| From UK-Analyst.com: Monday 7th 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 Optimism amongst Britain's banks and other financial firms is at the highest level in almost 17 years according to data from a recent survey. According to the latest quarterly CBI/PwC financial services survey, 59% of UK financial services firms said they felt more optimistic about business prospects in the April-June period compared to just 6% who were less optimistic compared to the second quarter of the year. Consistent with an improved outlook for the UK economy, the data also showed that around 10,000 jobs were added over the period in the financial services sector and this trend is expected to continue. Kevin Burrowes, PwC's UK financial services leader, commented, " Banks' optimism is increasingly buoyant despite seeing a slight seasonal blip in commercial and industrial volumes. Activity and profitability are expected to grow as the economy recovers, and investment in new products and infrastructure is increasing." The World Bank has slashed its growth forecast for the emerging economies of east Asia from 7.8% to 7.1% for 2013. The lending organisation cut its expectations on the back of a slowdown in China and the prospect of the monetary taps in the US being turned off. The downgraded forecast also reflects slower expected rates of expansion in Indonesia, Thailand and Maylasia due to lower global commodity prices, slower exports and reductions in investment. Bert Hofman, Chief Economist for East Asia and the Pacific at the World Bank said, "We are seeing a slowdown in domestic demand, which is a headwind, but at the same time Asia is seeing a tailwind from the revival of the rest of the global economy." At the London close the Dow Jones was down by 94.17 points at 14,978.41 and the Nasdaq slipped by 16.35 points to 3,226.22. In London the FTSE 100 was down by 16.60 points to 6,437.11 and the FTSE 250 dropped by 68.23 points to 14,770.99. The FTSE All-Share was down by 9.84 points to 3428.55 while the FTSE AIM Index fell by 1.52 points to 781.23.  Broker Notes Canaccord Genuity retained its "buy" recommendation on broadcasting technology company Pace (PIC) with a target price of 320p. The broker notes that the shares have fallen by 20% in the last couple of months and feels that this drop is "overdone". Canaccord argues that the market is overly focused on the lack of top line growth in the business and has not factored in the potential for margin increase once Pace has completed the self-help programme which it has embarked on. The shares slipped by 0.2p to 255.9p. Westhouse Research maintained its "buy" recommendation on oil services company Quandrise Fuels (QFI) with a target price of 15p. The broker notes today's results which revealed that the company made a 5 million pounds loss over the year ended 30th June. However, Westhouse is not put off by this and feels that now could be the time to take a punt on the shares given the rate of progress towards commercialisation of its technology. The shares were down by 1.25p to 22.75p. Cantor Fitzgerald stuck with its "buy" recommendation on defence company BAE Systems (BA.) with a target price of 490p. The broker acknowledges investor concerns centred on the US government shutdown but remains adamant that the issue is not of sufficient scale to be a concern yet. On this basis and given that the shares have drifted in recent weeks, Cantor expects the share price to test its target price before the year end. The shares were down by 3.8p to 450p. 
Blue Chips Medical group AstraZeneca (AZN) confirmed that its global biologics research and development division has completed the acquisition of Amplimmune, a US-based cancer therapeutics company, for an initial consideration of $225 million (140 million pounds). This figure could rise to $275 million (171. million pounds) if the acquired business performs well for AstraZeneca. Management argues that the transaction boosts its oncology pipeline by obtaining multiple early-stage assets for its cancer therapy portfolio. The shares crept downwards by 11.5p to 3,170p. Engineering giants Rolls Royce (RR.) confirmed that it has been awarded two contracts worth a combined value of up to $496 million (309.6 million pounds) to support T56 engines on US government aircraft. The five year contract commits Rolls Royce to provide parts, plus field and engineering support, for thousands of T56 engines. Separately, the company said that Japan Airways had ordered 31 Airbus A350 XWB aircraft, which are powered by Rolls-Royce Trent XWB engines. The shares edged up by 4p to 1,119p. Mid Caps Food supplier Cranswick (CWK) claimed that its performance over the 6 months ended 30th September has been strong as it has delivered "strong sales growth" on the back of increased demand for British pork. Cranswick specialises in the supply of pork and said that the meat is benefiting from its "attractiveness, versatility and low relative price". Looking ahead, the firm expects growth on the back of a strong export trade, broadening product portfolio and an increasing demand for pork. The shares dived by 50p to 1096p. Travel firm Thomas Cook (TCG) revealed that it has sold 100% of the Thomas Cook Egypt and Thomas Cook Lebanon businesses in a deal worth around 6.5 million pounds. The businesses will be sold to Bahrain's Yusuf Bin Ahmed Kanoo Holdings and the move is part of the Thomas Cook turnaround programme which has already seen it cut 2,500 jobs and close 195 underperforming outlets in Britain. The update comes after Credit Suisse re-iterated its "outperform" recommendation at the back of end of last month. The shares were down by 2.3p to 148.9p. Diamond Producer Petra Diamonds (PDL) announced that it was able to produce 816,735 carats over the three months ended 30th September, despite recent industrial action at some of its South African mines. Because of this strong production rate, the company is now confident that it will hit its 3 million carat target for the year ended 30th June 2014. The re-assuring update prompted Citigroup to re-iterate its "buy" recommendation and 157p target price on the company. The shares inched up by 2.9p to 119.3p. Small Caps Biology company Physiomics (PYC) revealed that it has signed a contract with a "new specialty pharma customer" to investigate how one of its new candidate drugs shrinks tumours. Under the terms of the deal, Physiomics will attempt to map the possible pathways by which the drug could act. The company hopes that the deal could lead to it being able to offer its other modelling services to this new client as the project progresses. The shares swelled by 0.02p to 0.21p. Financial services company Albemarle & Bond (ABM) confirmed that incoming CEO Chris Gillespie will now join the board 7 October 2013 instead of the previously planned date of 18 October 2013. The company said that the acceleration of his appointment is "in recognition of his energy and enthusiasm to take up the roll". Separately, the firm confirmed that Colin Whipp has been appointed as the group's Chief Restructuring Officer as it looks to turnaround the business. The shares increased by 1.5p to 35.5p. Boiler specialists Sabien Technology (SNT) announced that it has been awarded a contract by Lincolnshire County Council to deploy its Boiler Optimisation Technology into its Estate in a deal worth 2.2 million pounds. The first phase includes 70 schools with related revenues generated in the year ending 30th June 2014 estimated to exceed 500,000 pounds. The deal will be welcomed by investors as work in the public sector is seen as key for the company's growth prospects. The shares were up by 3.5p to 31.5p. 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 
Software provider Fusionex (FXI) praised the progress it had made in recent months and claimed that it has seen increased demand for its products in the Asia-Pacific region. For example the company secured its first client in Hong Kong over the period in a trend which Fusionex expect to continue. Because of this period of relative success, Fusionex believes that full year results will now come in "at least in line with market expectations". The shares were up by 23p to 324.5p. Automation technology group JSJS Designs (JSJS) revealed that it has signed a contract with Megaman UK to be its sole distributor for the UK. JSJS explained that the deal means its UK working capital will be reduced to zero over the course of the next 12 months, as all orders placed by Megaman UK will be paid for in cash in advance of shipment either from the UK or JSJS's Chinese partner factory. The deal is expected to generate cash of up to 650,000 pounds over the next six months as UK stock is transferred to Megaman. The shares grew by 0.07p to 0.29p. Investment firm City of London Investment Group (CLIG) revealed a $0.3 billion (0.19 million pounds) fall in funds under management to $3.4 billion (2.12 million pounds) over the four months ended 30th September. The drop represents a fall of 8% against the MSCI Emerging Markets Index, which fell by 1% over the same period. Despite this slide, the company is encouraged by signs of an uplift in emerging markets and stressed that that run-rate profits should be sufficient to maintain the dividend during the current year. The shares slipped by 6p to 266p. | 
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