| From UK-Analyst.com: Friday 4th October 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 Monthly UK car sales reached their highest level in over 5 years in September according to new figures from the Society for Motor Manufacturers and Traders. The figures revealed that 403,136 new cars were registered in the UK last month, representing a 12.1% increase on September 2012 figures. The traditionally strong September sales were boosted by strong private demand as consumer's become more confident on their future economic prospects. It is also thought that a vast array of new financing arrangements helped to boost demand as new deals have enabled buyers to lump repayments together at their convenience. The SMMT's Chief Executive, Mike Hawes, commented, "Robust private demand has played a major role in this growth, with customers attracted by exciting, increasingly fuel-efficient new models which offer savings in the cost of ownership." Over in Asia, the Bank of Japan decided to keep its monetary policy unchanged, arguing that it is encouraged by the impact of its aggressive policy action as it looks to escape a period of deflation. The nation's central bank feels that the world's third largest economy is now in a position to counter any possible economic contraction which could come about as a result of next year's sales tax increase. The show of confidence comes after the Japanese economy has expanded for three successive quarters, as household spending has reacted well to Prime Minister Shinzo Abe's economic policies. Junko Nishioka, Chief Japan Economist at RBS Securities, argued, "I don't think the B.O.J.'s view that the sales tax hike won't derail the recovery is too optimistic. But the 2 percent inflation remains a distant goal." ADVERTISEMENT Films can provide a unique and potentially lucrative investment opportunity. Earn Royalties for 25 years Opportunity to appear in a major film production as an extra or spend the day on set watching the filming A listed cast of Hollywood stars Request our free no obligation film investment brochure CLICK HERE At the London close the Dow Jones was up by 27.21 points at 15,023.69 and the Nasdaq increased by 14.87 points to 3,228.70. In London the FTSE 100 closed up by 4.84 points at 6,453.84 and the FTSE 250 dropped by 13.82 points to 14,839.22 The FTSE All-Share was up by 2.21 points at 3,437.93, while the FTSE AIM Index grew by 1.08 points to 782.26.  Broker Notes Canaccord Genuity stuck with its "hold" recommendation on bookmaker William Hill (WMH) ,cutting its target price from 438p to 425p. The broker notes the firm's recent trading update which blamed a combination of weak retail footfall related to the summer heat wave and a less favourable run of sporting results for a shortfall in profits. However, Canaccord still respects the company and feels that the latest update does not represent a permanent downwards shift in the future fortunes of the group. The shares were down by 5.2p at 407.8p. Westhouse Securities upgraded its "neutral" recommendation to a "buy" stance on oil and gas exploration group Faroe Petroleum (FPM), increasing its target price from 162p to 175p. The broker argues that the shares are trading in line with the value it attributes to the production and development assets, which means any exploration upside from the upcoming six wells is "for free". Westhouse goes on to remind investors that the company is well-funded and operates in geologically promising and politically "safe" geographies. The shares grew by 2p to 122p. Cantor Fitzgerald maintained its "buy" recommendation on iron pellet producer Ferrexpo (FXPO) with a target price of 290p. The broker feels that the highly experienced local and international operational management is serving FXPO very well. Moreover, the broker is particularly encouraged by the company's Ukranian operations and feels that an improvement in the quality and quantity of the firm's iron pellet product as well as reduced operating costs may be on the cards. The shares increased by 2.7p to 175.7p. 
Blue Chips Food and drink supplier Tate and Lyle (TATE) conceded that it now expects first half operating profit to be lower than last year. The firm - which manufactures speciality food and bulk ingredients - attributed this expected shortfall to a weaker soft drink market in the US which, in turn, has adversely impacted sweetener volumes. Over in its food ingredients business however, the company said it delivered strong volume growth in emerging markets and Europe in the first half of the year. The shares swelled by 6p to 745p. Mid Caps Energy services firm Wood Group (WG.) said that it has been trading in line with expectations and is confident of delivering growth over the current year. The Aberdeen- based company reserved special praise for its engineering division, which is currently benefitting from a surge in onshore pipeline work for the US shale industry. A good level of activity in the North Sea is also helping the cause. The update comes after Deutsche Bank last week retained its "buy" recommendation on the company with a target price of 980p. The shares slipped by 3p to 790p. Carpet retailer Carpetright (CPR) admitted the group's full year profit will be "significantly below its previous expectations" as a result of the continued weakening of the UK market and a worsening of marketing conditions over in the Netherlands. The beleaguered flooring specialist went on to reveal that its Chief Executive, Darren Shapland, would be stepping down from his position after just 17 months at the helm, with legendary company founder Lord Harris of Peckham taking the position on a temporary basis. The shares dived by 57p to 616.5p. Engineering services company Serco (SRP) revealed that it has completed the sale of its UK occupational health business in a deal worth 3.5 million pounds. The business in question generated 15 million pounds in revenues during the year ended 31st December, making 1 million pounds in operating profits. Serco argued that the continued growth of this business would be restricted under its leadership due to the "limited synergies" the business had with the other units under Serco's umbrella. The shares were down by 4p at 528.5p. Small Caps Clean fuel company ITM Power (ITM) revealed that it has been given a 1 million pound grant by the Welsh government. The grant has been given to ITM in order to assist with the establishment of hydrogen refuelling infrastructure in Wales. In order to fulfill this ambition, ITM will establish a new Welsh subsidiary and will be involved in projects such as the planned M4 corridor programme and a wider Welsh roll-out. The shares grew by 1.75p to 41.625p. Tube manipulation specialist Tricorn Group (TCN) confirmed that pre-tax profits for the 6 months ended 30th September are likely to come in below expectations. Tricorn blamed weakening market conditions in Europe for its plight, as well as increased investment on its US and Chinese operations. Despite its problems, Tricorn stressed that new business is now beginning to be secured at an increased rate and said that it had plans to increase staff accordingly. The shares fell by 2.5p to 37p. Gold miner Premier Gold Resources (PGR) announced that it has delayed the start of fieldwork operations due to unsafe conditions caused by local gangs, who have threatened its employees in Kyrgyzstan. As a result of this disruption, the company will not be able to carry out work on the licence to establish a maiden gold resource as hoped due to safety concerns. Despite the warning, Sanlam Securities retained its "speculative buy" recommendation on the company and re-instated its 0.29p target price on the shares. The shares slipped by 0.065p to 0.16p. 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 
Oil and gas exploration group Northcote Energy (NCT) revealed plans to drill its first horizontal well targeting the Mississippi Lime formation in Oklahoma by the end of the year. Management argued that this new well had the potential to contribute significantly to its target of 250 barrels per day production by the middle of next year. Northcote went on to re-affirm its intention to sell a stake in the well, with discussions apparently "well advanced" on a deal to sell a 50% stake in the project. The shares were up by 0.025p at 1.25p. Packaging firm API Group (API) claimed that full year results are likely to show an improvement on last year's numbers despite first half trading having been weaker than anticipated. The firm explained that its laminates division has made "good progress" in relation to a new supply contract while its holographic unit has continued to struggle as traditional customers reduce activity. Separately, API made it clear that it is close to finalising new long term credit facilities for the UK businesses, ahead of the scheduled expiry of current arrangements. The shares gained 1p, finishing the day at 73p. 3D technology firm DDD Group (DDD) revealed that Non-Executive Chairman Nicholas Brigstocke has purchased 200,000 shares at an average price of 5.6875 pence per share As a result of these purchases Brigstocke now holds a 1.3% stake in the company, with a total of more than 1.8 million shares. The news comes weeks after the company revealed that it generated a net loss after tax of $1.345 million (0.84 million pounds), down on the marginal profit of $86,000 (53.54 million pounds) it generated last year. The shares increased by 1p to 6.75p. | 
No comments:
Post a Comment