Ceramic Fuel Cells Share News (CFU)

Disappointing US housing starts data took the wind out of London's sales over the lunchtime session, though the blue-chip FTSE 100 index remains in the blue. Housing starts are seen as one of the vital signs of the US economy and July's figures disappointed, with the annualised number of housing starts sliding to 581,000 units from a revised annual rate of 587,000 in June. Economists had been predicting a July figure of 598,000.On the corporate front, British Land's results have disappointed and cast a shadow over the real estate sector. The property group, which owns the Broadgate development in London's financial district, saw the value of its property portfolio fall to £8.18bn in the first quarter but said the pace of decline has slowed markedly. Land Securities and Liberty International slide in sympathy.Elsewhere in the financial sector HSBC is wanted after positive comment from Goldman Sachs. The US bank reckons that HSBC Finance will stop being a major drag on HSBC's earnings from 2010 onwards, earlier than previously expected. Goldman Sachs has upgraded HSBC from 'neutral' to 'buy' and raised its price target from 580p to 820p.A joint venture including support services firm Carillion has won a 'Building Schools for the Future' contract for Durham. The market has given the thumbs up to James Fisher's acquisition of MB Faber, which provides specialist electrical and engineering services to the nuclear and aerospace industries, for up to £5.25m in cash.Car dealer Pendragon reported sharply lower profits in the six months to June 30 as recession-hit motorists held onto their old cars rather than splashing out on new ones. Respiratory inhaler firm Vectura remains "very confident" about prospects with important drug trials due to start later this year and plenty of cash in the bank.Online video services provider Amino Technologies posted an operating loss compared with a profit the same time a year before as challenging economic conditions continued hit the group. Nightclub owner Luminar can breathe a little easier on news that 95.5% of the shares available through an open offer have been taken up and buyers have been found for the remainder.Chip designer Arc International is recommending a £25.2m cash bid from US semiconductor intellectual property firm Virage Logic.The slump in construction activity hit property repair and maintenance company Rok hard in the first half of 2009, but the company is confident of meeting full year expectations, provided market conditions do not deteriorate further.Australian alternative energy developer Ceramic Fuel Cells revealed widening annual losses after it booked significant impairment charges related to losses on financial investments.US navigation equipment specialist Garmin said any offer it makes for marine electronics group Raymarine is likely to be solely in cash. Yesterday, Raymarine confirmed recent press speculation that it is in potential takeover talks with US navigation equipment specialist Garmin and with other parties.Zambia-based exploration company Kiwara said its follow-up drill programme has significantly extended the size of the strike at the company's mne in Kawako.India-focused oil and gas company Indus Gas has discovered gas on a test drilling of a new well. The Eastern Promise-1 well intersected a gas bearing interval at a depth of around 3,175 to 3,183 metres in the Early Cretaceous Pariwar formation.Trading in the shares of Dominion Petroleum resumed after the Bermuda-based oil and gas explorer announced a $10m cash injection from BlueGold Capital, which now has a 20% stake, and its results for 2008. Shares in Ascent Resources were wanted Tuesday after the oil and gas company said drilling of the PEN-105 well in the Penészlek area of the Nyírség permits in Hungary has reached a depth of 310 metres. It is expected it will reach its primary target depth of 1,500 metres within two weeks.Property and insurance software group Innovation dropped despite saying that full-year pre-tax profit is expected to be within the range of market forecasts.Thirdforce said it has received a revised proposal from management buy-out vehicle LearnVantage. The UK E-learning software group said the proposal may or may not lead to an offer for the entire issued and to be issued share capital of the company.