The Markets In a relatively uneventful day in the financial markets, equities on both sides of the Atlantic were boosted by news that pending homes sales in the US climbed by significantly more than forecast in May. The Pending Home Sales Index climbed by 5.9 percentage points to 101.1, matching the two-year high achieved in March and smashing the 1.5 percentage point rise predicted by economists. In Europe, Spanish prime minister Mariano Rajoy delivered the stark message that his country can not afford to finance itself for long at current rates. The Spanish 10-year government bond yield continues to trade around the 7% mark, a level regarded as unsustainable in the long-term. Although Spain, to date, has only asked for funding for its banking sector, this comment is the nearest indication yet that the government will also soon be requesting aid. At the London close the Dow Jones was up by 88.17 points at 12,622.84 and the Nasdaq was up by 25.44 points at 2,879.50.
In London the FTSE 100 closed up by 76.96 points at 5,523.92; the FTSE 250 finished 86.61 points ahead at 10,751.98; the FTSE All-Share added 36.93 points to 2,883.33; and the FTSE AIM Index increased by 0.9 points to 662.51.  Broker Notes Seymour Pierce reiterated its "buy" recommendation and 4p price target on Ortac Resources (OTC), viewing the appointment of Viktor Pomichel as managing director of the miner's Slovakian gold and silver operations as a positive step forward for the firm. A native Slovakian with considerable experience in investment development and extensive knowledge of the country's economic structure, Mr Pochmidel's addition, the broker notes, "should prove highly useful in moving the [Sturec] project forward". Ortac shares inched 0.125p higher to 0.6125p. Daniel Stewart continues to hold a "buy" stance and 334p price target on gambling firm Playtech (PTEC), believing the firm's new mobile offering Mobenga has launched nine new casino games on-line with Paddy Power (PAP), which it also holds a "buy" stance on. The broker noted that the move makes strategic sense due to the cross selling opportunities between sports betting and casino games. With Paddy Power holding a circa 30% market share of the mobile sports betting market in the UK, Daniel Stewart believes both businesses will benefit from the new product launch. Playtech shares rose 8.25p to 341.5p while Pappy Power shares climbed 0.6p to 52.425p. 
Panmure Gordon maintained its "hold" stance on AG Barr (BAG) following an analyst visit which reassured the broker that continued distribution gains look set to boost the beverage firm's revenue growth. Panmure believes that with limited headroom at the firm's factory, the purchase of a new one may well be necessary, which would increase production flexibility and support further production gains. This however, is reflected in the price the broker added, supporting its neutral stance. AG Barr shares slipped 5.1p to 412.9p. Blue-Chips Standard Chartered (STAN) reported that it continues to see significant opportunities across Asia, Africa and the Middle East as it provided the market with an update on trading so far in 2012. Despite the turbulent economic conditions across the globe, the financial institution commented it remains in growth mode as it continues to win market share by increasing the financial support it offers to customers and clients. As a result of expected income growth, tight control of expenses and the good credit performance of its portfolios, management anticipates the firm will generate high single digit growth in profit before tax for the first half of 2012. Standard Chartered shares jumped 41p to 1,375p. International distribution and outsourcing group Bunzl (BNZL) was another blue-chip to provide an update on trading in the six months to June. The firm expects 7% top-line growth after the contribution of revenue from the four acquisitions it made earlier in the year. In addition, the group recognised a slight improvement in operating margins on the back of the disposal of its UK vending business. Bunzl added the current environment for acquisitions remains positive with a promising pipeline of opportunities, subsequently unveiling the purchase of US distribution firm Service Paper which generated sales of 61 million dollars in 2011. Bunzl shares added 15p to close at 1,305p.  Barclays (BARC) has agreed to pay a total of 290 million pounds in penalties as a resolution to an industry-wide investigation into the settling of interbank offered rates, which claims the bank violated a number of US laws surrounding its operations. Barclays head Bob Diamond commented "The events which gave rise to today's resolutions relate to past actions which fell well short of the standards to which Barclays aspire." He added that in order to reflect collective responsibilities as leader, he, alongside several other board members, would forgo any consideration for an annual bonus in 2012. Barclays shares crept 3.65p higher to 196.05p. Mid-Caps Challenging trading conditions outlined in May's interim management statement have continued through the remainder of the year at Yule Catto and Co. (YULC) the speciality chemicals company admitted. Demand in Europe and North America has remained subdued driven by continuing economic uncertainty and ailing business confidence. Unfortunately, this weakness, combined with unfavourable movements in exchange rates, means the group's performance will be impacted, with a five million pounds reduction in operating profit against the first half of 2011. Yule Catto shares plunged 38.9p to 138p. International infrastructure firm Balfour Beatty (BBY) announced that Hong Kong-based Gammon Construction, 50% owned by the group, has been awarded a 175 million pound contract to build an extension for the Hong Kong Science Park. The centre of excellence, which houses 350 cutting-edge electronics, telecoms and IT firms will be extended via the construction of a 105,000 metre square building - equivalent to 400 tennis courts - with the completion date scheduled for December 2013. The group's shares rose 8.1p to 290.4p. Bwin.party Digital (BPTY) has reversed its decision to sell online poker network Ongame to Shuffle Master on a mutually agreed basis. The gambling firm did however emphasise that the sale of surplus assets such as Ongame remains a core part of its strategy and thus it will soon be re-engaging with other third parties who have expressed an interest in the business. Bwin shares slipped 3.3p to 116.1p.  Small Caps, AIM and PLUS Avanti Communications (AVN) has confirmed the launch of its second satellite, HYLAS 2 for 9:50pm UK time on 2nd August 2012. The satellite, three times the bandwidth capacity of HYLAS 1 will substantially increase Avanti's global coverage and provide companies in the Africa and the Middle East with high speed data. Avanti shares lifted 5.25p to 315.25p. Shares in video telecommunications technology business Scotty Group (SCO) surged 0.15p to 0.9p as it reported an 80% surge in operating profits to 349,000 euros for the year to December. This was on the back of revenues climbing by 4.4% to 5.98 million euros and as the firm's aggressive cost reduction programme bolstered margins. Turnover in the second half of the year showed a 50% improvement on the first half with the delivery of the Eurocopter CH-53PV system falling towards the end of the year. The board commenting that despite Scotty making significant steps forward in cementing its market position and improving profitability, there remains a lot of work to do. Natural resources miner Noventa Limited (NVTA) announced it has reached an agreement with Global Advanced Metals to amend the terms of its tantalum supply contract, which will see Noventa delivery tantalum pentoxide at a price as much as 40% higher than previous. Total volumes to be supplied remain unchanged however the agreement now runs for an extra year to the end of 2016. The firm's shares closed 0.75p higher at 2.275p. 
Finally, Plastics Capital* (PLA) posted a 4% decline in sales to 32.1 million pounds for the year to March 2012 and a 3% slide in underlying pre-tax profits to £3.77 million following the impact of the Japanese tsunami and Thai floods to its operations. Profits remained relatively intact as the firm benefitted from lower interest rates following its refinancing in July 2011 and a favourable movement in exchange rates. In total, new business for the year £2.3 million, which was unfortunately half of what the board expected. Overall management anticipate demand across the business will gradually improve as the year progresses, driven by new business in the pipeline and product development initiatives. Plastics shares dropped 13p to 66.5p. Plymouth based marina owner Sutton Harbour Holdings (SUH) saw revenues creep up by 2.7% to 9.9 million pounds in the twelve months to March but saw pre-tax profits slip by almost 80% to 460,000 pounds. This was on the back of the transport division reporting a loss of 1.68 million pounds following the cessation of operations at Plymouth City Airport last December, but was partially offset by an improved performance in the group's marine, property rental and car park activities. The firm took the step to reduce its net bank debt position during the period, with a 5.7 million pound placing enabling this figure to fall from 21 million pounds in 2011 to 15.8 million pounds. It remains on Sutton's agenda to reduce this position further over the coming year. Management noted that the company is now moving forward with a "good degree of optimism over [its] future plans", and is confident that improvements in its income earning estate will enable growth in shareholder value. Sutton Harbour shares closed unchanged at 21p. * Plastics Capital is a corporate client of Rivington Street Holdings, the ultimate owner of UK-Analyst. | 
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