Cambridge Index

Cambridge Index declines 2.9%

The Cambridge index eased 724.18 points or 2.9% to close at 24,042.0, as the top ten index heavyweights posted weekly losses to their share prices. Johnson Matthey, down 4.1%, announced that it has appointed Jason Apter as the company’s Sector Chief Executive of Health. AVEVA Group announced that it has successfully completed the combination with the Schneider Electric Group. Abcam, down 3.4%, announced that its interim revenues increased to £112.5m, while its profit before tax rose to £32.8m for the period. Peel Hunt restated its “Hold” rating on the stock with a target price of 1100p.

Dialight, up 6%, announced that its annual revenues dropped to £181m, while reported profit before tax of £3m for the period. Peel Hunt increased its target price on the stock to 600p from 565p and maintained its “Hold” rating.

Science Group, down 0.5%, announced that its annual revenues increased to £40.8m, while its profit before tax rose to £3.9m. Numis Securities lifted its target price on the stock to 260p from 240p and maintained a “Buy” rating. Quixant, down 2.5%, announced that Nick Jarmany and Jon Jayal have been appointed as the Vice Chairman and the new Chief Executive Officer, respectively. The company also announced that Cresten Preddy, Chief Financial Officer, was due to retire and that Guy Millward would take over from 1 October 2018. Sareum Holdings, down 5.1%, announced the expansion of its clinical development programme for its trial drug, SRA737, with an average enrolment target of 200 patients across ten cancer indications. Horizon Discovery Group, down 10.7%, announced that Darrin Disley has stepped down from all his roles and duties of the company. Vernalis, down 20.6%, announced that it has recorded a rise in the total number of prescriptions of Tuzistra XR amid current cough cold season. Meanwhile, the company anticipates performance of Tuzistra XR to be lower than the original estimated annual guidance of 105,000-115,000 prescriptions.

UK markets ended lower in the previous week, after the British manufacturing sector activity declined to its lowest level in eight months in February, and the nation’s consumer credit dropped for the first time in five years for January. Mortgage approvals in the UK rebounded from a four-year low in January. The FTSE 100 index dropped 2.4% to settle at 7,069.9, while the FTSE AIM 100 index fell 2.2% to close at 5,293.2. The FTSE techMARK 100 index lost 0.6% to end at 4,382.4.

US markets ended the week down, after the US new home sales dropped to a five-month low in January, while its durable goods orders reduced more-than-expected in the same month. The US Federal Reserve Chairman, Jerome Powell, signalled faster pace of interest rates hikes than initially anticipated in 2018. The nation’s consumer confidence index surged to a seventeen-year high, while its manufacturing sector activity jumped to an almost fourteen-year high in February. The DJIA index eased 3% to end at 24,538.1, while the NASDAQ index fell 1.1% to close at 7,257.9.


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, plummeted 37.0% to 1826.0p and emerged as the top loser in the Cambridge Index. The company announced that it has successfully completed the Combination with the Schneider Electric Group. Furthermore, the company stated that, hereafter, Emmanuel Babeau and Peter Herweck will be a part of company's Remuneration Committee and Nomination Committee, respectively. 

Bango PLC

Bango PLC, a developer and provider of technology for mobile phones, surged 16.9% to 197.5p and emerged as the top gainer in the Cambridge Index.

Cambridge Cognition Holdings PLC

Cambridge Cognition Holdings PLC, which specialises in computerised neuropsychological tests, climbed 11.0% to 116.0p.

CyanConnode Holdings PLC

CyanConnode Holdings PLC, the integrated software solution provider for utility metering and lighting control, eased 9.1% to 12.5p.

Dialight PLC

Dialight PLC, a provider of electronic lighting and electromagnetic products, advanced 6.0% to 564.0p. The company, in its final results for the year ended 31 December 2017, announced that revenues slightly dropped to £181.0 million from £182.2 million reported in the same period last year. However, the company reported profit before tax of £3.0 million compared to a loss of £3.8 million reported in the previous year. Its basic earnings per share stood at 4.8p compared to a loss of 8.4p per share in the previous year. Separately, the company announced that its Annual General Meeting will be held on 17 April 2018. Peel Hunt increased its target price on the stock to 600p from 565p and maintained its “Hold” rating.

Elektron Technology PLC

Elektron Technology PLC, a provider of fast moving engineered products, increased 7.0% to 27.5p.

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, dropped 10.7% to 175.0p. The company announced that Darrin Disley has stepped down from all his roles and duties of the company.

Kier Group PLC

Building, civil engineering and property development group, Kier Group PLC, fell 8.2% to 979.0p.

Scientific Digital Imaging PLC

Scientific Digital Imaging PLC, a digital imaging technology company, jumped 8.6% to 31.5p.

Vernalis PLC

Shares of biotech firm, Vernalis PLC, declined 20.6% to 5.0p. The company, in its trading and corporate update, announced that it has recorded a rise in the total number of prescriptions of Tuzistra XR amid current cough cold season. Moreover, the company used an enhanced coupon programme rolled out initiative in the start of February to boost the number of prescriptions. The company observed that the performance of Tuzistra XR was slower than expected and anticipates it to come below of its annual guidance of 105,000-115,000 prescriptions. The company also announced that its financial position is strong with an unaudited cash balance of £44.0 million at 31 January 2018.

Other movers

Abcam PLC

Abcam PLC, a producer and distributor of research-grade antibodies, declined 3.4% to 1226.0p. The company, in its interim results for the six months ended 31 December 2017, announced that revenues increased 9.8% to £112.5 million from £102.5 million reported in the same period last year. Also, its profit before tax jumped to £32.8 million from £25.1 million reported in the previous year. Its basic earnings per share surged to 15.8p compared to 9.8p. Additionally, the company approved an interim dividend of 3.42p per share, payable on 12 April 2018 to shareholders on the register as at 16 March 2018. Peel Hunt restated its “Hold” rating on the stock with a target price of 1100p.

Amino Technologies PLC

Amino Technologies PLC, a leader in digital entertainment solutions for IPTV, Internet TV and in-home multimedia distribution, eased 1.0% to 196.0p. The company announced that its Annual General Meeting will be held at the offices of finnCap on 27 March 2017.

Brady

Brady PLC, a provider of transaction and risk management solutions for metals and commodities, declined 2.1% to 57.5p. The company announced that its final results for the year ended 31 December 2017 will be issued on 13 March 2018.

Johnson Matthey PLC

Johnson Matthey PLC, a speciality chemicals company and leading provider of precious metal products and environmental technologies, dropped 4.1% to 3030.0p. The company announced that it has appointed Jason Apter as the company’s Sector Chief Executive, Health, and will be joining in the US from 05 March 2018. Today, the company announced that it intends to appoint PricewaterhouseCoopers LLP as its external auditor with effect from 01 April 2018, while stated that KPMG LLP will continue as the auditor until 31 March 2018.

Quixant PLC

Quixant PLC, a provider of specialised gaming platforms designed for gaming and slot machine applications, dropped 2.5% to 390.0p. The company announced that Nick Jarmany and Jon Jayal have been appointed as the Vice Chairman and the new Chief Executive Officer, respectively. Also, Quixant mentioned the appointment of Guy Millward as the Chief Financial Officer (CFO) with effect from 01 October 2018. However, the company disclosed that Cresten Preddy was planning to retire as the CFO.

Sareum Holdings PLC

Sareum Holdings PLC, which is engaged in the structure-based drug discovery business, fell 5.1% to 0.9p. The company announced the expansion of its clinical development programme for SRA737 with an average enrolment target of 200 patients across ten cancer indications. Moreover, Dr Udai Banerji, Chief Investigator and Dr Alan D'Andrea, a member of Sierra's DDR Advisory Committee will join the Sierra management team.

Science Group PLC

Science Group PLC (former Sagentia Group PLC), an international technology consulting and IP licensing firm, slid 0.5% to 214.0p. The company, in its final results for the year ended 31 December 2017, announced that revenues increased to £40.8 million from £36.8 million reported in the same period last year. Additionally, the company’s profit before tax stood at £3.9 million compared to £3.0 million reported in the previous year. The basic earnings per share rose to 7.7p from 6.8p in the previous year. The company’s board proposed a final dividend of 4.4p per share, payable on 11 May 2018 to the shareholders on the register as at 20 April 2018. Numis Securities lifted its target price on the stock to 260.0p from 240.0p and maintained a “Buy” rating.

The Cambridge & FTSE AIM 100 Index Movement

Sector Break-up - Market Cap.

Sector Break-up - No. of Comps.

Table 1Cambridge Index  Weekly Top 5 Gainers

Table 2 Cambridge Index  Weekly Top 5 Losers

Table 3 Cambridge Index  Top 5 Weights

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