Cambridge Index

Cambridge Index falls 2.5%

The Cambridge index declined 608.3 points or 2.5% to close at 24147.3, as eight out of the top ten index heavyweights posted weekly losses to their share prices. Greene King, down 7%, in its final results for the year ended 29 April 2019, announced that revenues slightly advanced to £2.21b from £2.18b reported in the last year. The company’s profit before tax dropped to £172.8m from £197.5m reported in the previous year, while its basic earnings per share fell to 38.9p from 59.1p in the previous year. The board declared a final dividend of 24.4p per share, payable on 13 September 2019 to shareholders on the register as at 9 August 2019.

Cambridge Cognition Holdings, down 1.6%, announced an expansion into the Chinese market with its Neuropsychological Test Automated Battery (CANTAB) computerised assessments. Science Group, down 2.3%, announced that it has requested Frontier Smart Technologies Limited (Frontier) to track a refinancing deal for eliminating the risk of breaching its debt covenants, as Frontier stated that its conditions in relation to a credit facility with Clydesdale Bank Plc will be fulfilled in the near term. Further, Science Group has proposed an extraordinary general meeting in order to remove Frontier’s Chairman Paul Taylor and audit committee member Hossein Yassaie from its board and add its own Chairman Martyn Ratcliffe and legal counsel Sarah Cole to the Frontier board. Peel Hunt reissued its “Buy” rating on Frontier Developments, down 2.5%. Dialight, down 7.7%, announced the appointment of David Blood as the Chairman of the Board, with immediate effect, following the resignation of its former Chairman, Wayne Edmunds. Peel Hunt reiterated its “Hold” rating on the stock. CyanConnode Holdings, down 10.1%, announced that it has entered into a Memorandum of Understanding (MoU) with Chinese manufacturing company, Hexing Electrical Co. Limited, for delivering the smart metering solutions in certain territories. The MoU will enable Hexing to produce a cost-effective turnkey solution by combining CyanConnode's RF Modules with its meters as well as Omnimesh Advanced Metering Infrastructure (AMI) platform with its Meter Data Management System (MDMS). Sareum Holdings, down 33.3%, announced that Sierra Oncology has continued to seek non-dilutive strategic options to support the development of its portfolio of DNA Damage Response assets, which includes SRA737. Further to the dosing of first patient in the first Phase 1 trial of SRA737, Sierra is entitled to pay $7.5m as milestone payment, of which Sareum will receive $2.06m, followed by a payment of $12m after the dosing of the first patient of a randomized Phase 2 trial.

UK markets closed mostly lower last week, weighed down by losses in mining and banking sector stocks. On the macro front, UK’s economy contracted for the first time since 2012 in the second quarter, while the house prices unexpectedly fell in July. Moreover, the UK manufacturing production slid more than estimated in June, whereas the construction sector activity declined for the third straight month in July. The FTSE 100 index declined 2.1% to settle at 7253.9, while the FTSE AIM 100 index fell 4.8% to close at 4517.6. Meanwhile, the FTSE techMARK 100 index gained 0.6% to end at 5351.1.

US markets ended in the red in the previous week, led by losses in industrial and technology sector stocks, amid rising trade tensions between the US and China. On the data front, the US services sector activity dropped for the second consecutive month in July, while the consumer credit rose less than anticipated in June. On the contrary, the US producer price index rose in July, whereas the initial jobless claims fell in the last week. The DJIA index fell 2.6% to end at 26485, while the NASDAQ index lost 3.9% to close at 8004.1.


The Cambridge & FTSE AIM 100 Index Movement

Sector Break-up - Market Cap.

Sector Break-up - No. of Comps.

Index movers

1Spatial PLC

1Spatial PLC, the spatial big data company, which manages the world’s largest spatial data, remained unchanged at 31.5p.

Amino Technologies PLC

Amino Technologies PLC, a leader in digital entertainment solutions for IPTV, Internet TV and in-home multimedia distribution, remained unchanged at 118p.

CyanConnode Holdings PLC

CyanConnode Holdings PLC, the integrated software solution provider for utility metering and lighting control, declined 10.1% to 4.5p. The company announced that it has entered into a Memorandum of Understanding (MoU) with Chinese manufacturing company, Hexing Electrical Co. Limited, for delivering the smart metering solutions in certain territories. The MoU will enable Hexing to produce a cost-effective turnkey solution by combining CyanConnode's RF Modules with its meters as well as Omnimesh Advanced Metering Infrastructure (AMI) platform with its Meter Data Management System (MDMS).

Dialight PLC

Dialight PLC, a provider of electronic lighting and electromagnetic products, dropped 7.7% to 360p. The company announced the appointment of David Blood as the Chairman of the Board, with immediate effect, following the resignation of its former Chairman, Wayne Edmunds. Peel Hunt reiterated its “Hold” rating on the stock.

Gaming Realms PLC

Gaming Realms PLC (former PDX PLC), an online gaming operator, developing free-to-play and real-money products, tumbled 13.4% to 6.6p.

Kier Group PLC

Building, civil engineering and property development group, Kier Group PLC, skyrocketed 27.9% to 101.1p and emerged as the top gainer in the Cambridge Index.

Netcall PLC

Netcall PLC, a provider of call-back, auto-messaging and contact solutions, plummeted 11% to 32.5p.

Quixant PLC

Quixant PLC, a provider of specialised gaming platforms designed for gaming and slot machine applications, advanced 1.7% to 303p.

Sareum Holdings PLC

Sareum Holdings PLC, which is engaged in the structure-based drug discovery business, tanked 33.3% to 0.3p and emerged as the top loser in the Cambridge Index. The company announced that the licence holder advancing clinical cancer candidate SRA737, Sierra Oncology, notified in its financial results for the second quarter ended 30 June 2019, that it has continued to seek non-dilutive strategic options to support the development of its portfolio of DNA Damage Response assets, which includes SRA737. Sierra also revealed that further to the dosing of first patient in the first Phase 1 trial of SRA737, it is entitled to pay $7.5 million as milestone payment, of which Sareum will receive $2.06 million, followed by a payment of $12 million after the dosing of the first patient of a randomized Phase 2 trial.

Scientific Digital Imaging PLC

Scientific Digital Imaging PLC, a digital imaging technology company, remained unchanged at 53p.

Other movers

Cambridge Cognition Holdings PLC

Cambridge Cognition Holdings PLC, which specialises in computerised neuropsychological tests, fell 1.6% to 62p. Today, the company announced an expansion into the Chinese market with its Neuropsychological Test Automated Battery (CANTAB) computerised assessments.

Frontier Developments PLC

Frontier Developments PLC, a leading independent developer of video games, dropped 2.5% to 905p. Peel Hunt reissued its “Buy” rating on the stock.

Greene King PLC

Shares of pub operator, Greene King PLC, declined 7% to 572p. The company, in its final results for the year ended 29 April 2019, announced that revenues slightly advanced to £2.21 billion from £2.18 billion reported in the last year. The company’s profit before tax dropped to £172.8 million from £197.5 million reported in the previous year, while its basic earnings per share fell to 38.9p from 59.1p in the previous year. The board declared a final dividend of 24.4p per share, payable on 13 September 2019 to shareholders on the register as at 9 August 2019.

Science Group PLC

Science Group PLC (former Sagentia Group PLC), an international technology consulting and IP licensing firm, eased 2.3% to 190.5p. The company announced that it has requested Frontier Smart Technologies Limited (Frontier) to track a refinancing deal for eliminating the risk of breaching its debt covenants, as Frontier stated that its conditions in relation to a credit facility with Clydesdale Bank Plc will be fulfilled in the near term. Further, Science Group has proposed an extraordinary general meeting in order to remove Frontier’s Chairman Paul Taylor and audit committee member Hossein Yassaie from its board and add its own Chairman Martyn Ratcliffe and legal counsel Sarah Cole to the Frontier board.

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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