| From UK-Analyst.com: Tuesday 3rd September 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 The Organisation for Economic Co-operation and Development (OECD) has increased its forecasts for UK growth in 2013, consistent with recent economic indicators which suggest that the economic climate may be genuinely improving. The OECD upped its 2013 UK growth projection from 0.8% to 1.5% on the back of falling unemployment and a surge in growth in manufacturing output. Looking at things from a global perspective, the OECD went on to warn that, although a moderate recovery is ongoing in a number of world economies, global growth remains sluggish and there are still risks to the upturn. The Paris-based think tank went as far as to say that that the slowdown in emerging economies – which have been major drivers of world growth in recent years – would offset the improvement in more advanced economies. An extract from the OECD's half-yearly overview on global economies read, "In many emerging economies, loss of domestic activity momentum together with the shift in expectations about the course of monetary policy in the United States.. has lead to significant market instability." European employment figures have revealed that the Spanish unemployment rate remained virtually unchanged in August as just 31 more people found themselves in work compared to July. This lack of movement means that the Spanish unemployment rate remained steady at 26.3%, keeping Spain as the second highest in the Eurozone in terms of unemployment and only below Greece where the jobless rate is 27.6%. The figures come after it emerged that Spanish economic output fell by 0.1% in the second quarter of the year, bucking a wider European trend which saw output expand by 0.3% across the Eurozone over the period. Economic Minister Luis de Guindos commented, "There's a stabilization in the jobs market, and I'd say this is a reason for hope. There's a great deal more to do ... but I'd say we've hit bottom. In the second part of this year we'll see slight (economic) growth." Nokia revealed that it has agreed to sell its handset business to Microsoft for a fee of around of $7.2 billion (4.63 billion pounds), two after years Nokia began using Microsoft software on its phones. Nokia was once the premier global handset producer but has long been overtaken by the likes Apple and Samsung as smartphones have risen to prominence in recent years. For Microsoft, the transaction marks an attempt to penetrate a smartphone market in which it has yet to gain significant traction in. Steve Ballmer, current CEO of Microsoft, claimed, "Bringing these great teams together will accelerate Microsoft's share and profits in phones and strengthen the overall opportunities for both Microsoft and our partners across our entire family of devices and services." 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 up by 19.46 points at 14,829.77 and the Nasdaq was us up by 21.16 points at 3,094.97. In London the FTSE 100 down by 37.78 points at 6,468.41 and the FTSE 250 fell by 14.02 points to 14,861.46. The FTSE All-Share was down by 21.38 points at 3,439.16 while the FTSE AIM Index inched up by 1.19 points to 759.02.  Broker Notes Beaufort Securities stuck with its "hold" stance on property firm Berkeley Group Holdings (BKG), after the group yesterday released half-year results which were in line with market expectations. The broker notes the positive tone of the results but feels that planning delays seem to be hampering the overall performance of the company, essentially causing a roadblock in increasing the supply of new homes. On balance, Beaufort feels that the positive forces at play in the UK housing market are already factored into the current share price. The shares were down by 23p to 2,159p. N+1 Singer maintained its "buy" recommendation on football pitch operator Goals Soccer Centres (GOAL), with a target price of 170p. The broker was impressed with the firm's set of interim results which revealed 8% UK EBITDA growth as operational changes fed through to results. Moreover, N+1 Singer feels that, given management initiatives to drive footfall succeed in improving asset utilisation, earnings have meaningful upside given the high operational leverage. The shares were up by 1.5p at 153.5p. Canaccord Genuity upgraded its "hold" recommendation to a "buy" stance on oil and gas producers Faroe Petroleum (FPM), increasing its target price by 30% to 166p. The broker expects the next six months to be very exciting for Faroe and feels that its Novus and two Butch projects have a good chance of commercialisation either through tie-back to other facilities or as standalone developments. The shares fell by 1.5p to 129.5p. 
Blue Chips Insurance firm Old Mutual (OML) has completed the acquisition of a majority stake in Ghana's Provident Life Assurance Company. The deal was finalised after it was given the go-ahead by the Financial Services Board of South Africa and the National Insurance Commission of Ghana. Management argues that the deal was in line with its strategy of expanding in West Africa as it now operates from four cities in Ghana - Accra, Kumasi, Takoradi and Tema. The shares dropped by 1.3p to 182.6p. Asset manger Aberdeen Asset Management (ADN) has been fined 7.2 million pounds by the Financial Conduct Authority (FCA) in relation to breaches of UK client money regulations. The FCA said the asset manager failed to identify and properly protect customer money placed in money market deposits with third party banks between September 2008 and August 2011. Aberdeen Asset Management expressed its regret but was keen to stress that none of its clients suffered from any loss as a result of the rule break. The shares lost 2.5p, finishing the day at 365.5p. Mid Caps Boozer owner Greene King (GNK) announced a 4.6% increase in like-for-like retail sales over the 18 weeks ended 1st September, as good summer weather helped to achieve growth over the previous year which was itself enhanced by the impact of the Jubilee and Euro 2012. Driven by its performance in the south-east of England, Greene King also stressed that its food operations are continuing to go from strength to strength, with like-for -like sales up by 5.7% as an increasing number of customers decided to take holidays in the UK. The shares slid 5.5p to 843p. Vetinary pharmaceutical group Dechra Pharmaceuticals (DPH) saw revenues climb from 440 million pounds to 522.4 million pounds for the year ended 30th June, while pre-tax profits grew from 32.9 million pounds to 44.6 million pounds. The company - which recently moved its headquarters to Cheshire - benefited from the first full year of trading from its Eurovet business ,which was acquired for 114 million pounds back in May 2012. Since the year end, Dechra also received a cash boost as it disposed of its services business for 87.5 million pounds. The shares slipped by 2p to 688p. Packaging firm DS Smith (SMDS) claimed that trading over the three month period ended 31st July was in line with its plans, with the group achieving the desired synergies from the acquisition of SCA Packaging. DS Smith went on to say that its Corrugated volumes have continued to improve, with growth fully in line with its medium term financial target of GDP +1%. Although the group expects some input costs to increase in the short term, DS Smith remains adamant that it will hit its full year financial targets. The shares were down by 2.5p to 267.5p. Small Caps Digital communications firm Next Fifteen Communications (NFC) conceded that adjusted profits for the year ended 31st July will come in "modesty below" the previous year as a result of restructuring and investment in the firm's digital technology. However, Next Fifteen was keen to stress that it performed well in North America after securing contracts with some blue chip clients over the period. On the back of the update, broker Westhouse Securities downgraded its "buy" recommendation to an "add" stance and lowered its target price from 114p to 105p. The shares slipped by 5p to 87p. Oil and gas exploration group Kea Petroleum (KEA) announced that the combined total flow rates at its Puka 1 and Puka 2 wells have stabilised at approximately 200 barrels per day. As a result, the firm now anticipates drilling a third appraisal well, Puka 3, in the first quarter of next year. However, the group admitted that it will not be drilling a well at its Angus prospect as a result of "inadequate seismic quality and a diminished appetite for deep gas plays." The shares plummeted by 1.5p to 2.625p. Shares in mineral exploration group Forte Energy (FTE) have been suspended on the Australian Securities Exchange pending the release of an announcement in relation to the previously outlined acquisition of Leo Mining And Exploration Ltd. The company in question is based on the British Virgin Islands and has a portfolio of interests in uranium and rare earth elements in Africa. Forte argues that any transaction would help to form an entity which would benefit from deeper technical expertise and a Board with experience in developing and building numerous projects. The shares swelled by 0.09p to 0.62p. 
Water treatment specialist Hydro International (HYD) saw its revenues surge by 46.4% to 410,000 pounds for the 6 months ended 30th June as pre-tax profits increased from 0.28 million pounds to 0.41 million pounds. The firm - which secured its first orders in Saudi Arabia over the period - stressed that it remains mindful of the somewhat erratic nature of its UK Wastewater division but insisted that it is in line to meet its full-year expectations. The shares grew by 5p to 500p. Cloud e-commerce marketplace operator @UK* (ATUK), saw its turnover increase by 26% to 1.375 million pounds for the six months ended 30th June, while its pre-tax loss shrunk by 17% to 301,000 pounds. The company praised its link-up with Visa, which according to @UK, has been "transformational" for its business, allowing it to access and support a large number of major customers. In response to the update, Westhouse Securities retained its "buy" recommendation on the group, re-iterating its 50p target price. The shares fell by 6.25p to 29.25p as investors took profits on recent gains. Fresh food provider Total Produce (TOT) declared that revenues surged by 18.8% to 1.7 billion euros (1.1 billion pounds) for the first 6 months of 2013 as adjusted pre-tax profits nudged ahead by 13.7% to 28.2 million euros (18.15 million pounds). Total Produce explained that the uplift in performance was driven by its international expansion as it entered the North American market via the acquisition of a 35% stake in The Oppenheimer group. As a result of its success, the group upped its interim dividend by 7.5% to 0.6095p per share. The shares were up by 3p at 67.5p. * @UK is a corporate client of a subsidiary of Rivington Street Holdings, the ultimate owner of UK-Analyst. | 
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