Cambridge Index

Cambridge Index climbs 3.8%

The Cambridge index advanced 893.8 points or 3.8% to close at 24425.1, as eight out of the top ten index heavyweights posted weekly gains to their share prices. AVEVA Group, up 3.1%, in its trading update for the nine months ended 31 December 2018, announced that it reported a double-digit revenue growth during the period, while hinted improvement in its software sales and operating margins. Also, the company marked positive performance post its merger with Schneider Electric industrial software business. Furthermore, AVEVA highlighted that it expects upbeat outlook for the full year. DS Smith, up 7.5%, announced that it has appointed Rupert Soames as a Non-Executive Director with effect from 01 March 2019. Peel Hunt lowered its target price on the stock to 460p from 585p and gave a “Buy” rating.

FinnCap reiterated its “Corporate” rating on Quixant, up 14.7%. Scientific Digital Imaging, up 4.8%, announced the acquisition of Graticules, a division of Pyser Optics Limited, for a total consideration of £3.4m. Moreover, the company announced that it has successfully raised around £2.5m through the placing of 7.3m new ordinary shares at an issue price of 34p per share, with a view to decrease its net debt, following the acquisition of Graticules. Meanwhile, the company raised an additional £0.1m via PrimaryBid Limited by offering 0.3m new ordinary shares at 34p per share for subscription.

Bango, down 1.8%, announced that its final results for the year ended 31 December 2018 will be released on 19 March 2019. IQGeo Group, down 1.9%, announced that it has appointed Paul Taylor, its acting Chairman on an interim basis, as the new Chairman, to succeed Peter Harverson, who announced resignation from the Board of all IQGeo group companies with immediate effect. RhythmOne, down 2.8%, announced that the Scheme Circular, related to its merger with Taptica International, will be rolled out to its shareholders on 25 February 2019. Peel Hunt slashed its target price on Xaar, down 3%, to 145p from 180p and gave a “Hold” rating.

UK markets ended in the green last week, lifted by gains in financial and banking sector. On the macro front, the British economic growth slowed to a 6-year low in 2018, while the nation’s annual inflation dropped to a 2-year low in January. Furthermore, the UK’s manufacturing production slid in December, whereas industrial production declined more than expected in the same month. On the contrary, the UK’s retail sales accelerated at its fastest pace since December 2016 in January. The FTSE 100 index advanced 2.3% to settle at 7236.7, while the FTSE AIM 100 index added 0.6% to close at 4671.1. Meanwhile, the FTSE techMARK 100 index rose 1.9% to end at 4766.3.

US markets closed higher in the previous week, amid optimism over US-China trade deal as well as upbeat corporate earnings report. On the data front, the US consumer sentiment climbed more than anticipated in February, while the JOLTs job openings surprisingly jumped to a record high level in December. On the other hand, the US retail sales unexpectedly eased to its lowest level in 9 years in December, whereas the small business optimism index dropped to a 2-year low level in January. Also, the US producer price index fell for the second straight month in January. The DJIA index jumped 3.1% to end at 25883.3, while the NASDAQ index climbed 2.4% to close at 7472.4.


The Cambridge & FTSE AIM 100 Index Movement

Sector Break-up - Market Cap.

Sector Break-up - No. of Comps.

Index movers

Amino Technologies PLC

Amino Technologies PLC, a leader in digital entertainment solutions for IPTV, Internet TV and in-home multimedia distribution, advanced 7.3% to 81p.

Dialight PLC

Dialight PLC, a provider of electronic lighting and electromagnetic products, fell 3.1% to 380p.

DS Smith PLC

DS Smith PLC, a manufacturer and distributor of paper and plastic packaging products, jumped 7.5% to 353.5p. The company announced that it has appointed Rupert Soames as a Non-Executive Director with effect from 01 March 2019. Peel Hunt lowered its target price on the stock to 460p from 585p and gave a “Buy” rating.

Elektron Technology PLC

Elektron Technology PLC, a provider of fast-moving engineered products, soared 12.5% to 45p.

Frontier Developments PLC

Frontier Developments PLC, a leading independent developer of video games, tumbled 6.7% to 864p and emerged as the top loser in the Cambridge index.

LPA Group PLC

LPA Group PLC, a provider of electronic and electro mechanical systems, climbed 5.7% to 102.5p.

Netcall PLC

Netcall PLC, a provider of call-back, auto-messaging and contact solutions, declined 6.6% to 28.5p.

Quixant PLC

Quixant PLC, a provider of specialised gaming platforms designed for gaming and slot machine applications, surged 14.7% to 324p and emerged as the top gainer in the Cambridge index. FinnCap reiterated its “Corporate” rating on the stock.

Sareum Holdings PLC

Sareum Holdings PLC, which is engaged in the structure-based drug discovery business, dropped 4.5% to 0.5p.

Xaar PLC

Xaar PLC, a provider of inkjet printing technology, eased 3% to 150.4p. Peel Hunt slashed its target price on the stock to 145p from 180p and gave a “Hold” rating.

Other movers

AVEVA Group PLC

Engineering technology company, AVEVA Group PLC, advanced 3.1% to 3014p. The company, in its trading update for the nine months ended 31 December 2018, announced that it reported a double-digit revenue growth during the period, while hinted improvement in its software sales and operating margins. Also, the company marked positive performance post its merger with Schneider Electric industrial software business. Furthermore, AVEVA highlighted that it expects upbeat outlook for the full year.

Bango PLC

Bango PLC, a developer and provider of technology for mobile phones, fell 1.8% to 82p. The company announced that its final results for the year ended 31 December 2018 will be released on 19 March 2019.

IQGeo Group PLC

IQGeo Group PLC (former Ubisense Group PLC), a market leader of real-time location solutions, dropped 1.9% to 52p. The company announced that it has appointed Paul Taylor, its acting Chairman on an interim basis, as the new Chairman, to succeed Peter Harverson, who announced resignation from the Board of all IQGeo group companies with immediate effect.

RhythmOne PLC

RhythmOne PLC (former Blinkx PLC), the leading video search engine, declined 2.8% to 175p. The company announced that the Scheme Circular, related to its merger with Taptica International, will be rolled out to its shareholders on 25 February 2019.

Scientific Digital Imaging PLC

Scientific Digital Imaging PLC, a digital imaging technology company, climbed 4.8% to 38.5p. The company announced the acquisition of Graticules, a division of Pyser Optics Limited, for a total consideration of £3.4 million. Moreover, the company announced that it has successfully raised around £2.5 million through the placing of 7.3 million new ordinary shares at an issue price of 34p per share, with a view to decrease its net debt, following the acquisition of Graticules. Meanwhile, the company raised an additional £0.1 million via PrimaryBid Limited by offering 0.3 million new ordinary shares at 34p per share for subscription.

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

Subscribe to our newsletter to receive all the latest insights direct to your inbox