Cambridge Index

Cambridge Index falls 0.2%

The Cambridge index lost 0.2% or 50.6 points to settle at 28,199.3, as index heavyweights such as Johnson Matthey and DS Smith posted weekly losses to their share prices.

Peel Hunt reaffirmed its “Buy” rating on Frontier Developments, up 12%. Peel Hunt reiterated its “Hold” rating on Horizon Discovery Group, up 10.2%. Ubisense Group, unchanged at 70.5p, announced that its Non-Executive Director, Paul Taylor, will act as a Non-Executive Chairman with immediate effect on behalf of Peter Harverson, Non-Executive Chairman, who is on a provisional leave to receive medical treatment.

Marshall Motor Holdings, down 0.3%, announced that Peter Johnson has agreed to continue his role as the Chairman until the ongoing process of appointment of a suitable successor is completed. Xaar, down 24.8%, in its trading update for the six months ended 30 June 2018, announced that it expects to report revenues of around £35m in H1 2018, compared to £44m in H1 2017. Moreover, Xaar indicated that underlying trading since June end has been below its initial forecasts and is likely to remain near the lower end for the full year. The downbeat performance during the period was due to slow adoption of the 1201 printhead than initially estimated, despite strong reception of new products. The company will publish its half yearly results on 05 September 2018. Peel Hunt reaffirmed its “Hold” rating on the stock.

UK markets closed mostly lower in the last week, as downbeat remarks on a no-deal Brexit situation from the British Prime Minister, Theresa May, weighed on the investor sentiment. On the macro front, the UK mortgage approvals dropped more than expected in July, while the British house prices recorded its largest monthly fall in six years in August. Meanwhile, the UK consumer confidence index unexpectedly rose in August, while the nation’s net consumer credit climbed at its slowest pace since November 2015 in July. The FTSE 100 index declined 1.9% to settle at 7432.4, while the FTSE techMARK 100 index lost 1.1% to end at 4707.9. However, the FTSE AIM 100 index rose 1.3% to close at 5899.0.

US markets finished higher in the prior week, after the US consumer confidence index surprisingly jumped to an 18-year high in August. Moreover, the US economy expanded faster than anticipated in the second quarter and marked its strongest gain in nearly 4 years, while the nation’s advance goods trade deficit widened more than estimated in July. On the contrary, US pending home sales unexpectedly eased in July, while the Michigan consumer sentiment index declined to a 7-month low in August. The DJIA index rose 0.7% to end at 25964.8, while the NASDAQ index gained 2.1% to close at 8109.5.


The Cambridge & FTSE AIM 100 Index Movement

Sector Break-up - Market Cap.

Sector Break-up - No. of Comps.

Index movers

Bango PLC

Bango PLC, a developer and provider of technology for mobile phones, soared 12.8% to 168p and emerged as the top gainer in the Cambridge index.

Dialight PLC

Dialight PLC, a provider of electronic lighting and electromagnetic products, eased 1.9% to 518p.

DS Smith PLC

DS Smith PLC, a manufacturer and distributor of paper and plastic packaging products, fell 2.7% to 494p.

Elektron Technology PLC

Elektron Technology PLC, a provider of fast moving engineered products, dropped 2.8% to 45.7p.

Frontier Developments PLC

Frontier Developments PLC, a leading independent developer of video games, surged 12% to 1120p. Peel Hunt reaffirmed its “Buy” rating on the stock.

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, rallied 10.2% to 216.5p. Peel Hunt reiterated its “Hold” rating on the stock.

LPA Group PLC

LPA Group PLC, a provider of electronic and electro mechanical systems, climbed 5.6% to 113.5p.

Quixant PLC

Quixant PLC, a provider of specialised gaming platforms designed for gaming and slot machine applications, jumped 6.7% to 475p.

Sareum Holdings PLC

Sareum Holdings PLC, which is engaged in the structure-based drug discovery business, declined 6.3% to 0.8p.

Xaar PLC

Xaar PLC, a provider of inkjet printing technology, plummeted 24.8% to 188p and emerged as the top loser in the Cambridge index. The company, in its trading update for the six months ended 30 June 2018, announced that it expects to report revenues of around £35 million in H1 2018, compared to £44 million in H1 2017. Moreover, Xaar indicated that underlying trading since June end has been below its initial forecasts and is likely to remain near the lower end for the full year. The downbeat performance during the period was due to slow adoption of the 1201 printhead than initially estimated, despite strong reception of new products. The company will publish its half yearly results on 05 September 2018. Peel Hunt reaffirmed its “Hold” rating on the stock.

Other movers

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, edged 0.3% lower to 161p. The company announced that Peter Johnson has agreed to continue his role as the Chairman until the ongoing process of appointment of a suitable successor is completed.

Ubisense Group PLC

Ubisense Group PLC, a market leader of real-time location solutions, remained unchanged at 70.5p. The company announced that its Non-Executive Director, Paul Taylor, will act as a Non-Executive Chairman with immediate effect on behalf of Peter Harverson, Non-Executive Chairman, who is on a provisional leave to receive medical treatment.

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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