| From UK-Analyst.com: Wednesday 21st August 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 Output from the UK's manufacturing sector increased to its highest level in two years according to a survey from the Confederation of British Industry (CBI). The group's quarterly survey on the steadily improving sector revealed that 37% of firms surveyed are currently experiencing rising output, while only 21% of companies reported falling output. The resulting balance of +16%, was the strongest since August 2011. The news will be especially well received by the government, as the coalition bids to shift the emphasis of the economy away from debt-fuelled consumption towards exports. Stephen Gifford, the CBI's Director of Economics, refused to get carried away with the promising numbers and said, "UK manufacturers seem to be experiencing a build-up in momentum, but risks in the global economy still mean that it won't be plain-sailing for some time to come." Staying in the UK, trade body Oil and Gas UK said that it now expects UK oil and gas output to fall to between 1.2 million and 1.4 million barrels of oil equivalent per day (boepd) by the end of this year, down from the 1.54 million boepd which was produced in 2012. The trade body cited factors such as deteriorating reliability, extended maintenance shutdowns and several major production outages for its projection of a fall in output. The figures do not bode well for a UK industry which has seen production plummet from 4 million beopd back in 2003. Malcolm Webb, Chief Executive of Oil and Gas UK, said, "There is much more that needs to be done. Despite impressive investment in new developments, the production efficiency of existing assets has been in worrying decline, with a number of fields failing to produce as expected." ADVERTISEMENT 
Fracking - fear or the future? Click here to download your complimentary report now. Losses can exceed deposits At the London close the Dow Jones was down by 55.01 points at 14,947.98 and the Nasdaq grew by 0.71 points to 3,082.88. In London the FTSE 100 was down by 62.62 points at 6,390.84 and the FTSE 250 fell by 31.02 points to 14,743.05. The FTSE All-Share was down by 28.5 points at 3,404.35 while the FTSE AIM Index dropped by 28.5 points to to 3404.35.  Broker Notes N+1 Singer stuck with its "buy" recommendation on kitchen appliance manufacturer AGA Rangemaster (AGA) with a target price of 135p. The broker feels that today's trading update is positive and indicates that that the tides are turning positively for AGA. Moreover, N+1 Singer goes on to argue that the firm is well placed to prosper given the evidence of recovering consumer confidence and increasing housing activity in the run up to the peak season, especially in North America. The shares grew by 10.5p to 114.25p. Beaufort Securities stuck with its "hold" recommendation on housebuilder Persimmon (PSN) after the company released its interim results yesterday. Beaufort acknowledges the positive forces which are currently benefitting Persimmon, such as an improving macro-economic climate and government initiatives, including the Help to Buy Scheme. However, as the shares have already risen by 30% in the past 6 months, the broker feels that these positives are already factored in the current price of the stock. The shares slipped by 8p to 1,142p. Numis maintained its "buy" recommendation on engineering services group Renew Holdings (RNWH), increasing its target price to 48p. The broker notes the firm announced a disposal of land assets which means that Renew moves to a net cash position after receiving 11 million pounds from the transaction. Coming so soon after the acquisition of Lewis Civil Engineering, Numis believes that the move puts the group in a strong position to continue to self-fund acquisitions alongside its attractive organic growth profile. The shares swelled by 10.5p to 129.5p. ADVERTISEMENT Is Evil Knievil long or short of Sefton Resources? CLICK HERE to find out 
Blue-Chips Lloyds Banking Group (LLOY) has agreed to sell its German life insurance business, Heidelberger Lebensversicherung AG, for approximately 250 million pounds. The business - which is a specialist provider of unit-linked pension investment and life assurance products in Germany - will be sold to a joint-venture company owned by Cinven Partners LLP and Hannover Rück SE. Lloyds explained that the transaction is consistent with its plans to "rationalise its international presence". Separately, the banking group revealed that it intends to sell a portfolio of leveraged loans to ELQ Investors II Limited, a wholly owned subsidiary of Goldman Sachs Group, Inc., for a cash consideration of 254 million pounds. The update comes after Espirito Santo Execution Noble retained its "sell" stance and 59p target price on the company on Monday. The shares inched up by 0.06p to 73.86p. Mid Caps Gold miner African Barrick Gold (ABG) revealed that Bradley A. Gordon has been appointed to succeed Greg Hawkins as group CEO. Mr Gordon - whose appointment takes immediate effect - has 30 years of experience in the gold mining industry and will be tasked with reducing costs and optimising mine plans. The Tanzania-focused group will be hoping that Bradley can lead the group away from struggling times as falling gold prices have compounded troubles at the firm which has also had to contend with illegal mining and power generation problems of late. The shares were down by 0.6p to 155.3p. Pharmaceutical group Hikma Pharmaceuticals (HIK) predicts full year revenues to increase by 20% after seeing strong demand for its doxycycline product over the first 6 months of the year - a medication which is used to treat a range of conditions such as acne and other viral infections. Hikma said profit before tax rose to $111.6 million (64.2 million pounds) in the six months ended June, up from $57.8 million (36.84 million pounds) a year earlier. As a result of its success, management has increased the dividend to 7 cents per share, up from 6 cents in the first half of 2012 as well as issuing a special dividend of 3 cents per share in a reflection of "the exceptional performance of the Generics business." The shares edged up by 5p to 1,095p. Investment trust Murray International (MYI) conceded that its 9.3% increase in NAV over the first half of the year was behind its 12.4% target, while a 9% increase in share price over the period saw the trust's premium narrow over the period. Management explained that this shortfall came about partly as a result of its exposure to Brazil, which saw a negative performance in terms of both asset allocation and currency. The shares fell by 16p to 1,087p. Small Caps Visual technology firm Seeing Machines (SEE) announced a 63% increase in total revenues to A$12.7 million (7.3 million pounds) for the first half of 2013, while gross profit increased by 74% to A$7.5 million (4.3 million pounds). The firm attributed this improvement in performance to a change in product mix and the introduction of selling consulting services. Looking ahead, the company claims it has built up a "significant" backlog of firm orders from both new customers and upgrades from existing customers. The shares jumped by 1.35p to 4.125p. Energy technology company Pressure Technologies (PRES) confirmed that its alternative energy division has secured two orders to supply biogas upgrades and ancillary equipment with a combined sales value of 4.6 million pounds. The equipment in question is capable of processing up to 2,000 cubic metres of biogas per hour and will be used to convert raw biogass produced by waste into gas which can be piped into properties around the UK. The shares swelled by 25p to 290p. Chemical technology firm Symphony Environmental Technologies (SYM) revealed that it has signed a five-year supply and marketing agreement with Janssen Pharmaceutical, a division of Johnson & Johnson. The technology in question aims at increasing the shelf-life of bread and cheese, with the potential to do the same for fruit, vegetables poultry, meat and fish. The financial details of the arrangement were not disclosed to the market. The shares. The shares grew by 1.25p to 6.125p. 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 
In its second update this week, scooter manufacturer Vmoto (VMT) posted an after tax profit of A$40,000 (23,000 pounds) for July, down from its maiden profit A$80,000 (46,000 pounds) in June. This downfall in profits was attributed to the one off costs related to opening its third retail store in China - a development which was the subject of the group's first announcement this week. More excitingly, Vmoto went on to say that it has been approached by "a number of parties" operating in the electric vehicle sector for collaborations or joint ventures. The shares motored upwards by 0.2p to 1.5p. Mineral explorer Rare Earth Minerals (REM) announced that significant lithium values were intersected in the two targeted areas within its Fleur-El Sauz lithium project in northern Mexico. The ten hole programme demonstrated a four kilometre strike length. The significant intervals, defined as having more than 1,000 parts per million lithium, averaged 18.27 metres and 27.62 metres in "true thickness" for the upper and lower clays respectively. As a result of the success, a maiden resource estimate is now being prepared with results expected in the next several weeks. The shares soared by 0.19p to 0.37p. Packaging firm Robinson (RBN) announced a 14% increase in revenues for the first half of the year, while pre-tax profits surged from 0.6 million pounds to 2.2 million pounds. The increase was boosted by an increase in contracts which offset the continued softness in demand for the firm's premium branded products. Although Robinson expects market conditions for the rest of the year to remain at subdued levels, the firm insists that recent new contracts help to " show progress in profitability over the second half of the year." The shares were up by 9p to 162.5p. | 
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