Gem Diamonds is making progress as the recent rise in the shares attest, but uncertainties surrounding demand from key emerging markets is a source of uncertainty. On Tuesday the firm reported a sharp jump in production from its only producing mine. Particularly noteworthy was the sharp rise seen in the average value per carat which the company managed to fetch. This rose to 2,533 dollars, well ahead of City estimates. That is thanks to investments carried out by the company in more sophisticated mining equipment. Furthermore, a new mine in Botswana should be commissioned in the second half of this year. Indications on the demand for jewellery in China and India, however, are mixed. Hence the decision by two large Belgian banks to tighten their lending criteria. "Given the uncertainty, there seems no obvious reason to buy," says The Times' Tempus column.The valuation of Globo, the manufacturer of smartphone applications, particularly of the so-called bring-your-own-device (BYOD), looks attractive on the face of it, but the volatility in its share price should give cause for concern. Nevertheless, the market in which it operates should be growing fast. Revenues sped ahead by 57% to €72m last year, while BYOD sales really took off, increasing by 155%. The latter is where the future lies, but the firm faces stiff competition from the likes of IBm and SAP in the market for mobile content, The Times' Tempus says. Nigeria is very important to oil exploration group Afren. The outfit derives almost all its current cash-flow from that sub-Saharan country. Positively, the company announced that its oil production is expected to come in towards the top end of guidance for 2013, buoying its share price. Nonetheless, the low cash-flow multiples on which Afren's shares trade may not be as linked to production levels as one might have thought. The problem, rather, may lie in investors' worries that the Nigerian government will continue to ask for its share of oil pumped to continue rising. In that regard, a recent draft Petroleum Industry Bill has caused consternation amongst some international oil companies. In fact, some might decide to accelerate divestment plans as a result. That is good news for local players like AIM-listed Lekoil, but no premium accrues to the assets of Afren in the country. "Nigeria may be known for its oil, but oil investors prefer not to value Nigeria," says the Financial Times' Lex column. Please note: Digital Look provides a round-up of news, tips and information that is impacting share prices and the market. Digital Look cannot take any responsibility for information provided by third parties. This is for your general information only as not intended to be relied upon by users in making an investment decision or any other decision. Please obtain a copy of the relevant publication and carry out your own research before considering acting on any of this information.AB