Monday's Stock Market Report from UK-Analyst: featuring Anite, Stagecoach and Fox Marble

From UK-Analyst.com: Monday 3rd December 2012 Competition Congratulations to Rob Iszard whose caption (below) has been voted the funniest and has won the UK-Analyst Friday competition. Watch out for another contest at the end of the week. "I thought that was Paul Tucker’s hand on my shoulder for a moment!" The Markets In the UK, lending to households and businesses increased slightly in the third quarter as the new funding for lending scheme - which allows banks to borrow more as they increase their own lending levels - took effect. Banks took up 4.4 billion pounds from the Bank of England under the new scheme, taking their total net lending up by 496 million pounds compared to the same period last year. However, Paul Fisher, executive director for markets at the Bank of England said "it is too early to use this data as a reliable indication of the impact of the funding for lending scheme on lending volumes". In the US, the treasury secretary Timothy Geithner said that Republicans will have to accept a tax increase on the wealthiest Americans if there is to be any deal to avert a "fiscal cliff". However, this stance has much opposition and house speaker John Boehner said that asking the top 2% of US taxpayers to pay more would deal a "crippling blow" to the already weak economy. At the London close the Dow Jones was down by 32.29 points at 12,993.29 and the Nasdaq was up 2.53 points at 2,680.41. In London the FTSE 100 increased by 4.42 points to 5,871.24; the FTSE 250 finished 6.78 points down at 12027.44; the FTSE All-Share gained 4.08 points to 3069.17; and the FTSE AIM Index slipped downwards by 1.96 points to 690.88. Broker Notes Seymour Pierce reiterated its "buy" stance on Rambler Metals and Mining (RMM) with a target price of 64p. This comes after the company announced it has completed its first shipment of copper concentrate on time, it shipping 8,873 wet metric tonnes of concentrate from its Goodyear Cove Site in Canada. The broker was impressed with how the company undertook the whole production cycle and is now positive about Rambler's capability to repay the credit facility it received in late 2011. The shares gained 0.5p to 36.75p. Panmure Gordon maintained its "buy" stance on Anite (AIE), the travel software company, with a target price of 139p. The broker is impressed with Anite's improving balance sheet and believes that its travel business is showing good signs of recovery. In Anite's other division, wireless communications, the broker envisages the new 4G network as being a key driver in Anite's future performance despite low visibility in revenues. The shares fell by 2.1p to 137.5p. N+1 Singer re-issued its "buy" recommendation on payments provider Paypoint (PAY) with a target price of 875p. The broker was dazzled by the firm's 16% year on year rise in pre-tax profits and is impressed by the company's "healthy" balance sheet, which boasts 31 million pounds of net cash. The broker goes on to state its belief on how the diverse nature of the business should bode well for the future in terms of share price, even if the shares pause for breath after the recent upward rally. The shares were down by 4.5p at 835p. Blue-Chips Precious metals giant Polymetal International (POLY) confirmed that the estimated mineral resource at its Albazino project in the Khabarovsk territory of Russia has more than doubled. Initial estimates on 1st January this year predicted resources at the site to be a total of 2.8 million ounces of gold. However, studies conducted up to 1st August suggest an in situ resource of 5.7 million ounces of the precious metal. What's more, active exploration at Albazino is ongoing, with further resource potential identified. In-fill underground drilling in H1 2013 is expected to lead to a substantial upgrade of inferred resources. The shares slipped by 1p to 1,061p. Mid Caps Telecoms firm Cable and Wireless Communications (CWC) has agreed to sell interests in its Monaco & Islands division as it looks to scale back its geographic reach and focus on its core businesses. The firm is selling the assets to Beleteco Group, a Bahraini Telecoms company, for 680 million dollars (424 million pounds). The proceeds from the sale, which involved operations in the Maldives, Channel Islands, the Seychelles and around a 10% stake in Monaco Telecom, will be used to reduce borrowings. The shares climbed by 0.4p to 35.1p. Public transport operator Stagecoach (SGC) announced that subsidiary, Greater Manchester Bus Limited, has completed the 12 million pound acquisition of the Wigan bus business and assets from First Manchester Limited. The Wigan bus business operates commercial bus services, as well as a number of school bus contracts, and recorded an operating profit of 1.5 million pounds in the 12 months ended 31st March 2012. Ahead of Stagecoach's interim results on Wednesday the shares decreased by 1.6p to 290.9p, Property regeneration specialist St. Mowden Properties (SMP) revealed that expectations for the full year remain unchanged as the company has performed well across all divisions. The property developer, which owns the Elephant & Castle shopping centre in South East London, expects to deliver profits for the year ended 30th November which are ahead of 2011. This positive news comes after the company increased its focus on the residential market, which has seen "good sales rates". The shares were up by 1.2p to 219p. Small Caps & AIM Shares in Fox Marble (FOX) plummeted by 3.375p to 16p after the firm announced that the Independent Commission for Mines and Minerals in Kosovo has annulled four of the company's five mining licences, requiring the suspension of operations at those sites. The company said that it believes the notices have been issued unlawfully and erroneously, with the firm's Kosovan legal counsel saying that the notices are unlawful and unenforceable. Fox Marble, which only listed on AIM in August, is taking legal action and is confident that its licences will be restored to full operational status in due course. The fifth licence, relating to the company's quarry in Rahovec, remains operational and marble is currently being extracted. Green energy company Bglobal (BGBL) released a trading update which confirmed that volumes of its "smart meters", its main revenue stream, did not improve in the 6 months to 30th September. As a result, the firm generated an operating loss for the period. Bglobal was keen to stress that it has made a positive start to the second half of the financial year and that it has been chosen as Dual Energy's preferred smart meter partner, implying increased installation volumes. The shares lost 2.5p to 11.375p. Renewable energy company Kedco (KED) announced a 70% reduction in pre-tax losses to 1.6 million euros (1.3 million pounds) for the full year ended 30th June, driven by an increase in revenues and a drop in administrative costs. The increase in revenues was boosted by the commencement of electricity generation at the 4MW Newry biomass project in Northern Ireland. Another significant highlight of the period was the reduction of debt by 10.4 million euros (8.45 million pounds) after the conversion of debt to equity. The shares increased by 0.025p to 1.03p. Quindell Portfolio* (QPP), the outsourcing business, has converted a number of previously announced outsourcing/partnership pilots. The 3-5 year contracts with undisclosed parties are expected to return a combined total of 80 million pounds per year in revenues once up and running in 2013. The firm also reported that other prospective projects, representing a total of 100 million pounds in potential revenues, are "progressing positively". The terms of these contracts are such that the agreements remain cash positive on the majority of transactions for Quindell, so the company will not have to use a significant proportion of the 80 million pounds of additional funding recently procured. The shares were down by 0.25p at 17.25p. Multi-currency payment business Planet Payment (PPT) revealed that its iPay Payment Gateway will now be available on Magneto, an open source eCommerce platform. The advantage of this product is that it allows merchants to target international markets by enabling customers to view pricing and pay in their own currencies, while merchants still get paid in their own. Last week broker Canaccord Genuity reiterated its "buy" stance on Planet Payment, with a target price of 200p. The shares remained flat at 182.5p. Engineering company Elektron (EKT) has launched a new macular pigment screener which can quickly identify those most at risk of developing age-related macular degeneration (AMD). AMD is an eye condition which affects the back of the eye, causing a deterioration in vision. There are currently 11 million known sufferers of the condition in the US alone, giving significant market potential for the product. The shares grew by 0.5p to 17.5p.

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