| From UK-Analyst.com: Tuesday 29th October 2013 
The Markets UK Lenders gave the go-ahead to the highest number of mortgages in more than half a decade during September as government initiatives fed through to an overall increase in property demand. Mortgage approvals for house purchases rose to almost 67,000 in September from just under 64,000 in August - the highest level since February 2008. However, it must be remembered that this level is still some way off the 90,000 mark which was consistently recorded before the financial crisis. Howard Archer, the Chief UK Economist of IHS Global Insight said, "The marked increase in mortgage approvals in September reported by the Bank of England indicates that housing market activity was already improving markedly, even before the Help to Buy mortgage guarantee scheme came into being." Apple, the world's most valuable company, last night reported fourth quarter profit of $7.5 billion (4.7 billion pounds), implying the first annual earnings decline in 11 years as net profit slipped to $37 billion (23 billion pounds) for the year ended 28th September. Apple sold a total of 33.8 million iPhones in the period, up from the 26.9 million which were sold in the same period last year. However, a fall in computer sales and squeezed margins dragged heavily on profitability. Alex Gauna from JMP Securities said, "It does raise the question, how well is Apple doing really, in China? Apple is a very healthy company but if you look at the last few quarters, and even with the guide, it's not much of a growth company." At the London close the Dow Jones was up by 88.42 points at 15,657.35 and the Nasdaq was up by 0.51 points at 3,383.19. In London the FTSE 100 closed up by 48.91 points at 6,774.73 and the FTSE 250 was up by 106.72 points at 15,535.51. The FTSE All-Share was up by 25.38 points at 3,606.50 while the FTSE AIM Index inched up by 0.59 points to 805.29.  Broker Notes Beaufort Securities stuck with its "buy" recommendation on temporary power provider Aggreko (AGK) after it yesterday released an interim management statement covering trading since the start of July. The broker acknowledges that the company's Power Projects division has performed unspectacularly due to sluggish demand for temporary power in certain markets. However, Beaufort feels that the long-term fundamentals for Aggreko are still strong and therefore sticks with its "buy" stance. The shares were down by 24p at 1,584p. Panmure Gordon initiated coverage on Bargain Booze owner Convivality Retail (CVR) with a target price of 222p. The broker feels that Conviviality Retail is a highly scalable franchise business operating in a niche segment of the growing convenience store market. Furthermore, Panmure argues that the current share price does not reflect the multiple growth opportunities which Convivality benefits from. The shares inched up by 1p to 170p. Shore Capital downgraded its "hold" recommendation to a "sell" stance on Serco Group (SRP) over concerns with current contract investigations with the UK Government. Shore Capital - which had already factored in an impact from the affair in its forecasts - has now increased the magnitude of the costs and new business deferrals further. For the final nail in Serco's coffin, Shore Capital goes on to lambast the company's current dividend yield of just 2%. The shares were down by 4.5p at 552p. ADVERTISEMENT Interested in trading forex? Join us at our free educational seminar on Friday 1st November For more information CLICK HERE Blue Chips Oil giant BP (BP) recorded a profit of $3.7 billion (2.3 billion pounds) for the third quarter of the year, in a result which was well down on the $5 billion (3.11 billion pounds) recorded in the prior-year period. Results however were above the average analyst estimates. Over the three month period production averaged at 3.17 million barrels of oil equivalent per day while Brent crude prices averaged $109.65 a barrel, 23 cents higher than a year earlier. The update comes after Deutsche Bank retained its "buy" recommendation and 500p target price on the shares, which grew by 25.4p to 477.5p. Lloyds Banking Group (LLOY) announced a 136% increase in underlying profits to 4.4 billion pounds for the first 9 months of 2013, mainly due to the combination of improved interest margin and lower costs. The bank - which is 33% owned by the UK government - went on to say that it has set aside a further 750 million pounds as a buffer to pay back more payment protection insurance claims, bringing the total amount which the bank has set aside to 8 billion pounds. The shares fell by 1.61p to 78.01p. Fellow bank Standard Chartered (STAN) claimed that it performed "resiliently" over the July-September quarter, boosted by strong levels of client activity and improving margins. However, the Asia-based bank conceded that it would fail to reach its 10% revenue growth target over the next financial year, partly due to a slump in its corporate banking unit. The update prompted Goldman Sachs to cut its target price from 1,900p to 1,700p, retaining its "neutral" stance in the process. The shares jumped by 9.5p to 1,543.5p. Mid Caps Office space supplier Regus (RGU) reported a 26% increase in third-quarter revenues but warned that investments in new centres would drag down profits. The meeting room provider did reveal that revenue per occupied workstation - an insightful metric in the space rental business - increased by 4.3% to 1,920 pounds over the period. Looking ahead, the company remains confident that its Mature Centres division will deliver a strong result, in line with its expectations. The shares crept upwards by 1p to 205.8p. Transport operator Stagecoach Group (SCG) revealed that overall profitability over the 24 weeks ended 13th October should be "satisfactory", with growth delivered across all of its divisions except for its UK Bus business in London. However, the decline in this business can be attributed to the impact of the Olympic and Paralympic games which were held in the capital last year. Investors will now have to wait until 11th December for the results covering the six months to October. The shares moved upwards by 9p to 343.2p. Gaming software group Playtech (PTEC) revealed that revenues increased by 13% to 90.6 million euros (77.7 million pounds) over the three months ended September, in a performance which was boosted by Casino revenues but held back by adverse currency fluctuations. Management also hinted that this strong performance has continued since the period end, with revenues for the first 27 days of October up by over 12% on the same quarter last year. As a result of this performance, management is now confident in meeting full year expectations. The shares fell by 15p to 745.5p. Small Caps Next Fifteen Communications (NFC) admitted that its profits for 2013 will come in "materially short of market expectations" as a result of audit adjustments that relate to issues in its Bite agency unit. It has also emerged that Finance Director, David Dewhurst, has decided to step down from his role with immediate effect. In the meantime, an interim Finance Director is being recruited while a search for a permanent replacement takes place. The shares slipped by 21.5p to 71.5p. Oil and gas service company Vialogy (VIY) argued that its growth objectives can be best achieved through a "comprehensive restructuring and refocusing of the group". To this end the company has proposed to spin-out its energy services business which should, according to Vialogy, better facilitate funding and the introduction of additional expertise to capitalise on the opportunities presented in the oil and gas sector. The shares plummeted by 0.3p to 0.43p. Oil and gas service company Getech (GTC) saw revenues increase by 24% to 8 million pounds over the year ended 31st July with pre-tax profits jumping by 80% to 2.25 million pounds. The company - which provides geological data for natural resource companies - attributed the improvements to a record level of data sales with demand for its gravity and magnetic data continuing to be very strong. The shares moved upwards by 10.5p to 89p. 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 
Mobile technology specialist Crimson Tide (TIDE) announced that it has extended its contract with Frylite for an additional three years, in an extension which is with around 83,000 euros (75,710 pounds). The deal in question relates to a mobile technology called mpro, a product which Frylite uses to track cooking oil deliveries to clients such as Burger King, KFC and the Hilton. The shares fell by 0.075p to 1.53p. Gold miner Ariana Resources* (AAU) has seen the JORC resource estimates for its Kizilcukur and Ivrindi projects in Turkey increased. The upgraded estimates add 27,600 ounces to the two projects, meaning that Ariana now has a total of 1,565,000 ounces of gold equivalent across all of its projects. The update comes after Equity Research body GECR retained its "buy" recommendation and 3p target price on the company last week. The shares were up by 0.025p to 1.2p. Telecoms group AdEPT Telecom (ADT) confirmed that its pre-tax profits grew by 19.6% to 1.03 million pounds over the 6 months ended 30th September, partly driven by a number of new customers within the public sector. This increased profitability came despite a 7% fall in revenues - a drop which came as a result of the continued pressure on fixed line call volumes and retail price pressure following the regulatory price changes on mobile interconnect rates. The shares were down by 4.5p to 145p. * Ariana Resources is a corporate client of a subsidiary of Rivington Street Holdings, the ultimate owner of UK-Analyst. | 
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