Cambridge Index

Cambridge Index falls 2.6%

The Cambridge index declined 645.9 points or 2.6% to close at 23995.9, as four out of the top five index heavyweights posted weekly losses to their share prices. Greene King, up 2.9%, announced the appointment of Sandra Turner as a Non-Executive Director.

RhythmOne, up 22.1%, announced that the resolution regarding the acquisition of the company by Taptica International Limited was duly passed by Taptica’s shareholders in its Extraordinary General Meeting. Marshall Motor Holdings, up 6.7%, announced that it will hold its Annual General Meeting on 21 May 2019. Separately, the company announced the resignation of Sarah Dickins as the Non-Executive Director. Quixant, up 6.6%, announced that its annual revenues advanced 5.4% to $115.2m in 2018, while its profit before tax dropped 4.7% to $14.3m. Xaar, up 5.3%, announced that its annual revenues plunged to £63.5m, while it recorded a loss before tax of £14.9m. Peel Hunt reconfirmed its “Hold” rating on the stock. LPA Group, up 4.9%, announced in its trading update that it posted a slow beginning in 2019, citing delays in its major rail projects. However, it expects gradual increase in demand throughout the year. Cambridge Cognition Holdings, up 2%, announced a new contract from a major pharmaceutical company. Peel Hunt reissued its “Buy” rating on Frontier Developments, up 0.2%. Liberum Capital restated its “Buy” rating on the stock.

Amino Technologies, down 3.6%, announced the appointment of Karen Bach as the Non-Executive Chairman and the immediate appointment of Steve Vaughan and Erika Schraner as Non-Executive Directors. Horizon Discovery Group, down 4.1%, announced that it will publish its FY2018 results on 29 April 2019. Brady, down 4.6%, announced that it reported a loss before tax of £1.1m for 2018, despite its revenues rising 4.2% to £23.2m. Bango, down 6.3%, announced that its FY2018 revenues skyrocketed to £6.6m from £4.2m reported in 2017, while its loss before tax narrowed to £3.6m from £3.9m. Separately, the company announced the resignation of Martin Rigby as a Non-Executive Director. CyanConnode Holdings, down 7.9%, announced that it has appointed Christopher Jones and Peter Tyler as Non-Executive Directors with immediate effect. The company also announced several other appointments and changes in its Board. Kier Group, down 22.9%, announced that its half-yearly revenue advanced to £2.1b from £2b reported in the same period last year. However, it posted a loss before tax of £35.5m, compared to a profit of £34.3m reported in the previous year. Separately, the company announced that it has appointed Andrew Davies as the Chief Executive Officer.

 

UK markets closed lower last week, following losses in banking and financial sector stocks. Britain’s retail sales climbed in February, while consumer prices advanced more than estimated in the same month. Also, the UK’s unemployment rate unexpectedly eased to a 44-year low in the November-January period. The Bank of England held its key interest rate steady, amid rising Brexit uncertainties. The FTSE 100 index declined 0.3% to settle at 7207.6, while the FTSE AIM 100 index fell 1.4% to close at 4725. Moreover, the FTSE techMARK 100 index lost 1.4% to end at 4761.4.

US markets ended lower in the previous week, amid rising concerns over slowdown in the US economy. The US manufacturing PMI slid to a 21-month low in March, while the services PMI fell more than expected in the same month. The US existing home sales surged in February, whereas the Philadelphia Fed manufacturing index climbed in March. The Federal Reserve left its benchmark interest rate unchanged and signalled that it may not hike interest rates in 2019. The DJIA index fell 1.3% to end at 25502.32, while the NASDAQ index lost 0.6% to close at 7642.67.


The Cambridge & FTSE AIM 100 Index Movement

Sector Break-up - Market Cap.

Sector Break-up - No. of Comps.

Index movers

Abcam PLC

Abcam PLC, a producer and distributor of research-grade antibodies, plummeted 8.7% to 1097p.

CyanConnode Holdings PLC

CyanConnode Holdings PLC, the integrated software solution provider for utility metering and lighting control, declined 7.9% to 6.4p. The company announced that it has appointed Christopher Jones and Peter Tyler as Non-Executive Directors with immediate effect. Meanwhile, Harry Berry will step down from the Board with effect from 31 March 2019 and as the Chief Operating Officer in June 2019. Also, Paul Ratcliff will step down as a Non-Executive Director with effect from June 2019. Moreover, the company announced the promotions of Heather Peacock to the role of Chief Financial Officer, Anil Daulani as the Chief Executive Officer & Managing Director of India and Allan Baig to Vice President Engineering & Operations.

Elektron Technology PLC

Elektron Technology PLC, a provider of fast-moving engineered products, tumbled 14.1% to 36.5p.

Gaming Realms PLC

Gaming Realms PLC (former PDX PLC), an online gaming operator, developing free-to-play and real-money products, dropped 6.5% to 4.1p.

Kier Group PLC

Building, civil engineering and property development group, Kier Group PLC, sank 22.9% to 387.6p and emerged as the top loser in the Cambridge Index. The company, in its interim results for the six months ended 31 December 2018, announced that group revenue advanced 2.9% to £2.1 billion from £2.0 billion reported in the same period last year. However, Kier posted a loss before tax of £35.5 million, compared to a profit of £34.3 million reported in the previous year, while it recorded a basic loss per share of 28.9p, against earnings of 28.7p in the prior year. The company’s board declared an interim dividend of 4.9p per share, payable on 17 May 2019 to shareholders on the register as at 29 March 2019. Separately, the company announced that it has appointed Andrew Davies as the Chief Executive Officer with effect from 15 April 2019. 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, jumped 6.7% to 176p. The company announced that it will hold its Annual General Meeting on 21 May 2019. Separately, the company announced the resignation of Sarah Dickins as the Non-Executive Director and that it has initiated a process to find a successor.

Netcall PLC

Netcall PLC, a provider of call-back, auto-messaging and contact solutions, advanced 6.8% to 47p.

Quixant PLC

Quixant PLC, a provider of specialised gaming platforms designed for gaming and slot machine applications, climbed 6.6% to 332.5p. Today, the company announced that its revenues advanced 5.4% to $115.2 million in 2018, while its profit before tax dropped 4.7% to $14.3 million.

RhythmOne PLC

RhythmOne PLC (former Blinkx PLC), the leading video search engine, rallied 22.1% to 175p. The company announced that the resolution regarding the acquisition of the entire issued and to be issued ordinary share capital of RhythmOne by Taptica International Limited was duly passed by the latter’s shareholders in its Extraordinary General Meeting.

Sareum Holdings PLC

Sareum Holdings PLC, which is engaged in the structure-based drug discovery business, soared 22.2% to 0.8p and emerged as the top gainer in the Cambridge Index.

Other movers

Amino Technologies PLC

Amino Technologies PLC, a leader in digital entertainment solutions for IPTV, Internet TV and in-home multimedia distribution, declined 3.6% to 81p. Today, the company announced the appointment of Karen Bach as the Non-Executive Chairman with effect from 27 March 2019 and the immediate appointment of Steve Vaughan and Erika Schraner as Non-Executive Directors.

Bango PLC

Bango PLC, a developer and provider of technology for mobile phones, declined 6.3% to 96p. The company, in its final results for the year ended 31 December 2018, announced that revenue skyrocketed 60% to £6.6 million from £4.2 million reported in last year. The company’s loss before tax narrowed to £3.6 million from £3.9 million reported in the previous year, while its basic loss per share dropped to 4.1p from 5.2p. Separately, the company announced the resignation of Martin Rigby as a Non-Executive Director with effect from 17 May 2019.

Brady PLC

Brady PLC, a provider of transaction and risk management solutions for metals and commodities, declined 4.6% to 56.5p. Today, the company announced that it reported a loss before tax of £1.1 million for the year 2018, despite its revenues rising 4.2% to £23.2 million.

Cambridge Cognition Holdings PLC

Cambridge Cognition Holdings PLC, which specialises in computerised neuropsychological tests, advanced 2% to 76.5p. The company announced that it has secured a new 3-year contract for delivering digital health technologies to a major pharmaceutical company for a consideration of £1.3 million. FinnCap reiterated its “Corporate” rating on the stock.

Frontier Developments PLC

Frontier Developments PLC, a leading independent developer of video games, advanced 0.2% to 980p. Peel Hunt reissued its “Buy” rating on the stock. Liberum Capital restated its “Buy” rating on the stock.

Greene King PLC

Shares of pub operator, Greene King PLC, advanced 2.9% to 671.2p. Today, the company announced the appointment of Sandra Turner as a Non-Executive Director.

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, declined 4.1% to 163p. The company announced that it will publish its full year results for the year ended 31 December 2018 on 29 April 2019.

LPA Group PLC

LPA Group PLC, a provider of electronic and electro mechanical systems, advanced 4.9% to 107.5p. The company, in its trading update, announced that it posted a slow beginning in 2019, citing delays in its major rail projects including Crossrail. However, the company expects gradual increase in demands throughout the year. Also, LPA anticipates that the delay in the delivery schedules are likely to adversely affect its H12019 results.

Xaar PLC

Xaar PLC, a provider of inkjet printing technology, advanced 5.3% to 117.9p. The company, in its final results for the year ended 31 December 2018, announced that revenues plunged to £63.5 million from £100.1 million reported in the last year. Xaar recorded a loss before tax of £14.9 million, compared to a profit of £12.3 million reported in 2017, while it posted a basic loss per share of 16p, against earnings of 14.3p in the previous year. Peel Hunt reconfirmed its “Hold” rating on the stock.

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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