| The Markets The Eurozone unemployment rate remained at 11.4% in August, but a further 34,000 people were out of work, according to figures from Eurostat. The greatest concern remained in Spain, where unemployment stood at 25.1%. Unemployment amongst the under 25's was also worryingly high, 22.8% across the monetary union and 52.9% in Spain. In the UK, the new minimum wage of 6.19 pounds per hour was introduced for over 21s, up 11p on the previous minimum. However, this was introduced alongside new VAT charges on a number of products, but not on hot foods, following a government U-turn on the so called "pasty tax". Meanwhile, the Manufacturing Purchasing Manager Index came in below expectations at 48.4, against a forecast of 49.3, signifying continued contraction. At the London close the Dow Jones was up by 157.26 points at 13,594.39 and the Nasdaq was up by 18.42 points at 2,817.61. In London the FTSE 100 rose by 78.38 points to 5,820.45; the FTSE 250 finished 133.38 points ahead at 11,867.48; the FTSE All-Share gained 40.12 points to 3,038.98; and the FTSE AIM Index climbed by 1.61 points to 707.37. 
Broker Notes Seymour Pierce retained its "sell" stance on Kingfisher (KGF) with a target price of 240p. The broker said that the new French budget, which includes a 75% tax on earners over 1 million euros (0.8 million pounds) and 45% on earners over 150,000 euros (119,427 euros) is likely to have a significant impact on the DIY and home improvement specialist's sales. Seymour Pierce noted that the country accounts for 50% of the group's total sales believes that the new tax rates will reduce the amount of luxury spending and sale of "big ticket" items. Shares in Kingfisher slipped by 0.2p to 264p.  Amid speculation that Sportingbet (SBT) has rejected a joint takeover bid from William Hill (WMH) and GVC Holdings (GVC) at 52.5p per share, Panmure Gordon reiterated its "buy" recommendation for the online gambling company with a 62p target price. The broker expects the consortium to return with a higher offer if the rumours prove true, but also noted that Sportingbet's advisor Lazard has reportedly been in discussions with other potential buyers. The shares swelled by 2p to 53.5p. Shore Capital maintained its "sell" rating for Matchtech (MTEC) ahead of the recruitment agency's preliminary results release on 4th October. The broker expects the results to be at the lower end of consensus forecasts, suffering from slowing rates in the fourth quarter. Shore believes that the firm is currently supported by temporary placings and said that it will continue to struggle until it sees a return to growth for permanent fee income. However, the broker noted that this could happen in the second half of the 2013 financial year. Matchtech shares were unchanged at 205p. Blue-Chips Xstrata (XTA) has confirmed its approval for Glencore's (GLEN) merger offer of 3.05 new Glencore shares per existing Xstrata share, despite complaints from sovereign wealth fund Qatar Holding. Under the terms of the agreement, Xstrata's chief executive would become the head of the enlarged company for six months before departing the group, then being replaced by Glencore's chief executive Ivan Glasenberg. Shares in Xstrata climbed by 22.5p to 980p, while those of Glencore inched down by 1.1p to 342p. 
British Land (BLND) caused a buzz by announcing that it has sold The Beehive Centre in Cambridge for 109.2 million pounds, giving a net initial yield of 5.25%. The site is a 238,000 square foot shopping centre, which the property developer originally acquired in 1998 and is anchored by a 70,000 square foot Asda store. Other shops include Toys R Us and TK Maxx, and the park is fully let with an average rent of 25 pounds per square foot. The shares gained 6p to 528p. Fellow real estate company Hammerson (HMSO) has also been busy, announcing the sale of its office property at 10 Gresham Street in London for 200 million pounds, which also represents an initial yield of 5.25%. The property was first acquired in August 2010 and the selling price was 5 million pounds greater than its book value as at 30th June 2012. The group added that the disposal will allow it to continue developing its focus on the retail market. Shares in Hammerson advanced by 5.2p to 456.2p. Mid-Caps Trade exhibition organiser ITE Group (ITE) expects to report full year revenues of around 170 million pounds for the year ended 30th September, up 9.7% on 2011's performance. This follows a strong fourth quarter when it hosted 40 events and generated revenues of 27 million pounds. The firm noted that its World Food Moscow show was the largest in its history, with 24,300 square metres of space sold. The company added that it had a net cash position of 12 million pounds as at 26th September. The shares crept down by 1.6p to 204.5p. 
As it looks to get away from the struggling online poker sector, Bwin.party Digital Entertainment (BPTY) has agreed to dispose of its Ongame poker business for up to 25 million euros (19.9 million pounds) on a cash-free, debt-free basis. The group will receive an initial cash payment of 15 million euros (11.9 million pounds) with the balance dependent on regulated online gaming being approved in the US within five years. Shares in Bwin.party edged up by 1p to 104.9p. Small Caps, AIM and PLUS Sound Oil (SOU) has received approval from the Marche regional authorities to recommence production at its Rapagnano gas field in Italy. The hydrocarbons explorer is now awaiting final approval from the Italian Ministry of Economic Development, which it expects to be granted in one month. The site was originally discovered in 1952 and produced 4 billion cubic feet of gas until it was shut down in 2001 due to high levels of water content. The group hopes to extract 1.3 billion cubic feet of gas over 13 years. The shares surged by 0.075p to 0.55p. Clean energy technology developer Acta SPA (ACTA) reported that the first back-up fuel cell power system using its hydrogen generation system has been shipped. The product will be used in a field test by a major Australian telecommunications company and the firm hopes to demonstrate that the device is more cost efficient than a diesel or battery powered alternative. The technology generates its own hydrogen and so delivery of fuel is not required. Shares in Acta jumped by 0.25p to 4.5p. Chinese miner Haohua Energy International has agreed to provide 100 million dollars (61.9 million pounds) of funding to Coal of Africa (CZA) through an equity placing at 25p per share, a 64% premium to the closing price on 28th September. The news comes as the coal miner reported a widening in operating losses to 32.8 million dollars (20.3 million pounds) for the year ended 30th June, from 10.1 million dollars (6.3 million pounds) in 2011. Meanwhile, the firm noted that Exxaro Coal Proprietary has decided not to exercise its option to acquire a 30% stake in the Makhado coking project in South Africa. The shares soared by 2.75p to 18p. 
Shares in Begbies Traynor Group (BEG) declined by 0.75p to 35.5p after the firm warned that it saw a 12% decline in the number of insolvencies during the second quarter of the calendar year, quarter-on-quarter, to 5,065, which is 8% lower than in 2011's comparable period. In order to compensate for the reduced business, the insolvency consultant has continued the restructuring of its business, having spent 1 million pounds since the start of its financial year on 1st May 2012. Hydrocarbons producer Victoria Oil & Gas (VOG) upgraded its reserve estimates at the Logbaba gas field in Cameroon by 50% to 39.1 billion cubic feet of proven reserves and 32.7 bcf of contingent resources. The review was performed by independent specialist ERC Equipoise and the firm will now look to reclassify the contingent resources as proven by performing stimulation and testing on the lower sands. The shares swelled by 0.01p to 2.56p. Pure Wafer (PUR) reported a loss before tax of 0.7 million dollars (0.4 million pounds) for the year ended 30th June, a significant reduction from a loss of 5.1 million dollars (3.2 million pounds) in 2011. The silicon wafer manufacturer achieved record production levels at its sites in Swansea and Prescott while also reducing costs by 9% per unit. The firm noted continued strong trading momentum across all its geographic markets since the year end. The shares leapt by 0.375p to 6.75p. | 
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