From UK-Analyst.com: Monday 17th December 2012
The Markets Japanese shares rose after the Liberal Democratic Party won the country's general elections and Shinzo Abe, the leader of the party, pledged to revive the world's third largest economy. Kyohei Morita, chief economist at Barclays Securities Japan said "The Liberal Democratic Party's big victory is in line with market expectations and it will help keep the yen weak and share prices high, at least for now" In the UK, Prime Minister David Cameron said he wants favours in return for signing a deal aimed at increasing monetary union in the EU. However, the Prime Minister refused for British banks to be monitored by a centralised supervisor and said "We did not stand in the way of the Eurozone having a banking union...now there are opportunities for us to seek changes in our EU relationship, changes that the British people will be more comfortable with". Staying in the EU, the 27 nation block has signed a free trade agreement with Singapore, the second-largest Asian Investor in the EU behind Japan - with trade last year between the two regions worth 60 billion pounds. The deal is expected to ease EU companies' access to Singapore's banking and financial services, as well as its public procurement markets. Syed Kamall, European Parliament's lead negotiator on the free trade agreement said it would be "good for British business and act as a gateway to other dynamic economies in Asia." £2012 GIVEAWAY THIS FRIDAY ON UK-ANALYST! WATCH THIS SPACE FOR MORE DETAILS At the London close the Dow Jones was up by 63.18 points at 13,198.19 and the Nasdaq fell by 12.92 points to 2,641.01. In London the FTSE 100 fell by 9.61 points to 5,912.15; the FTSE 250 finished 25.66 points down at 12,218.58; the FTSE All-Share dropped 7.91 points to 3090.50; and the FTSE AIM Index crept up by 0.60 points to 688.72.  Broker Notes Panmure Gordon maintained a "buy" stance on residential property manger LSL Property Services (LSL) with a target price of 287p. The broker is of the opinion that the firm will continue to outperform the market due to its counter-cyclical business areas and that its cash generative nature should help maintain a healthy financial position. As such Panmure is surprised that the firm trades at a discount to its sector peers on a PNAV rating of 9.1 times and believes this rating is undemanding. The shares slipped by 0.25p to 256p. Canaccord Genuity reiterated its "buy" recommendation on tobacco machinery services company Molins (MLIN), with a target price of 138p. The broker is impressed with the group's Artista subsidiary, especially the considerable work it has captured from smaller cigarette manufacturers and believes this has the potential to significantly boost revenues. The broker also notes that the group is increasing its focus on its UK business, de-emphasising the impact of higher risk markets, and thinks this sets more solid foundations for future growth. The shares remained flat at 136.5p. Shore Capital its "buy" recommendation on 888 Holdings (888) on the back of the firm's decision to rollout new applications for social and mobile gaming. The broker believes that this rollout will drive a robust performance, with growing revenues and margins. The broker is also impressed with the firm's increasing focus on marketing efficiency, with its market share steadily growing in Spain and Italy. The shares dropped by 4.25p to 116p. 
Blue-Chips Engineering giant Rolls-Royce (RR.) has signed a contract with the Finnish Navy to supply water jets to power the new Watercrat M18 AMC high speed fleet. The contract is for 12 boats and will also include a state of the art control system that will enhance the manoeuvring capabilities of the craft. The fees involved in the agreement were not disclosed and the project is due to be completed by mid-2014. The shares were down by 10.5p at 859.5p.. Temporary power provider Aggreko (AGK) reported that expected revenues for the whole of 2012 are 13% up on 2011 at 1.6 billion pounds and that profit is predicted to rise by 12% to 365 million pounds. The principal reason for this improvement is a 10% increase in the amount of capacity on hire, with 100 MW and 74MW new orders in the Ivory Coast and Japan being particular highlights. In its outlook Aggreko acknowledged that there may be weakness in some of its markets next year and notes that the decline of US troops from Afghanistan will lead to a significant reduction in military revenues. The shares plummeted by 461p to 1,664p 
Mid Caps Construction firm Kentz Corporation (KENZ) confirmed it has been awarded three contracts with a combined value of 55 million dollars (34 million pounds) to provide its services in Iraq. Kentz will oversee the development of in-land process facilities and infrastructure to deliver a combined increase in production capacity of approximately 250,000 bpd and 300 million standard cubic feet of gas. The company will provide project management, front end engineering, procurement and installation supervision in the Baghdad and Basra areas. The shares were up by 4.7p at 398.5p. Oxford Instruments (OXIG), the provider of high technology tools and systems for industry and research, announced the acquisition of Asylum Research, a leading provider of scanning probe microscopes. The firm is being acquired for an initial cash free consideration of $32 million (19.77 million pounds), with an extra $48 million (29.7 million dollars) payable dependant on future performance. Asylum Research generated revenues of $6.2 million (3.83 million pounds) in 2011 and Oxford Instruments believes there is significant scope to grow the business. The shares gained 5p to 1,385p. Troubled Egyptian gold miner Centamin (CEY) confirmed that the halt by customs on gold exports has been lifted and that a shipment was made yesterday. Normal operations are expected to resume once payment for this latest shipment has been received and when working capital in the operating company, Sukari Gold Mines, has been replenished. The shares soared by 7.5p to 42.14p. 
Small Caps & AIM Medical testing firm Omega Diagnostics (ODX) announced that its Food Detective product, which tests a person's reaction to 14 common food types, has been formally approved by the State Food and Drug Administration of China. The product will now be distributed by HOB Biotech group under an agreement which will run for 5 years. The company see this as a fantastic opportunity as to tap into the potential of the huge Chinese market. The shares rose by 1.25p to 16.25p. Mirada* (MIRA), the audiovisual content specialist, has entered into a new contract with a Latin American telephone operator to provide an electronic programme guide. The contract is expected to generate over 2 million dollars (1.23 million pounds) in revenues for the company over the next two years and will re-enforce the firm's presence in the fast growing Latin American market. The contract is structured so that Miranda earns set-up fees plus license fees dependant on the number of subscribers signing up to the service, on top of ongoing maintenance fees. The shares climbed by 2p to 13.25p. CCTV suppliers Univision (UVEL) reported a 13% decrease in group revenues to 41 million Hong Kong Dollars (3.3 million pounds) and a drop in pre-tax profits from 3.3 million Hong Kong Dollars (263,000 pounds) to 0.4 million dollars (32,000 pounds) for the 6 months ended 30th September. The drop in revenues was primarily driven by loss of sales from a one-off customer and a 4 million Hong Kong dollar (320,000 pounds) fall in revenues within the group's E&M business. The shares remained flat at 0.5p.
Indian-based power supplier Mytrah Energy (MYT) posted revenues of $30.73 million for the 6 months ended 30th September after only generating $2.27 million last year. Pre-tax profits were $12.23 million (7.55 million pounds), from a loss of 0.7 million dollars (0.43 million pounds). The significant step up in performance came on the back of the addition of revenue generating wind projects in the states of Gujarat and Rajasthan. The company is positive on the outlook as it continues to exploit the long-term structural energy deficit in the country. The shares jumped by 8p to 68p. Total Produce (TOT), the fresh produce company, has agreed to acquire 65% of Grandview Ventures Limited - which trades as the Oppenheimer Group - for a fee not expected to be over 40 million Canadian Dollars (25 million pounds). Headquartered in Vancouver, the Oppenheimer Group is a provider of fresh produce to a base of retail, wholesale and food service customers throughout the whole of Canada. In 2011, the group realised 11 million pounds in operating profits. The shares inched up by 0.01 euros to 0.55 euros. JSJS Designs (JSJS), the home automation specialists, announced the launch of the LightwaveRF.com website, created in order to heighten the awareness of its products to customers. One particular product which has gone on sale on the website is a new boiler and remote heating control system, where the order bank has reached over 100 in just three days. The website also allows independent electricians to promote themselves, which has already proven to be a popular feature. The shares crept up by 0.025p to 0.51p.  * Mirada is a corporate client of Rivington Street holdings, the ultimate owner of this website. | 
No comments:
Post a Comment