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The Markets The UK equity markets ended the week on a high, shrugging off worrying GDP figures from the US and growing unemployment in Spain. The world's largest economy slowed to an annualised growth rate of 1.5% between April and June, 0.5 percentage points lower than the 2% figure achieved in the first quarter of the year. The Commerce Department explained the slowdown was a reflection of weaker consumer spending and an acceleration in imports, the latter hampering domestic production. Spanish unemployment meanwhile rose by 0.2 percentage points to 24.6% by the end of June, the highest level since 1976, a year in which the country had only just escaped from the dictatorship regime of Francisco Franco. 
At the London close the Dow Jones was up by 100.62 points at 12,988.55 and the Nasdaq was up by 32.09 points at 2,616.94.
In London the FTSE 100 rose by 54.05 points to 5,627.21; the FTSE 250 finished 139.49 points ahead at 11,179.01; the FTSE All-Share gained 28.56 points to 2,924.70; and the FTSE AIM Index rose by 1.82 points to 668.36. 
Broker Notes Shore Capital retained its "sell" stance on Matchtech Group (MTEC), raising concerns over high levels of competition and a subdued recruitment market. The broker noted that the agency's earnings have been artificially depressed by investment in expanding its operations from engineering into professional services and education over the last two years. Shore expects the firm to maintain its 15.6p dividend, yielding 7.5p. The shares were unchanged at 208.5p. Panmure Gordon kept its "buy" rating for Lonmin (LMI) with a reduced target price of 1,186p, from 1,259p. The platinum miner announced that it will cut its capital expenditure in 2013 and 2014 to 250 million dollars (158.9 million pounds) per annum, leading the broker to cut its production forecasts from 765,000 ounces and 810,000 ounces, respectively, to 750,000 ounces for both years. However, Panmure added that the decision will also reduce the group's net debt position, making it easier to cope with debt covenants. Lonmin shares inched up by 5.5p to 699.5p. 
Daniel Stewart reiterated its "buy" recommendation for Ascot Mining (ASMP) with a 21p target price. The broker said that the recent weakness in the gold price has led to the revaluing of a number of gold explorers. However, Daniel Stewart noted that production at the firm's Chassoul mine is beginning to ramp up and, based on an expected total output over the life of the mine of 116,025 ounces, the broker believes the company is currently valued at an enterprise value of just 0.02 dollars per ounce. Blue-Chips In the US Facebook (FB) reported a 157 million dollar (99.9 million pound) loss for the three months ended 30th June, compared to a profit of 240 million dollars (152.7 million pounds) in 2011's comparable period as it splashed out 452 million dollars (287.7 million pounds) in staff rewards. While revenues for the period rose by 32% to 1.18 billion dollars (751 million pounds) investors remain concerned that the social network giant has still not figured out how to monetise access to its website through mobile phones. The shares were down by $2.9 at $23.94 at the London close. 
Pearson (PSON) reported a 28% fall in pre-tax profits for the six months ended 30th June, to 59 million pounds, despite revenues growing 6.9% year-on-year, to 2.6 billion pounds. The publisher's Penguin book business saw operating profits nearly halve to 22 million pounds due to low sales volumes, but the group has high hopes for a stronger publishing schedule in the second half. However, the company noted strong international growth from its education division, with sales in North America rising 30%. The shares tumbled by 64p to 1,230p. Adjusted pre-tax profits at Barclays (BARC) rose by 13% to 4.2 billion pounds for its first half, ended 30th June, although statutory pre-tax profits tumbled by 71% to 759 million pounds as the results of a 2.9 billion pound own credit charge. In the wake of the LIBOR scandal the bank said that it is continuing its search for a new chief executive and chairman, but gave no time frame for when it hoped to achieve this. As it looks to regain its credibility, the firm announced that it will hold an independent review of its business practices. Shares in Barclays advanced by 13.4p to 167p. Mid-Caps William Hill (WMH) reported revenues of 627.8 million pounds for the half year ended 26th June, up 11% on 2011's comparable period, with online sales rising by 30% to 198.4 million pounds. The bookmaker benefited from the launch of its mobile app, launched in mid-February, which delivered over 40,000 new customers and accounted for 22% of online sports sales. The group continued its expansion in the US, with the acquisitions of American Wagering, Brandywine Bookmaking and Cal Neva for a total consideration of 31 million pounds. The shares leapt by 20.7p to 311.1p. 
Media group UBM (UBM) enjoyed growing demand for its events business, with forward bookings for its top 20 conferences rising by 12.7% in the six months ended 30th June. With strong results from emerging markets, especially China, the firm expects to see full year growth of between 12% and 14% from the division. The company's PR Newswire business also achieved growth, of 3.9% to 100.1 million pounds, with US markets remaining resilient and continued growth being seen in Asia and Latin America. UBM shares gained 45.5p to 652.5p. AG Barr (BAG) said that the soft drinks sector suffered from the recent heavy rainfall in the UK, with volumes declining by 1% in the 26 weeks to 23rd June. Still beverages fell by 3% and carbonates sales were flat, with the company believing the trend continued into July. The Irn-Bru manufacturer expects to report sales of 130 million pounds for the period, up 4.5% on 2011's comparable performance, but warned that profits will be lower as margins were impacted by higher raw material costs. The shares lost 5.7p to 425p. Small Caps, AIM and PLUS All Leisure Group (ALLG) shares slipped by 3.25p to 24.5p as the cruise ship operator admitted occupancy rates for the six months to June had fallen from 79% to 75% and that it expects the trading environment to remain depressed for the rest of the year. Despite this the firm said its operational performance was in line with its budget, reflecting short-term measures to improve the business including the dry-docking and extensive upgrade programme for its Minerva ship. All Leisure added it does not propose paying any dividends for the foreseeable future as it will be concentrating on maximising profits and shareholder value. Recent trials of Plant Health Care's (PHC) crop disease protector, Harpin, have shown that when the technology was applied to growing potatoes, it produced a 4.4% greater yield at harvest and a reduced loss after term-long storage of 4.6%. The storage improvement alone is worth 4 dollars per tonne, which equates to 20,000 dollars for 5,000 tonne storage building, it confirmed. The results add to positive findings for a variety of other crops ranging from lettuce to citrus, leading management to comment "the financial savings potential for the grower should prove to be very attractive." Plant Health Care shares jumped 13.5p to 98p. Chariot Oil and Gas (CHAR) confirmed that drilling at the Kabeljou 2714/6-1 well at the Nimrod prospect, offshore Namibia, commenced on Friday morning, the second well of its 5 well drilling programme. As Chariot's biggest prospect, any success would be 'transformational' to the company, it commented. Petrobas Oil and Gas is the operator and has a 30% interest in the prospect, with BP Exploration holding a 45% stake and Chariot the remaining 25%. Chariot shares rose 3.25p to 116.5p. 
Toy manufacturer and distributor Character Group (CCT) said the retail trading conditions in the UK have been much more difficult in recent months than previously anticipated, resulting in an increase in the volume of clearance sales, a reduction in margins and delayed orders from its customers. As a result of the latter in particular, the directors no longer believe that the company will be able to achieve its forecasts for the current year ended August, this comment sending Character Group shares 10p lower to 126p. Wolf Minerals (WLFE) reported on some strong progress at its Hemerdon Ball tungsten and tin project in Devon during the three months to June, a period in which it secured 20 million pounds of project funding with Wolfram Begbau und Hutten (WBH) as well as a deal to sell 80% of the mine's output to WBH over the next five years. Wolf also received tenders for the construction of a processing plant and moved nearer to the completion of a link road to the project. Wolf Minerals shares inched 1.125p higher to 18p. ENK (ENK) shares surged 4.25p to 18p as the nickel laterite production business conceded it had received a takeover approach from a potential acquirer. The Philippines focused company said that the offer would need to be near to its net asset value of 28p in order for the deal to fully recognise the value of its assets and significant technological expertise. The Week Ahead Next week we look forward to full year results from property and infrastructure services provider Sweett Group (CSG), antique coins collector Avarae Global Coins (AVR) and miner Norseman Gold (NGL), which Northland Capital believes could be generating 100,000 ounces per annum within one year. Health and defence software developer Allocate Software (ALL), whose healthcare division achieved a 100% renewal rate, will also issue its finals. We will hear interim results from telecoms tester Spirent Communications (SPT), generator rental company Aggreko (AGK) and oil giant BP (BP.), which has been forced to pay 1.8 billion pounds in damages to its TNK-BP joint venture as a result of the failed partnership with Rosneft. Royal Bank of Scotland (RBS) will issue half year results and investors will be looking for news over the mandatory disposal of its Direct Line insurance business. There will also be interim management statements from technical support services group Diploma (DPLM) and package holiday company Thomas Cook Group (TCG), which recently suffered the embarrassment of failing to deliver Olympics tickets to its customers on time. Meanwhile, fashion retailer Next (NXT), which has seen strong online growth compensate for declining retail sales, will issue a trading update | 
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