Cambridge Index

Cambridge Index jumps 2.9%

The Cambridge index advanced 684.7 points or 2.9% to close at 24641.8, as all the top ten index heavyweights posted weekly gains to their share prices. Goldman Sachs increased its target price on AVEVA Group, up 4.7%, to 3200p from 2950p and gave a “Neutral” rating. Jefferies International lifted its target price on DS Smith, up 3.1%, to 370p from 330p and gave a “Hold” rating. Peel Hunt reiterated its “Buy” rating on Abcam, up 1%. Greene King, up 2.1%, announced that it will release its pre-trading statement for the year ending 28 April 2019 on 30 April 2019.

Peel Hunt reaffirmed its “Hold” rating on Horizon Discovery Group, up 6.3%. RhythmOne, up 4.6%, announced that it has secured its 2019 seal recertification from the Trustworthy Accountability Group (TAG) for satisfying TAG’s Inventory Quality Guidelines for ad inventory to support partners restricting their ads to brand-safe environments. Additionally, the company received its initial TAG Certified Against Malware Seal for appreciating its efforts in eliminating malware across the digital advertising supply chain. Marshall Motor Holdings, up 4.1%, in its final results for year ended 31 December 2018, announced that revenues slightly declined 2% to £2.2b. However, its profit before tax surged to £18.7m from £12.6m reported in the previous year, while its basic earnings per share rose to 17.9p from 12.3p. The company’s board proposed a final dividend of 6.39p per share, payable on 24 May 2019 to shareholders on the register as at 27 April 2019. Kier Group, up 1.1%, in its trading update for the six months ended 31 December 2018, announced that it has revised its debt position higher by £50m to £180.5m, citing accounting errors related to property assets. Moreover, Kier reported a non-underlying provision of £25m, amid a postponement in the redevelopment of Broadmoor hospital. Liberum Capital restated its “Buy” rating on the stock.

1Spatial, unchanged at 33.5p, announced the reclassification of its sector to Software sector from Business Support Services sector, with immediate effect. Amino Technologies, down 5.6%, announced that it has won a contract from US telecommunications provider, Waverly Utilities, for delivering Multimedia over Coax Alliance (MoCA)-enabled IPTV devices and Amino OS software. The contract is likely to enhance the firm’s pay-TV video services by strengthening its efficiency. Peel Hunt reiterated its “Hold” rating on Xaar, down 16.8%.

UK markets closed on a stronger footing last week, led by gains in energy and financial sector stocks. Britain’s parliament voted in favour of delaying the nation’s exit from the European Union. The UK’s house price index fell in March, while the total trade deficit widened in January. Also, the nation’s industrial production slid in January, whereas the manufacturing production eased in the same month. The British economy grew more than expected in January. The FTSE 100 index advanced 1.7% to settle at 7228.3, while the FTSE AIM 100 index rose 2.5% to close at 4792.2. Meanwhile, the FTSE techMARK 100 index gained 2.6% to end at 4831.5.

US markets ended higher in the previous week, amid gains in technology sector stocks. US durable goods orders unexpectedly climbed in January, whereas construction spending hit a 9-month high in the same month. The JOLTs job openings advanced in January, whereas the advance retail sales climbed in the same month. US manufacturing production fell for the second consecutive month in February, while the industrial production rose less than expected in the same month. The DJIA index rose 1.6% to end at 25848.9, while the NASDAQ index gained 3.8% to close at 7688.5.


The Cambridge & FTSE AIM 100 Index Movement

Sector Break-up - Market Cap.

Sector Break-up - No. of Comps.

Index movers

AVEVA Group PLC

Engineering technology company, AVEVA Group PLC, jumped 4.7% to 3128p. Goldman Sachs increased its target price on the stock to 3200p from 2950p and gave a “Neutral” rating.

CyanConnode Holdings PLC

CyanConnode Holdings PLC, the integrated software solution provider for utility metering and lighting control, plummeted 7.9% to 7p.

Elektron Technology PLC

Elektron Technology PLC, a provider of fast moving engineered products, declined 6.6% to 42.5p.

Frontier Developments PLC

Frontier Developments PLC, a leading independent developer of video games, soared 9.2% to 978p.

Gaming Realms PLC

Gaming Realms PLC (former PDX PLC), an online gaming operator, developing free-to-play and real-money products, dropped 5.9% to 4.3p.

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, increased 6.3% to 170p. Peel Hunt reaffirmed its “Hold” rating on the stock.

IQGeo Group PLC

IQGeo Group PLC (former Ubisense Group PLC), a market leader of real-time location solutions, tumbled 6.7% to 48.5p.

RhythmOne PLC

RhythmOne PLC (former Blinkx PLC), the leading video search engine, rose 4.6% to 143.3p. The company announced that it has secured its 2019 seal recertification from the Trustworthy Accountability Group (TAG) for satisfying TAG’s Inventory Quality Guidelines for ad inventory to support partners restrict their ads to brand safe environments. Additionally, the company received its initial TAG Certified Against Malware Seal for appreciating its efforts in eliminating malware across the digital advertising supply chain.

Scientific Digital Imaging PLC

Scientific Digital Imaging PLC, a digital imaging technology company, surged 10.7% to 46.5p and emerged as the top gainer in the Cambridge Index.

Xaar PLC

Xaar PLC, a provider of inkjet printing technology, sank 16.8% to 112p and emerged as the top loser in the Cambridge Index. Peel Hunt reiterated its “Hold” rating on the stock.

Other movers

1Spatial PLC

1Spatial PLC, the spatial big data company, which manages the world’s largest spatial data, remained unchanged at 33.5p. The company announced the reclassification of its sector to Software sector from Business Support Services sector, with immediate effect.
Table 1: Cambridge Index - Weekly Top 5 Gainers

Abcam PLC

Abcam PLC, a producer and distributor of research-grade antibodies, rose 1% to 1201p. Peel Hunt reiterated its “Buy” rating on the stock.

Amino Technologies PLC

Amino Technologies PLC, a leader in digital entertainment solutions for IPTV, Internet TV and in-home multimedia distribution, declined 5.6% to 84p. The company announced that it has won a contract from US telecommunications provider, Waverly Utilities, for delivering Multimedia over Coax Alliance (MoCA)-enabled IPTV devices and Amino OS software. The contract is likely to enhance the firm’s pay-TV video services by strengthening its efficiency.

Dialight PLC

Dialight PLC, a provider of electronic lighting and electromagnetic products, edged 0.2% higher to 486p. The company announced that it will host its Annual General Meeting on 17 April 2019.

DS Smith PLC

DS Smith PLC, a manufacturer and distributor of paper and plastic packaging products, advanced 3.1% to 347.6p. Jefferies International lifted its target price on the stock to 370p from 330p and gave a “Hold” rating.

Greene King PLC

Shares of pub operator, Greene King PLC, climbed 2.1% to 652p. The company announced that it will release its pre-trading statement for the year ending 28 April 2019 on 30 April 2019.

Kier Group PLC

Building, civil engineering and property development group, Kier Group PLC, jumped 1.1% to 502.5p. The company, in its trading update for the six months ended 31 December 2018, announced that it has revised its debt position higher by £50.0 million to £180.5 million, citing accounting errors related to property assets. Moreover, Kier reported a non-underlying provision of £25 million, amid a postpone in the redevelopment of Broadmoor hospital. Liberum Capital restated 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, advanced 4.1% to 165p. The company, in its final results for year ended 31 December 2018, announced that revenues slightly declined 2.0% to £2.2 billion. However, its profit before tax surged to £18.7 million from £12.6 million reported in the previous year, while its basic earnings per share rose to 17.9p from 12.3p. The company’s board proposed a final dividend of 6.39p per share, payable on 24 May 2019 to shareholders on the register as at 27 April 2019.

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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