Friday's Stock Market Report from UK-Analyst: featuring Experian, African Barrick Gold and the Weekly Competition

From UK-Analyst.com: Friday 26th October 2012 Competition The UK-Analyst Friday Competition is back! This week's prize is a copy of You Say Tomayto: Contrarian Investing in Bitesize Pieces, by Alastair Mundy (RRP16.99). To enter, send your funniest caption for the picture below to richard.gill@t1ps.com by 9am on Monday morning. The Markets The US economy grew by 2% in the three months ended September, quarter-on-quarter, according to figures from the Commerce Department, comfortably beating consensus forecasts of 1.8%. The organisation noted higher levels of personal consumption, as well as government spending. Meanwhile, gloom continued to reign in Spain, with unemployment rising to a new record of 25% in the third quarter, up from the previous record of 24.6% in the second quarter, while youth unemployment remained unchanged at 52%. The news has led many to criticise the Spanish government's new austerity measures, which feature large spending cuts and tax increases. At the London close the Dow Jones was up by 27.80 points at 13,092.05 and the Nasdaq was up by 3.43 points at 2,654.45. In London the FTSE 100 rose by 1.66 points to 5,806.05; the FTSE 250 finished 52.45 points down at 11,919.70; the FTSE All-Share gained 1.38 points to 3,037.27; and the FTSE AIM Index declined by 2.60 points to 698.97. Broker Notes Shore Capital reiterated its "buy" recommendation on C&C Group (CCR) following interim results which showed an improvement of the group's operating margins, despite challenging market conditions. Unlike Canaccord Genuity, which has a "sell" stance for the cider brewer, Shore approves of the firm's purchase of Vermont Hard Cider Group for a total of 305 million dollars (189.3 million pounds). The broker believes that this acquisition will give C&C a platform to expand internationally, particularly into the US. The shares dropped by 0.05 euros to 3.78 euros. Panmure Gordon  maintained its "buy" stance on Micro Focus International (MCRO) with a target price of 620p. The broker highlighted an undemanding prospective earnings multiple of 11 times for the 2013 financial year and forecasts a dividend yield of 12.7%, due to the firm's "return of value" share scheme. Panmure also noted strong demand for the software developer's technology, particularly in Asia-Pacific, with a recent BMC survey stating that 90% of respondents consider mainframes a key investment. The shares slipped down 0.65p to 562p. Seymour Pierce retained its "buy" recommendation for Tethys Petroleum (TPL) with a target price of 72p after the company agreed in principle to farm out its 85% interest in Bokhtar PSC in Tajikistan to an "international oil company". The broker said that the area in question is a highly prospective region which has existing oil and gas discoveries. Seymour Pierce believes that the new partner will bring additional technical and financial resources to the table. The shares jumped by 1.875p to 33.75p. Blue-Chips Experian (EXPN) has completed the sale of its price comparison business Price grabber, along with its lead generation activities LowerMyBills and ClassesUSA, for a total sum of 80 million dollars (49.5 million pounds). The consideration will be satisfied through a cash payment of 2 million dollars cash (1.25 million pounds) and a loan note of 78 million dollars (48.4 million pounds). The credit checker will receive a further payment of up to 30 million dollars (18.6 million pounds) based on the performance of the sold assets. The shares dropped 11p to 1,065p. Mining giant Anglo American (AAL) announced that its chief executive Cynthia Carroll has resigned from her position, having joining the company in 2007. The news comes following speculation that the the group had put considerable pressure on her due to strikes that have plagued the company's South African operations. Shares in Anglo American rose by 76p to 1,933p. Mid-Caps Elementis (ELM) reported mixed results for the quarter ended 30th September 2012, with 32% growth in coatings sales in Latin America, but a 23% fall in demand from the oil field drilling sector in North America, which accounted for 15% of the speciality chemical group's sales, year-to-date. The company pointed to a reduction in demand reflecting a late start to the Canadian drilling season and a slowdown in North American shale drilling. Inventory changes in major oil businesses were also attributed to the decrease in sales. The shares fell 12.1p to 204.9p. Work wear provider Berendsen (BRSN) announced a 3% rise in revenues in its core business, excluding the impact of currency, which contributed to a 2% growth in revenues overall for the third quarter ended 30th September 2012. However, adverse currency movements resulted in total revenues falling by 2%. The firm noted a particularly good performance from its higher margin Facility division which continued to grow at a quicker rate than the rest of the business. The shares decreased by 10p to 565p. African Barrick Gold (ABG) revealed revenues of 265 million dollars (164.5 million pounds) for the 3 months ended 30th September 2012, which represented a 25% decrease on last year's comparable period. The company has been forced to slash its production estimates after a turbulent third quarter which saw gold production fall by 19% to 147,786 ounces. Chief executive Greg Hawkins said that full year production levels will be "5-10% below the bottom of our previous range of 675,000 - 725,000 ounces of gold". The shares tumbled by 16.5p to 465p. Small Caps, AIM and PLUS Neos Resources (NEOS) reported revenues of 0.9 million pounds for the 18 month period ended 30th June 2012, compared to just 0.1 million pounds for the 12 months ended 31st December 2010. However, the company also announced operating losses of 3.7 million pounds, a rise from 3.3 million pounds. During the period, the non-edible oil seed producer closed its operations in Indonesia and Zambia and disposed of its science and technology business. The shares dropped by 0.02p to 0.51p Creative advertising company Mediazest (MDZ) has secured a number of new contracts worth a combined 800,000 pounds, with payment expected in the next nine months. The orders come from both new and existing clients in the hospitality, education and retail sectors. The firm is now looking to expand its presence in the US, in order to diversify its revenue base away from the weak European economic climate. The shares rose by 0.025p to 0.16p. Pinnacle Technology Group (PINN) announced that it successfully tested its new high speed broadband technology using a sample of 15,000 people in the Cheltenham area. The trial delivered speeds of up to 100Mbs over a radius of 6 kilometres. If the plans are authorised then businesses and homes across the area will be able to take advantage of the many improvements this service will offer, including better IT security for businesses. The shares crept up 0.001p to 0.371p. Enegi Oil (ENEG) confirmed that it has secured two North Sea licences which will allow the company to break into United Kingdom Continental Shelf for the first time. The hydrocarbon explorer noted that each licence has reduced risk attached as previous exploration and appraisal work has taken place. Additionally, the company believes that the buoy technology it is developing with ABTechnology has the potential to reduce capital and operational costs. The shares remained flat at 12.5p. Shares in Pathfinder Minerals (PFP) sank by 0.15p to 1.825p after the firm announced that the Maputo Court hearing in Mozabique, relating to its 99.99% holding in Companhia Mineira de Naburi, has been postponed until 6th December. However, the firm noted that its subsidiary IM Minerals has been awarded an interdict which it had sought. This interdict will overturn the decision to remove the company's board appointees. However, the final determination of issues is still subject to a full trial. Regency Mines (RGM), the mining exploration and mineral investment company with interests in Nickel and other minerals in Australia, has agreed to sell 80% of the rights to the Fraser West Project to RAM Resources for a consideration of 1.5 million Australian dollars (0.93 million pounds). The sum will be satisfied through the issue of 1,205,000,000 shares at price of 0.0015 Australian dollars (0.09p) per share. The project consists of three sites over a 271 sq km area and was sold to fund exploration in other locations. The shares increased 0.06p to 0.98p.

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