| The Markets The UK's trade deficit for July shank to 1.5 billion pounds, from 4.3 billion pounds in June, with greater oil sales driving exports according to figures from the Office of National Statistics. Mariano Rajoy, Spain's Prime Minister since 21st December 2011, came out to say that would not acquiesce with any conditions associated with a bailout package for the country, if one were required, particularly stressing that pensions would be unaffected. Meanwhile, China has moved to quash rumours that it is struggling, with the country's Premier, Wen Jiabao, claiming that it will meet full year growth targets. He called for great co-operation in order to support international trade during difficult economic conditions. At the London close the Dow Jones was up by 85.22 points at 13,339.51 and the Nasdaq was up by 5.21 points at 2,793.56. In London the FTSE 100 fell by 1.01 points to 5,792.19; the FTSE 250 finished 61.08 points behind at 11,780.42; the FTSE All-Share lost 2.76 points to 3,021.72; and the FTSE AIM Index declined by 0.71 points to 699.22. 
Broker Notes First Columbus initiated coverage of Plastics Capital (PLA) with a "buy" recommendation and 90p target price. The broker believes that the plastic and rubber products manufacturer is set to benefit from a long period of investment, including acquisitions and management upgrades. First Columbus feels that the company is unique in the sector due to its strategy of focusing on niche, high margin markets rather than the more typical low-cost high volume model of most plastics companies. On the broker's forecasts, the shares trade on a prospective earnings multiple of 6.1 times for the 2013 financial year, falling to 5.6 times in 2014. The shares slipped by 0.5p to 65p.  Panmure Gordon downgraded its stance on Huntsworth (HNT) from "buy" to "hold" with a reduced target price of 45p to 54p. The public relations firm's shares have recovered well in recent months, but the broker believes that this trend is now over, believing that the company has failed to make any meaningful improvements to the business. Panmure noted weak performances from the firm's Citigate division, which saw organic revenues fall by 4.6% in the first half, as well as a 1% decline at Grayling, which accounts for 50% of total revenues. The broker also advocated cutting the total dividend from 3.5p and using the extra cash to accelerate de-leveraging, with net debt standing at 69.6 million pounds as at 30th June. Huntsworth shares declined by 0.25p to 48.5p Seymour Pierce reiterated is "sell" recommendation for Darty (DRTY) with a 45p target price, ahead of the group's first quarter trading update due on 13th September. The broker expects the consumer electronics retailer to have been impacted by austerity packages imposed in a number of Eurozone countries and forecasts continued like-for-like sales contraction in France. Seymour PIerce also noted that the firm's revenue visibility is declining, with the sales mix switching to lower margin multi-media products. Darty shares fell by 1p to 55.5p. Blue-Chips Ashmore Group (ASHM) reported assets under management of 63.7 billion dollars (39.8 billion pounds) as at 30th June 2012, down by 3.2% from the same time in 2011. During the period, the investment manager launched a number of new funds, including a Japanese retail focused fund and three equity funds, bringing the total number to 136. The company noted that countries such as China and India are becoming less dependant on Europe and the US, with a "progressive shift to a domestic demand-led model" and it believes that its emerging markets funds are an important diversifier in the current economic climate. The shares dropped by 8.7p to 331p. 
Fashion retailer Burberry Group (BRBY) announced year-on-year retail sales growth of 6% for the 10 weeks ended 8th September, entirely attributable to new store openings. The firm added that demand had begun to slow by the end of the period and therefore believes that full year results will be at the lower end of consensus forecasts. In order to maintain short term profitability levels, the group said that its is "tightly managing discretionary costs". Burberry shares crashed by 287p to 1,088p. In order to expand its presence in the luxury retail sector, Hammerson (HMSO) has agreed to buy the Victoria Quarter in Leeds for a consideration of 136 million pounds. The deal is expected to complement the real estate developer's proposals for the Eastgate Quarters, which are adjacent to the purchase. The estate covers 19,500 square metres and contains over 70 stores and two cafes and currently generates annual rental income of 7.2 million pounds. The shares leaked by 4.9p to 458.6p. Mid-Caps IG Group (IGG) reported revenues of 81.5 million pounds in its quarter ended 31st August, down 18% on the prior year's comparable period, with contraction across all regions, although the reasons varied. The spread betting platform provider saw UK turnover fall 21% to 41.1 million pounds, primarily due to a 16% reduction in active clients. Meanwhile, the number of mainland European customer actually increased by 12%, but this was offset by a 28% decline in revenues per client, resulting in a 20% fall in total sales. IG shares climbed by 28.3p to 461.7p. 
Meanwhile, online gambling company Betfair Group (BET) enjoyed revenue growth of 13% in the three months ended 31st July, to 91.6 million pounds, with sports revenue growth of 21% to 72.3 million pounds driven by Euro 2012. The firm also noted that the use of mobile devices for betting increased significantly, with the number of bets rising by 114% and total revenues climbing by 98%. However, like may of its peers, Betfair's poker business struggled, with sales slipping by 4% to 5.1 million pounds, attributing the decline to regulatory factors in Italy and Spain. The firm also announced that its chief financial officer Stephen Morana has decided to step down from his position, having been with the company for 10 years. The shares fell by 8p to 740p. Oxford Instruments (OXIG) reiterated that it is on track to meet its "14 cubed" goal of compound annual revenue growth and return on sales of 14% by the financial year ending March 2014. The high end technology developer expects this to be achieved primarily through organic growth, supported by bolt-on acquisitions. The group's nanotechnology tools business performed well and the company noted good order intakes from its research markets, although there was some weakness from the industrial sector. Shares in Oxford Instruments sank by 60p to 1,305p. Small Caps, AIM and PLUS Summit Corporation* (SUMM) has entered into a technology license agreement with US pharmaceutical group Bristol-Myers Squibb to identify and develop drug candidates across a range of areas. The drug discovery company added that it will receive a 100,000 dollar (62,410 pound) technology access fee and up to 30 million dollars (18.7 million pounds) per product, plus sales royalties. The shares soared by 0.75p to 3.25p. Yesterday, research house GECR set a target price of 15.97p for Summit shares. Read the full report by CLICKING HERE. Recruitment agency and conference organiser RTC Group (RTC) reported a pre-tax profit of 201,000 pounds for the six months ended 30th June, up from a loss of 129,000 in 2011's comparable period, on revenue growth of 43.7% to 20.5 million pounds. The group noted strong expansion in India, with its new subsidiary performing better than expected. The firm added that it has reduced inefficiencies that appeared during the second half of 2011 following rapid volumes increases in Afghanistan. RTC shares jumped by 1p to 8p. Billington Holdings (BILN) reduced its pre-tax loss to 200,000 pounds for the half ended 30th June, from a loss of 555,000 pounds in the first half of 2011, despite revenues slipping by 11.8% to 20.1 million pounds. The structural steel company retained a cash balance of 1.1 million pounds as at 30th June, down from 2.7 million pounds at the same time last year, which it attributed to decrease in trade levels. The group expects margins to remain tight throughout 2012 with some minor improvement in 2013. The shares lost 1p to 49p. 
Shares in Aerte Group (AER) collapsed by 0.23p to 0.36p after the firm warned that its potential distributor in China wants to cancel its order of 3,200 devices, with the environmental technology company noting that it is unlikely to recover payment in the medium term. The company said that it is in discussions with other potential distributors but what these are only at a preliminary stage. In the mean time, the firm will need to raise additional capital, either through debt or an equity placing. California and Kansas focused Sefton Resources (SER) increased oil production by 9% year-on-year to 21,755 barrels in the six months ended 30th June, with revenues rising 13% to 2.28 million dollars (1.42 million pounds). However, investors were disappointed to hear of a 64,000 dollar (29,943 pounds) loss for the period, compared to a profit of 74,000 dollars (46,230) in 2011, as the hydrocarbon explorer's California operations were impacted by rig shortages, overheating systems and tank repairs. The firm also noted plans of raising further funds through debt and equity in order to develop its assets. The shares tumbled by 0.25p to 1.58p. Haverlock Europa (HVE) managed to more than halve its pre-tax losses for the first half of 2012 to 1.2 million pounds, from 2.8 million pounds in 2011's comparable period, and achieved a net profit of 7.3 million pounds including the sale of its print division for an exceptional gain of 8 million pounds. The retail and educational interiors group also significantly reduced its net debt position, from 13.7 million pounds at the end of December to 2.3 million pounds as at 30th June. Haverlock shares advanced by 0.875p to 10.875p. * Summit is a corporate client of Rivington Street Holdings, the ultimate owner of UK-Analyst. | 
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