Abcam, the Cambridge based bioscience company that markets antibodies through its online catalogue, gave a trading update ahead of its half year results to December 31st 2010. The company indicated that trading was strong in North America (its largest market), while growth in the UK has been weaker - probably constrained by uncertainty amongst its core academic research clients caused by the UK government's Comprehensive Spending Review.

Abcam reiterated its warning that fiscal deficits in Western economies may impact publicly funded research projects - which are the prime users of Abcam's products. Management remains confident in the outlook for the current year, however house broker Numis downgraded ABC shares from "buy" to "hold" on the news. FinnCap also downgraded the shares to "sell."

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