| The Markets The world's sixth largest economy, Brazil, unveiled a 60 billion dollar stimulus programme to boost growth and limit the impact of the global economic slowdown. President Dilma Rousseff plans to invest heavily in the country's transport infrastructure over the next 25 years, with more than 16,000 kilometres of roads and railway to be constructed in the next five. This decision follows the consensus forecast that the Brazilian economy will grow by less than 2% in 2012 having grown by an impressive 7.5% just two years earlier. Closer to home, the European Union recorded the highest Eurozone trade surplus in the 17-nation zone's history in June, the figure touching 14.9 billion euros compared to just 200 million euros in June 2011. Analysts commented that the record was attributed to companies looking to sell outside of Europe to replace weak domestic demand. At the London close the Dow Jones was up by 17.61 points at 13,267.72 and the Nasdaq was up by 6.92 points at 2,775.01. In London the FTSE 100 rose by 17.91 points to 5,852.42; the FTSE 250 finished 115.81 points ahead at 11,618.10; the FTSE All-Share gained 11.23 points to 3,040.96; and the FTSE AIM Index fell by 0.73 points to 681.51. 
Broker Notes Panmure Gordon reiterated its "buy" recommendation for Carillion (CLLN) with a 400p target price, ahead of the construction and support services company releasing interim results on 22nd August. The broker noted that the shares are currently trading at the low end of the firm's 12 month historic range, which it attributed to investor concerns over the group's construction business. Panmure said that the group is performing in-line with expectations, benefiting from growth in the Middle East, and expects results to be weighted towards the second half of the financial year. On the broker's forecasts, the shares trade on an earnings multiple of just 6 times for the 2012 financial year and offer a dividend yield of 6.9%. The shares advanced by 3.9p to 268p.  N+1 Brewin maintained its "buy" rating for CLS Holdings (CLI) with an increased target price of 850p, from 825p. The property investment company reported year-on-year NAV growth of 5.6% to 1,038p and the broker noted that the firm is well financed, with liquid resources of 123 million pounds. Brewin added that the group achieved a record occupancy rate of 96.5%, despite the economic downturn, with interest payments covered 3.4 times. The shares inched up by 4.5p to 725p. Singer Capital retained its "buy" stance on Volex (VLX) with a 340p target price. The broker said that the power cords manufacturer has enjoyed strong sales momentum and won a significant contract with iPhone developer Apple. Singer expects this contract to benefit profits from the 2014 financial year and added that it should help to attract business from other major companies. Volex shares jumped by 10.75p to 252p. Blue-Chips Pennon Group (PNN) reported that its South West Water division performed well in the period from 31st March 2012 to date and is set to beat previous forecasts. The firm added that it is undertaking customer surveys in order to better plan for the next phase of investment. To help fund this, the firm has renewed its 35 million pound credit facility and secured a new 50 million pound loan. However, the water treatment company noted that its Viridor business is trading well below 2011 levels, suffering from weak recyclate prices. The shares slipped by 2.5p to 747p. 
Mid-Caps Bingo and casino operator Rank Group (RNK) reported adjusted pre-tax profits up 9% for the year ended 30th June 2012, to 61.5 million pounds, driven by strong contributions from its Grosvenor's chain and its online meccabingo.com site. The performances compensated for a 12.8% decline in revenues from its Spanish business to 29.2 million pounds. The group increased its net cash position by 12.4% to 41.8 million pounds and announced a 35.3% increase to the annual dividend, to 3.6p. The firm added that it hopes to complete the acquisition of Gala Casinos by the end of September, which will add 23 casinos to the Grosvenor brand. Rank shares leapt by 7p to 132.7p 
Premier Oil (PMO) has plugged and abandoned its Chim Sao North West appraisal well, CS-3X, in Vietnam after failing to discover any significant hydrocarbons. The well was drilled to a total depth of 4,235 metres, including 165 metres of sands in the Middle Dua interval, but only oil shows were encountered. Meanwhile, the oil and gas explorer noted that its CS-N17XP well had achieved production test rates averaging 4,000 barrels of oil per day from four reservoirs. The shares edge up by 3.3p to 393.8p. Defence and security firm Ultra Electronics Holdings (ULE) has been granted approval to acquire power conversion business RFI Corporation for a cash consideration of 12.5 million dollars (8.0 million pounds). The purchase will increase its presence in the US and will be integrated into the company's EMS business where it is expected to provide cost saving synergies and expand the product range. Shares in Ultra Electronics climbed by 76p to 1,592p. Small Caps, AIM and PLUS Online consumer electronics business eXpansys (XPS) announced a new contract win from its e-commerce services subsidiary PJ Media, which will see it provide top-up services to pre-pay customers of Everything Everywhere, the UK owner of Orange. PJ Media has already provided similar services to other large mobile networks, which it believes is a major contributor to the reason it won this contract. The shares jumped 0.125p to 1.175p. The boards of natural resource businesses Petroceltic International (PCI) and Melrose Resources (MRS) have reached an agreement on the terms of a merger to create a diversified North Africa, Mediterranean and Black Sea focused oil and gas company. Under the terms of the agreement Melrose shareholders will receive 17.6 new Petroceltic shares for every Melrose shares owned, meaning existing Melrose shareholders will own 46% of the enlarged company and Petroceltic shareholders will own the remaining 54%. The combined group will boast probable reserves of 84 million barrels of oil equivalent and unrisked prospective resources of 1.37 billion barrels of oil equivalent. Petroceltic shares slipped 0.7375p to 7.475p while Melrose Resources shares inched 1p higher to 136.5p. Children's educational services LZYE Group (LZYE) completed its first day of the trading on AIM after raising 1.55 million pounds. The business intends to expand its current operations from Hong Kong in to mainland China via the acquisition of existing education centres and the re-branding of Misulo outlets. The shares were issued at 8p and closed at 10p, valuing the business at around 24 million pounds. For a full profile and analysis of the group and its prospects join t1ps.com now! 
MediLink Global UK (MEDI), the health technology business, whose shares were suspended in June following the failure to release its final results, explained it was closer to releasing results for the year to December 2011 after clearing up a number of issues. The delay in finalisation of the group's audit was linked to the postponement in the consolidation of the group's non-Malaysian subsidiaries, which has now been resolved. The business anticipates reporting revenue of 1.85 million pounds and a pre-tax loss of 3 millions pounds upon the release of results, which it anticipates will be around the start of September. MediLink shares are suspended at 3.5p, down by more than 80% on the firm's November 2008 IPO price. Sweett Group (CSG) has secured three new contracts with Babcock International Group, Dounreay Site Restoration and EDF Energy, news of which sent shares in the consultancy business 2p higher to 18p. Sweet will provide quantity surveying services to Babcock, cost estimation services to Dounreay and commercial support to EDF, all of which it recognises as 'prestigious frameworks', which reportedly would not be possible without its regional presence in the UK. "Investing in growth sectors such as energy infrastructure is one of the key components of our strategy" commented chief executive Dean Webster. Property development company Safeland (SAF) reported a pre-tax profit of 493,000 pounds for the year to March, up from a loss of 965,000 loss in 2011 as sales surged by 38.2% to 14.34 million pounds and the group realised a one million pound value uplift on the Chandos Tennis Club in Golders Green. With market conditions remaining extremely tough, management remain very selective in the purchases made, with a focus on carrying out small developments in North London. This business reported that this strategy is proving to be successful with a number of completed units sold profitably since the year end. Safeland shares surged 3.5p to 10.5p. The Week Ahead Next week we look forward to full year results from car manual retailer Haynes Publishing (HYNS), Mining giant BHP Billiton (BLT), and alcoholic drinks firm Diageo (DGE). Persimmon (PSN) will also issue finals and broker Northern Capital expects the housebuilder to have benefited from the government's NewBuy mortgage incentive scheme. There will be interim results from sports betting company Sportech (SPO) and cast iron cooker manufacturer Aga Rangemaster (AGA). We will also hear half year results from Glencore International (GLEN), in which investors will be looking for news on the long winded merger with Xstrata (XTA). | 
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