Cambridge Index

Cambridge Index adds 0.3%

The Cambridge index advanced 85 points or 0.3% to close at 24603.1, as index heavyweights such as DS Smith and Abcam posted weekly gains to their share prices. Abcam, up 4.8%, announced a change in its registered office address to Discovery Drive, Cambridge Biomedical Campus, Cambridge, CB2 0AX. Today, the company announced that its half-yearly revenues surged 10.8% to £124.7m, while profit before tax rose 2.7% to £33.7m. Berenberg reiterated its “Sell” rating on Greene King, down 1.8%.

Sareum Holdings, up 44.9%, announced the selection of Sierra Oncology’s abstract reporting preclinical data for SRA73, its Chk1 inhibitor, plus low dose gemcitabine (LDG) in combination with immunotherapy, for late-breaking oral presentation at the American Association of Cancer Research (AACR) Annual Meeting 2019. Separately, the company announced today that its half-yearly operating loss widened to £0.9m from £0.8m in the same period last year, whereas its cash balance at the end of the period fell to £1.5m from £2.2m. Dialight, up 20.9%, in its preliminary results for the year ended 31 December 2018, announced that revenues dropped to £169.6m from £181m reported in FY2017. However, its profit before tax more than doubled to £7.4m from £3m reported in the previous year, while its basic earnings per share jumped to 16.4p from 4.8p in the previous year. Peel Hunt reiterated its “Hold” rating on the stock. Science Group, unchanged at 210p, announced that it will publish its preliminary results for the year ended 31 December 2018 on 5 March 2019.

Brady, unchanged at 59.5p, announced the appointment of Iain Greig and Daniel Look to the Board as the Non-Executive Directors with immediate effect. Tristel, down 3.3%, in its interim results for the six months ended 31 December 2018, announced that revenues surged to £12m from £10.7m reported in the same period last year. Additionally, the profit before tax marginally rose to £2.2m from £1.9m reported in the previous year. Its basic earnings per share rose to 4.05p from 3.62p in the prior year. The company’s board declared an interim dividend of 2.04p per share, payable on 30 April 2019 to shareholders on the register as at 29 March 2019. FinnCap reaffirmed its “Corporate” rating on the stock. Marshall Motor Holdings, down 4.2%, announced that it has bagged the position of UK's largest ŠKODA retailer, following the completion of the two acquisitions comprising six ŠKODA franchised dealerships.

UK markets closed mostly lower last week, amid mounting uncertainties over Brexit. On the macro front, Britain’s mortgage approvals unexpectedly climbed in January, whereas the net consumer credit rose more than anticipated in the same month. On the contrary, UK’s manufacturing PMI hit its lowest level in 4 months in February, while the house price index unexpectedly fell in the same month. The FTSE 100 index declined 0.8% to settle at 7178.6, while the FTSE techMARK 100 index lost 0.6% to end at 4737.3. However, the FTSE AIM 100 index rose 0.4% to close at 4689.1.

US markets ended higher in the previous week, as investors remained optimistic over a possible US-China trade deal. On the data front, the US economy grew more than expected in the fourth quarter, while building permits surprisingly climbed in December. Additionally, the US durable goods orders advanced more than anticipated in December. On the other hand, the US manufacturing PMI slid to an 18-month low level in February, while the advance goods trade deficit widened in December. Also, the nation’s housing starts unexpectedly plunged to a 2-year low level in December. The DJIA index rose 0.6% to end at 26031.8, while the NASDAQ index gained 0.7% to close at 7527.6.


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, jumped 4.8% to 1340p. The company announced a change in its registered office address to Discovery Drive, Cambridge Biomedical Campus, Cambridge, CB2 0AX. Today, the company announced that its half-yearly revenues surged 10.8% to £124.7 million, while profit before tax rose 2.7% to £33.7 million.

Bango PLC

Bango PLC, a developer and provider of technology for mobile phones, advanced 6.3% to 93p.

CyanConnode Holdings PLC

CyanConnode Holdings PLC, the integrated software solution provider for utility metering and lighting control, slid 3.8% to 7.7p.

Dialight PLC

Dialight PLC, a provider of electronic lighting and electromagnetic products, surged 20.9% to 411p. The company, in its preliminary results for the year ended 31 December 2018, announced that revenues dropped to £169.6 million from £181 million reported in FY2017. However, its profit before tax more than doubled to £7.4 million from £3 million reported in the previous year, while its basic earnings per share jumped to 16.4p from 4.8p in the previous year. Peel Hunt reiterated its “Hold” rating on the stock.

Frontier Developments PLC

Frontier Developments PLC, a leading independent developer of video games, climbed 4.8% to 914p.

Gaming Realms PLC

Gaming Realms PLC (former PDX PLC), an online gaming operator, developing free-to-play and real-money products, dropped 7.2% to 4.1p.

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 11.6% to 145p.

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, fell 4.2% to 158p. Today, the company announced that it has bagged the position of UK's largest ŠKODA retailer, following the completion of the two acquisitions comprising six ŠKODA franchised dealerships.

RhythmOne PLC

RhythmOne PLC (former Blinkx PLC), the leading video search engine, plummeted 13.4% to 141.2p and emerged as the top loser in the Cambridge index.

Sareum Holdings PLC

Sareum Holdings PLC, which is engaged in the structure-based drug discovery business, skyrocketed 44.9% to 0.8p and emerged as the top gainer in the Cambridge index. The company announced the selection of Sierra Oncology’s abstract reporting preclinical data for SRA73, its Chk1 inhibitor, plus low dose gemcitabine (LDG) in combination with immunotherapy, for late-breaking oral presentation at the American Association of Cancer Research (AACR) Annual Meeting 2019. Separately, today, the company announced that its half-yearly operating loss widened to £0.9 million from £0.8 million in the same period last year, whereas its cash balance at the end of the period fell to £1.5 million from £2.2 million.

Other movers

Brady PLC

Brady PLC, a provider of transaction and risk management solutions for metals and commodities, remained unchanged at 59.5p. Today, the company announced the appointment of Iain Greig and Daniel Look to the Board as the Non-Executive Directors with immediate effect.

Greene King PLC

Shares of pub operator, Greene King PLC, slipped 1.8% to 660p. Berenberg reiterated its “Sell” rating on the stock.

Science Group PLC

Science Group PLC (former Sagentia Group PLC), an international technology consulting and IP licensing firm, remained unchanged at 210p. The company announced that it will publish its preliminary results for the year ended 31 December 2018 on 05 March 2019.

Tristel PLC

Tristel PLC, a provider of infection control and water treatment products, declined 3.3% to 292.5p. The company, in its interim results for the six months ended 31 December 2018, announced that revenues surged to £12 million from £10.7 million reported in the same period last year. Additionally, the profit before tax marginally rose to £2.2 million from £1.9 million reported in the previous year. Its basic earnings per share rose to 4.05p from 3.62p in the prior year. The company’s board declared an interim dividend of 2.04p per share, payable on 30 April 2019 to shareholders on the register as at 29 March 2019. FinnCap reaffirmed its “Corporate” 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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