Cambridge Index

Cambridge Index falls 1.9%

The Cambridge index declined 479.6 points or 1.9% to close at 25421.4, as the top five index heavyweights posted weekly losses to their share prices. DS Smith, down 1.3%, in its trading update for the year ended 30 April 2019, announced that it continued to perform well during the period and thus expects upbeat group margins in the second half of the period. The company’s annual results are expected to be released on 13 June 2019. Peel Hunt reconfirmed its “Buy” rating on the stock. Abcam, down 0.3%, announced that it has appointed Numis as the Group's joint corporate broker, with immediate effect. Further, Abcam notified that J.P. Morgan Cazenove will continue to be its Nominated Advisor and joint corporate broker. Peel Hunt reiterated its “Buy” rating on the stock. Greene King, down 13.6%, in its trading update for the year ended 28 April 2019, announced that its annual like-for-like (LFL) sales rose by 2.9%, while its LFL sales for the last 16-weeks advanced 2.4%. Separately, the company announced the joining of Nick Mackenzie as the Chief Executive Officer (CEO), following the decision of Rooney Anand to step down from his post. Peel Hunt reissued its “Buy” rating on the stock.

CyanConnode Holdings, up 16.4%, announced that it has secured a follow-on order from HM Power for delivering a smart metering operation for a Swedish utility for a consideration of £0.7m, with deliveries likely to start from the third quarter of 2019. Dialight, up 10.8%, announced the appointment of its Non-Executive Director, Steve Good, as the Non-Executive Chairman of Devro Plc with effect from 01 June 2019. Cambridge Cognition Holdings, up 6%, today announced that its Annual General Meeting will be held on 23 May 2019. Horizon Discovery Group, up 3.5%, in its final results for the year ended 31 December 2018, announced that revenues climbed to £58.7m from £35m reported in the same period last year. However, its loss before tax widened to £40.7m from £15.7m reported in the previous year, while the basic and diluted loss per share rose to 23.9p from 9.6p in the previous year. Numis Securities reiterated its “Buy” rating on the stock with a target price of 280p. Peel Hunt restated its “Hold” rating on the stock with a target price of 177p. Kier Group, up 2.5%, today announced that its Finance Director, Bev Dew, has decided to step down from his position, with effect from 30 September 2019. Brady, up 0.9%, announced that its Annual General Meeting will be held on 30 May 2019.

Sareum Holdings, unchanged at 0.7p, announced that its CEO, Dr Tim Mitchell, will provide a presentation on the company’s lead programmes at the BioTrinity 2019, London, from 30 April 2019 to 01 May 2019.

UK markets closed mostly lower last week, amid losses in mining and housebuilding sector stocks. On the macro front, UK services PMI jumped in April, while the house price index rose more than expected in the same month. On the contrary, Britain’s net consumer credit advanced at its weakest pace since November 2013 in March. In major news, the Bank of England, in its April monetary policy meeting, unanimously voted to leave its key interest rate unchanged at 0.75% and upgraded its 2019 growth forecast for the British economy. The FTSE 100 index declined 0.6% to settle at 7380.6, while the FTSE AIM 100 index fell 0.1% to close at 5122.1. Meanwhile, the FTSE techMARK 100 index gained 0.5% to end at 5015.2.

US markets ended in the red in the previous week. On the data front, the US non-farm payrolls advanced more than expected in the same month, whereas the nation’s unemployment rate surprisingly declined to its lowest level since December 1969 in same month. Also, the US factory orders climbed to its highest level in 7 months in March. Meanwhile, the US services sector activity fell to its lowest level since August 2017 in April. In other major news, the US Fed, at its latest monetary policy meeting, held its key interest rate steady at a target range of 2.25% to 2.5%. The DJIA index fell 0.4% to end at 26438.5, while the NASDAQ index lost 0.3% to close at 8123.3.


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, eased 1.4% to 3298p.

Bango PLC

Bango PLC, a developer and provider of technology for mobile phones, declined 3.9% to 110.5p.

Cambridge Cognition Holdings PLC

Cambridge Cognition Holdings PLC, which specialises in computerised neuropsychological tests, climbed 6% to 70.5p. Today, the company announced that its Annual General Meeting will be held on 23 May 2019.

CyanConnode Holdings PLC

CyanConnode Holdings PLC, the integrated software solution provider for utility metering and lighting control, rallied 16.4% to 6.8p and emerged as the top gainer in the Cambridge Index. The company announced that it has secured a follow-on order from HM Power for delivering a smart metering operation for a Swedish utility for a consideration of £0.7 million, with deliveries likely to start from the third quarter of 2019.

Dialight PLC

Dialight PLC, a provider of electronic lighting and electromagnetic products, jumped 10.8% to 512p. The company announced the appointment of its Non-Executive Director, Steve Good, as the Non-Executive Chairman of Devro Plc with effect from 01 June 2019.

Frontier Developments PLC

Frontier Developments PLC, a leading independent developer of video games, fell 1.8% to 1002p.

Greene King PLC

Shares of pub operator, Greene King PLC, sank 13.6% to 608.8p and emerged as the top loser in the Cambridge Index. The company, in its trading update for the year ended 28 April 2019, announced that its annual like-for-like (LFL) sales rose by 2.9%, while its LFL sales for the last 16-weeks advanced 2.4%, citing strong growth in its drinks-led locals. Greene King added that its annual LFL sales were supported by Easter sales rising by 4.6%, whereas its Chef & Brewer pub restaurants posted 15.3% LFL growth. Separately, the company announced the joining of Nick Mackenzie as the Chief Executive Officer, following the decision of Rooney Anand to step down from his post. Peel Hunt reissued its “Buy” rating on the stock.

Netcall PLC

Netcall PLC, a provider of call-back, auto-messaging and contact solutions, dropped 1.8% to 55p.

Scientific Digital Imaging PLC

Scientific Digital Imaging PLC, a digital imaging technology company, soared 11.4% to 59.6p.

Xaar PLC

Xaar PLC, a provider of inkjet printing technology, surged 12.1% to 110p.

Other movers

Abcam PLC

Abcam PLC, a producer and distributor of research-grade antibodies, edged 0.3% lower to 1297p. The company announced that it has appointed Numis as the Group's joint corporate broker, with immediate effect. Further, Abcam notified that J.P. Morgan Cazenove will continue to be its Nominated Advisor and joint corporate broker. Peel Hunt reiterated its “Buy” rating on the stock.

Brady PLC

Brady PLC, a provider of transaction and risk management solutions for metals and commodities, added 0.9% to 58p. The company announced that its Annual General Meeting will be held on 30 May 2019.

DS Smith PLC

DS Smith PLC, a manufacturer and distributor of paper and plastic packaging products, slid 1.3% to 362p. The company, in its trading update for the year ended 30 April 2019, announced that it continued to perform well during the period and thus expects upbeat group margins in the second half of the period. The company’s financial results for the year ended 30 April 2019 are expected to be released on 13 June 2019. Peel Hunt reconfirmed its “Buy” rating on the stock.

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, rose 3.5% to 190.4p. The company, in its final results for the year ended 31 December 2018, announced that revenues climbed to £58.7 million from £35 million reported in the same period last year. However, its loss before tax widened to £40.7 million from £15.7 million reported in the previous year, while the basic and diluted loss per share rose to 23.9p from 9.6p in the previous year. Numis Securities reiterated its “Buy” rating on the stock with a target price of 280p. Peel Hunt restated its “Hold” rating on the stock with a target price of 177p.

Kier Group PLC

Building, civil engineering and property development group, Kier Group PLC, advanced 2.5% to 363p. Today, the company announced that its Finance Director, Bev Dew, has decided to step down from his position, with effect from 30 September 2019.

Sareum Holdings PLC

Sareum Holdings PLC, which is engaged in the structure-based drug discovery business, remained unchanged at 0.7p. The company announced that its Chief Executive Officer, Dr Tim Mitchell, will provide a presentation on the company’s lead programmes at the BioTrinity 2019, London, from 30 April 2019 to 01 May 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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