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British Sky Broadcasting Group: Morgan Stanley moves target price from 827p to 860p, while maintaining an equal-weight rating.

Brewin Dolphin: Numis ups target price from 188p to 195p leaving its hold rating unaltered.

Babcock: Investec raises target price from 1000p to 1070p, while leaving its hold recommendation unchanged.

ARM Holdings: Espirito Santo revises target price from 700p to 850p and retains a buy recommendation.

Antofagasta: Credit Suisse reduces target price from 1300p to 1150p and downgrades to underperform. Deutsche Bank cuts target price from 1335p to 1260p, while leaving its hold recommendation unaltered.

Amino Technologies: Northland Capital raises target price from 85p to 90p keeping a buy recommendation.

Positive Points: Both management comments and guidance for the current financial year proved reassuring. The group's progressive dividend policy remains attractive to investors in a low interest rate environment. The company is targeting annual dividend increases above RPI inflation in 2013/14 and beyond. The group's diversified business model is designed to help it to withstand difficult trading conditions. SSE has been rumoured to be a potential acquisition target. SSE supplies electricity and gas to over 9 million customers.

Negative Points: The current CEO recently announced that he is to step down in the summer. The change raises nerves with regards to group management going forward. The Energy Bill is having an impact on future investment, SSE said. Due to uncertainty over electricity market reform, the company is delaying decisions such as that on a planned 470MW combined cycle gas turbine at Abernedd. It does not expect to determine the plant's fate until the second half of 2013 at the earliest. The number of Retail electricity and gas customer accounts in markets in Great Britain and Ireland fell from 9.55 million to 9.46 million. The group is exposed to movements in commodity prices and evolving energy markets. The energy company operates in a highly regulated environment.

Financial Highlights: Management expects to deliver an increase of at least 2% more than RPI inflation in the full-year dividend and an increase of around 4% to 5% (nominal) in adjusted profit before tax for the current full y

Nine month trading update: The announcement broadly reassured investors, with the share price up around 1% in early morning trading. The colder weather played its part - both average electricity and gas consumption for its Retail business rose. The group's investment programme remained ongoing, with management now forecasting total capital and investment expenditure of just over £1.5 billion for 2012/13 as a whole. The board's accompanying guidance for the full year aided, noted that "SSE is on course to deliver an increase in the dividend per share and an increase in adjusted profit before tax for the financial year to 31 March 2013." In addition, the CEO commented that "SSE's balanced model of market-based and economically-regulated businesses and strategy of focusing on operations and investments in these businesses is again proving to be robust. The overall performance of the company has been good in 2012/13." In all, whilst the ongoing uncertainty with regard to electricity market reform overhangs, the company's progressive dividend policy remains attractive in the current low interest rate environment

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Positive Points: The group's total subscription product base reached 29.5 million, up 10% year on year. The proportion of Sky customers with fully-connected HD set-top boxes continues to grow. Just under half a million boxes (460,000) were activated in the quarter, taking the total number of connected boxes to 1.7 million. Management expects to maintain good growth in this area in 2013. Accompanying management comments noted that "the business is in good shape to continue to deliver for customers and shareholders." The broadcaster intends to spend £30 million over coming months on the launch of Now TV, its new internet television service. A progressive dividend policy continues to be pursued. The interim dividend was increased by 20% to 11.0 pence.

Negative Points: Competition across the industry remains intense. Sky's TV sales face growing competition from the likes of Netflix, which allows customers to pay to download movies, and Amazon's Lovefilm download and rental business. Accompanying management comments noted that "we expect the consumer environment in 2013 to remain challenging." Group programming costs increased by £113 million (10%) to £1.22 billion, although this was in line with management expectations. Concerns were previously expressed that the broadcaster had overpaid during the last Premier League broadcast rights auction. The group agreed to pay £2.3 billion for the right to broadcast 116 matches over three seasons starting in 2013-14, £700 million more than it is paying for its current 115 match deal. The consumer environment continues to be challenging with government spending cuts and tax increases now being implemented.

Financial Highlights: Revenues for the half-year rose by 5% to £3.53 billion. Adjusted operating profit increased by 8% to £647 million. The half year or interim dividend rose by 20% to 11.0 pence.

Half year results: The announcement again saw the company reporting progress, with the group's share price rising by over 2% in opening trade. A total subscription product base of 29.5 million was reported, up 10% year over year, with ARPU or Average Revenue Per User of £568 reported, up £24 compared to last year. Sky Sports continued to play a major part in the group's success, with management highlighting a standout performance - record audiences for the Ryder Cup and US Open tennis, along with over 9 million viewers for its first season of Sky Sports F1 (Formula One) channel. Furthermore, the group is now looking to offer its sports channels on its new online service called Now TV in the next few months. Viewers, who do not need to sign up to a contract, will be able to pay £9.99 to watch all six Sky Sports channels for 24 hours.

Positive Points: In outlook commentary, Peter Voser, Shell's CEO, said: "With the first year of our 2012-15 growth targets completed, Shell is on track for plans we set out in early 2012, despite headwinds last year." Shell benefited from an improved performance in its refining and marketing division. Adjusted profit in the downstream business was $1.2 billion, compared with a loss of $278 million a year ago. Production increased by 3.3% to 3.41 million barrels of oil or natural gas equivalents per day, as increases at young projects in Qatar and Australia offset declines at existing fields. Shell said it has 30 new projects under construction that will increase its oil and gas production to 4 million barrels of oil equivalent a day by 2017 or 2018. The dividend yield remains attractive in a low interest rate environment.

Negative Points: The group continues to see significant oil price volatility as a result of economic and political developments. Group earnings, on a current cost of supplies (CCS) basis, were $7.3 billion compared with $6.5 billion in the same quarter a year ago. Governments across the world continue to try to advance their share of the profits, whilst elements of the group's production (oil sands) generate higher costs than more traditional sources. Earlier this week, a Dutch court ruled that Royal Dutch Shell’s Nigerian subsidiary was responsible for a case of oil pollution in the Niger Delta. The company's operating activities can be severely disrupted by the effects of natural disasters or industrial accidents. Changing political forces can affect Shell's pace of development activity in any country in which it operates. The company has interests in a number of Middle Eastern countries.

Financial Highlights: Shell reported a profit of $5.6 billion in the fourth quarter, a 15% rise on the $4.8 billion it made a year ago, buoyed by a much stronger performance in its refining division. Cash flow from operating activities was $9.9 billion in the fourth quarter 2012 and $46.1 billion for the full year. A quarterly dividend of $0.43 per share has been declared, a 4.7% increase year-on-year.

Fourth Quarter & Full Year results: Today's numbers have failed to inspire against the backdrop of a generally lacklustre market. There are certainly positives within the statement. Refining margins improved in the last quarter, the company's increased investment is part of a long-term strategy, and the accompanying management comments were upbeat on future prospects. This was reflected by further hiking the dividend, where the yield is already a healthy 4.5%, a clear attraction to income seeking investors. However, the overall profit number was shy of expectations, costs are on an upward trend within the industry and the weakness of the gas price has impacted on Shell, which for the first time sold more gas than oil last year. This uncertainty has weighed somewhat on the shares, with the price having risen 3% over the last year, as compared to an 11% gain for the wider FTSE100. Market consensus has eased of late to a hold, albeit a strong one, which has fractionally edged BP into becoming the more favoured play of the two arch rivals.

Positive Points: Faster growing markets accounted for 42% of Diageo's net sales in the second half of 2012 and delivered organic net sales growth of 14% and operating profit growth of 21%. The group enjoys diversification in both product type and geographical location. Growth by acquisition has proved an option for the board. Acquisitions made in the past two years added £0.3 billion to net sales in the half year, added the group. A progressive dividend policy continues to be pursued. An interim dividend was increased by 9%.