms PLC

Gaming Realms PLC (former PDX PLC), an online gaming operator, developing free-to-play and real-money products, declined 5.1% to 5.6p. The company announced that it will hold its General Meeting on 5 December 2018.

RhythmOne PLC

RhythmOne PLC (former Blinkx PLC), the leading video search engine, dropped 5.8% to 155p.The company announced that it will publish its interim results for the six months ended 30 September 2018 on 13 December 2018.

Sareum Holdings PLC

Sareum Holdings PLC, which is engaged in the structure-based drug discovery business, remained unchanged at 0.8p. The company announced that it published a new preclinical data from Sierra Oncology that supports monotherapy in ovarian cancer, which was presented at the 30th EORTC-NCI-AACR Symposium in Dublin, Ireland. Separately, the company announced that it has appointed Michael Owen and Clive Birch as Non-Executive Directors. Further, the company announced that its Annual General Meeting will be held on 18 December 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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