| The Markets In the UK, the Manufacturing Purchasing Managers' Index came in at 49.5 for August according to figures from Markit Group, comfortably beating expectations of 46.1, although still signifying a contraction. Elsewhere, the Eurozone PMI fell to 45.1 in the same month, from 45.3 in July, while HSBC said that China's manufacturing PMI fell to 47.6, the lowest level since March 2009. With banks in the Asian powerhouse becoming reluctant to lend in order to prevent a property bubble, the country has seen a significant slowdown in demand for goods. Meanwhile, Andalusia has requested a 1 billion euro (0.79 billion pound) bailout from the central Spanish government, joining the ranks of other beleaguered regions, such as Valencia and Catalonia. With the autonomous states toppling like dominos the 18 billion euro (14.2 billion pound) pool set up to assist them may soon be drunk dry. At the London close the Dow Jones was up by 90.13 points at 13,090.84 and the Nasdaq was up by 18.50 points at 2,772.24. In London the FTSE 100 rose by 46.93 points to 5,758.41; the FTSE 250 finished 92.94 points ahead at 11,503.13; the FTSE All-Share gained 19.20 points to 2,991.83; and the FTSE AIM Index climbed by 2.32 points to 683.17. 
Broker Notes Panmure Gordon reiterated its "buy" recommendation for Spirit Pub Company (SPRT) with a 67p target price. The pub chain will issue an interim management statement on Tuesday, 4th September, and the broker expects it to reaffirm that it is on track to meet its full year pre-tax profit target of 51.5 million pounds. Panmure noted that the group beat like-for-like sales forecasts in its managed pubs for the 12 weeks ended 26th May, achieving growth of 3.7% against an expected 1%.The broker added that the shares trade on a prospective EV/EBITDAR multiple of 7.1 times for 2013 and offer a dividend yield of 4%. The shares advanced by 1.25p to 57p.  Singer Capital upgraded its stance on Trinity Mirror (TNI) from "fair value" to "buy", with an increased target price of 40p, from 25p. The broker believes that the newspaper publisher's new chief executive, Simon Fox, is likely to reinstate the dividend shortly, with an expected minimum payout of 3p per share in the 2013 financial year. Singer said that this assumption is supported by a stronger first half performance, with profitability significantly ahead of expectations. Shares in Trinity Mirror grew by 1.5p to 41.25p. Seymour Pierce maintained its "buy" rating for Ashtead Group (AHT) and raised its target price from 300p to 320p. The broker expects a strong first quarter performance from industrial equipment rental company, noting peers such as United Rentals reporting revenue growth of 15% for the same period. Seymour Pierce said that the trend from owning to rental in the sector is continuing, while construction sending in the US rose 7% year-on-year in June. The shares slipped by 0.9p to 282.5p. Blue-Chips Mobile telecommunications provider Vodafone Group (VOD) has signed a partner market agreement with Middle East peer Zain Group in order to enhance their capabilities and product offerings. Under the terms of the deal, Vodafone's customers will gain international managed support services in the countries in which Zain operates, such as Saudi Arabia and Bahrain, and the two companies will provide joint network coverage. The collaboration brings the number of countries in which the firm has partnership agreements in to over 50. The shares inched up by 1.7p to 183.2p. 
Tesco's (TSCO) Lotus Retail Growth Freehold and Leasehold Fund, which was listed in Thailand in March 2012, has proposed an investment in five additional Tesco Lotus anchored shopping malls. The plan would would bring the total number of properties in the fund to 22. The proposal will be presented to unitholders for approval on 5th October 2012. Tesco shares crept up by 2.85p to 339.45p. As part of its strategy to refocus its Nigerian operations, Royal Dutch Shell (RDSB) has sold its 30% interest in oil mining lease 40 in the Niger Delta for 102 million dollars (64.2 million pounds) to Elcrest Exploration and Production Nigeria. The oil and gas giant noted that this is the sixth divestment that the Shell Petroleum Development Company of Nigeria subsidiary has made since 2010, having operated in the country for over 50 years. The shares swelled by 25.5p to 2,297p. Mid-Caps Shares in Talvivaara Mining Company (TALV) surged by 14.6p to 140p after it refuted rumours that it was suffering from financing issues and that it was planning to cut down on staff. The Finland based nickel and zinc miner said that its new short-term production schedule was on-track and that it expects to generate significant cost savings without reducing personnel. It believes these saving will allow it to retain sufficient liquidity despite weakening commodity prices. 
The Paragon Group of Companies (PAG) announced that it has acquired a portfolio of closed UK consumer credit card receivables, worth an estimated 16.2 million pounds, from MBNA Europe Bank. The purchase is expected to be immediately earnings enhancing and brings the mortgage and personal loan provider's total level of investment in the current financial year to 115.7 million pounds. The shares climbed by 5.7p to 194.8p. Ophir Energy (OPHR) upgraded estimated reserves at the Upper Cretaceous Mzia discovery in Block 1, Tanzania, from between 2 and 6 trillion cubic feet to between 4 and 9 tcf, after completing additional seismic analysis. The hydrocarbons explorer noted that it it is performing similar tests at its discovery in Block 3 and will continue drilling in Block 1 by the end of September. The group estimates total resources across all it blocks in the region of between 13.5 and 21 tcf. Ophir shares rose by 21.5p to 586p. Small Caps, AIM and PLUS Vipera (VIP) reported revenue growth of 250% for the year ended 31st December 2011 to 660,000 pounds, falling short of its target as orders were delayed by banking clients being reluctant to make financial commitments. The mobile banking software developer saw pre-tax losses nearly double to 0.54 million pounds for the period, with cash reserves falling by 0.92 million pounds, to 0.39 million pounds. The group noted that in early 2012 it looked to merge with a firm which offered complementary services to its existing products, but the deal fell through due to differing strategic objectives. The shares crashed by 2.5p to 6p. Continental Coal (COOL) suffered increased pre-tax losses of 48.6 million dollars (30.6 million pounds) for the year ended 30th June, compared to increased losses of 41.9 million dollars (26.4 million pounds) in 2011, despite increasing revenues by 61.5% year-on-year to 82.1 million dollars (51.7 million pounds). The mining company noted that it was cash flow positive, with the losses attributable to non-cash expenses such as share based payments. Thermal coal sales nearly doubled to 1.86 million tonnes and the firm expects to commission and achieve first coal production from its Penumbra mine in the fourth quarter of 2012. The shares tumbled by 0.5p to 2.875p. Shares in Orchid Developments Group (OCH) collapsed by 0.875p to 1.3p after it announced that a court has ruled against its Orchid Sofia Hills subsidiary in relation to the delayed payments of 4 invoices, worth 213,000 euros (168,579 pounds). As a result, 36,211 euros (28,659 pounds) have been seized from the division's bank account, as were 12 apartments that had been held for sale. As a result, the Bulgaria focused property developer believes it will not be able to survive without raising additional capital. 
On the brighter side, Sky High (SKHG) reported a 22% increase in revenues for the year ended 31st March, to 5.8 million pounds, with the group achieving a pre-tax profit of 80,000 pounds, compared to a loss of 250,000 pounds in 2011. During the period, the firm acquired Count on Us for 455,000 pounds, satisfied in shares, significantly increase its share of the UK aviation data capture and analysis market. The group noted plans of making further acquisitions, in order to increase its product offering, and is also looking to expand overseas by developing relationships with existing clients. Sky High shares soared by 1p to 10.5p. Transense Technologies' (TRT) IntelliSAW division has been commissioned to install three pilots of its IS485 electrical switchgear monitoring systems for companies in Brazil, China and India. The clients include Southern China Grid, which supplies electricity to 230 million people and Gujarat State Electricity Corporation which runs 12 power plants. The company added that it hope to install its products in several new sites within the current calendar year. The shares leapt by 0.75p to 11.875p. Green technology company TEG Group (TEG) has formed a special purpose vehicle, in which it has a 24.5% holding, in conjunction with recycling firm The Foresight Group in order to construct the Dagenham project, a "combined in-vessel composting and anaerobic digestion facility". As part of the deal, TEG has been awarded an engineering and procurement contract worth 16 million pounds, which is scheduled for completion in the first quarter of 2014. The firm added that it has also been given an operating and maintenance contract for the facility, worth 1.3 million pounds per annum over 15 years. TEG shares rocketed by 2.25p to 6.5p. | 
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