| From UK-Analyst.com: Monday 29th July 2013 IMPORTANT: Are your UK-Analyst emails being delayed? Add UK-Analyst@news.t1ps.com to your safe senders/contact list to help resolve the problem The Markets According to new figures from the Bank of England, lending to small and medium sized companies in the UK grew at a record pace in June, in a further indication of the growing levels of business confidence in the UK. The data reveal that lending to small businesses increased by 238 million pounds between May and June, taking the total amount of borrowed funds to 170.4 million pounds for the month. However, although the figures uncover some clear positive trends, the data still shows that the overall borrowing figures are 3.3% down on the same period last year. A spokesman for the Federation of Small Businesses commented: "This is encouraging news but there is still a way to go. Our most recent survey showed 50% of our members are still being refused credit although the benefits of the FLS (Funding for Lending Scheme) are slowly beginning to feed through." UK retail sales increased at the quickest rate in 6 months in July in the latest sign that consumer confidence is returning at large. The Confederation of British Industry's distributive trade survey's sales balance rose from +1 to +17 as orders placed with suppliers rose at the fastest pace since January. It is thought that the summer weather has encouraged the long-suffering UK public to get back on to the high street after appalling weather earlier in the year dampened spending levels. Sales of footwear and clothing drove the improvements as promotions and marketing campaigns seemingly had the desired effect. Richard Lowe, Head of Retail and Wholesale at Barclays, said: "The UK's first heatwave in seven years boosted high street sales, as consumers stocked up on flip-flops and sunscreen. Even more reluctant shoppers were encouraged by sales and promotions." ADVERTISEMENT Get free trading guides from Evil Knievil (How to successfully short stocks), Zak Mir (Top AIM market picks for 2013) and other top financial commentators by CLICKING HERE 
At the London close the Dow Jones was down by 70.05 points to 15,488.78 and the Nasdaq was down by 11.33 points to 3,064.90. In London the FTSE 100 was up by 5.46 points to 6,560.25 and the FTSE 250 grew by 11.83 points to 14,737.40. The FTSE All-Share swelled by 2.93 points to 3,478.11 while the FTSE AIM Index inched up by 2.26 points to 720.65.  Broker Notes N+1 Singer Equity Research maintained its "buy" stance on carpet merchants Carpetright (CPR) with a target price of 710p. The broker feels that the business is improving consistently along with improvements in the housing market. Moreover, N+1 Singer believes that current product initiatives should also bring benefits as Carpetright increases its presence in both flooring and beds, where they are also building awareness through increased marketing. The shares slipped by 0.5p to 651p. Northland Capital stuck with its "buy" stance on mobile handset testers Anite (AIE) with a target price of 170p. The broker notes the small upgrades to EPS revealed in the FY13 results and feels that the investment case remains very much intact. In particular, Northland believes that the barriers to entry into the LTE 4G testing market are considerable and that ; the addressable market is larger than previously thought with all regions now adopting LTE technology. The shares were down by 1.7p to 128p. Panmure Gordon retained its "buy" recommendation on miners Gem Diamonds (GEMD) with a target price of 192p. The broker acknowledges that Gem Diamonds has released a disappointing first half trading statement in which the company has also made a major downward revision to FY2013 guidance. However, Panmure argues that these figures mask a significant quarter on quarter improvement with tonnes processed up 6% and grade up 18% to 1.5cpht. In short, Panmure does not believe the disappointing short term performance alters the long term value proposition. The shares lost the shine, falling by 5.5p to 137p. 
Blue-Chips Banking giant Barclays (BARC) has confirmed that it has been in talks with banking regulator, the Prudential Regulation Authority, on how to best to meet a new leverage ratio requirement. To this end, Barclays is expected to announce a large capital raise tomorrow alongside its full year results - a release which analysts believe will expose a 600 million pounds fall in pre-tax profits on 2012. It is also thought that these results are also likely to highlight an increase in payment protection insurance provisions as well as indicating that further funds will be required to be set aside to deal with interest rate swap mis-selling claims. The shares were down by 11.1p to 309.5p. Safety testing group Intertek (ITRK) announced 9.5% growth in revenues to 1.085 billion pounds for the half year ended 30th June while pre-tax profits edged up by 3.8% to 145.3 million pounds. The group attributed this uplift in numbers to good performances from within its Consumer Goods and Industry and Assurance divisions which helped to offset weaknesses in the European and minerals sectors. As a result of its success, management has decided to hike its interim dividend by 15.4% to 15p per share. The shares dived by 86p to 2,977p. Investment manager Aberdeen Asset Management (ADN) admitted that funds under management have fallen by 1% in the 9 months ended 30th June, citing "volatile global market conditions" as reasons for this slump. However, the group maintained that its wide range of products, especially its emerging market funds, continue to "attract interest from investors". Despite the fall in funds managed, the update has seemed to convince the brokers as Numis, Canaccord Genuity and Espirito Santo Execution Noble all retained their "buy" recommendations. The shares slipped by 5.3p to 402.5p. Mid Caps Insurance specialist Hiscox (HSX) revealed that pre-tax profits for the six months ended 30th June increased by 44% to 180.7 million pounds as gross premiums increased by 12.3% to 1.017.9 billion pounds. Hiscox explained that there has been less catastrophe claims over the period as it has lessened its exposure to policies that could be affected by disasters such as the recent European floods. However, the firm - which specialises in covering the assets of wealthy individuals - said that it remains cautious on the possibility of hurricanes over the next six months. The shares climbed by 32.5p to 643p. Construction specialist Balfour Beatty (BBY) announced that it has been appointed preferred bidder for the Gwynt y Môr wind farm off the coast of Wales. The firm - which recently won a contract to build a roof for the Olympic stadium in Stratford - said that the move was in line with its strategy of "developing its delivery capability in the offshore renewables industry." The 346 million pounds transaction will be undertaken in partnership with Equitix and will make Balfour responsible for the operation and maintenance of the site. The deal is expected to be finalised in the early part of next year and will see Balfour take a 60% ownership in the project. The shares nudged ahead by 4.7p to 248.9p. Ground engineering specialist Keller Group (KLR) announced a 5% increase in revenues to 644.6 million pounds for the first half of 2013 while pre-tax profits surged from 11 million pounds to 26.8 million pounds. The group said that three out of its four primary businesses are "significantly more profitable than in the same period last year" and, consequently, the group expects results for the full year to be at the top end of current market expectations. The shares tumbled by 36p to 1,089p. Small Caps Gardening group William Sinclair (SNCL) conceded that it has not met its forecasted level of revenues for the April-June quarter and admitted that it has "little scope to achieve any further sales recovery in the final quarter". The group also revealed that it has experienced some "processing difficulties" with its SubaFyba fertiliser operations and has subsequently incurred significantly more production costs than originally anticipated. The shares dropped by 23.5p to 126.5p. Technology security specialists Intercede (IGP) claimed that it has won two contracts with "major" telecommunications companies in North America and Europe worth a combined 2 million pounds. The value of the contracts - which commit intercede to providing certain software licences - is "likely to grow significantly in future periods". The agreement is in line with the company's strategy of covering major players in the mobile telecoms industry and should make a material contribution to the current financial year. The shares swelled by 7p to 71.5p. Copper explorer Metminco (MNC) revealed that it has been granted approval to extend the surface area of its Los Calatos deposit in Peru. Under the new approval the site has now been increased from 2,800 hectares to 12,700 hectares as the project is now considered of "Peruvian National Interest". Investec saw the news as encouraging, arguing that the support of the Peruvian government was pivotal for the prospects of the project. The shares soared by 0.39p to 1.48p. Public relations group Porta Communications (PTCM) claimed that trading for the first 6 months of the year has been consistent with original expectations with revenues generated over the period already matching the turnover accumulated in the whole of 2012. Porta claimed that its international businesses have seen a substantial uplift in new business wins driven by the improvement in global market sentiment. The shares gained 0.75p, finishing the day at 8.25p. Drug developer Vernalis (VER) posted a 40% fall in operating losses for the first half of 2013 on the back of a 29% increase in sales to 7.6 million pounds. The company reserved special praise for its CCP-01 drug, a cold- combating medication and said it was hopeful on pending studies which are due to take place this year and next. The firm went on to claim that it will not need any further financial support from existing investors as it has built cash resources of 85.7 million pounds. The shares were up by 1.25p to 22p. Advanced camera manufacturer IndigoVision (IND) warned that pre-tax profits for the year ended July will be down on last year despite an increase in turnover to around 32 million pounds. The group blamed this fall on an increase in overheads as investment in product development and increasing its distribution network has taken its toll. In the long term, however, IndigoVision insists that the investments will ultimately bear fruit. The shares were down by 43.5p to 306.5p. | 
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