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Begbies Traynor, the insolvency consultancy group, is selling its Red Flag Alert credit risk business to its Chairman, Ric Traynor. Traynor, Begbies Traynor's Executive Chairman, has acquired the controlling interest in the Red Flag Alert LLP, with Begbies retaining a minority interest in the partnership. This follows a disposal process, during which feedback from third parties was that the business was not yet sufficiently established for consideration as a standalone acquisition opportunity. Traynor has pledged to pump in up to £1m of new capital into the LLP to fund ongoing losses and its future development. The agreement allows for a return of up to £1.5m of the investment made by Begbies in the business to date, together with a future share of any trading profits of the LLP, with a de-minimis obligation for future investment.

Growth in ICAP's commodities and voice units accelerate as markets 'normalise', rendering the flat full year guidance as too conservative.

Nightmare Scenario: The unchanged guidance announcement sees investors take profits on recent share price gains.

Shares in ICAP continue to occupy a rising trend channel from the beginning of 2012, with the floor of the channel on the daily chart running through 384p – supported by the rising 100-day moving average at 363p. The likelihood is that while there is no sustained price action back below this double support zone the upside for the stock should be toward former March resistance through 430p.

interdealer broker expects markets to 'normalise' in the post Greece bailout trading environment, which provides ample scope for further share price growth given that ICAP shares were near to double current levels

Although the ICAP share price has recovered some ground since the start of 2012, the trading update from March 28th gives the clearest indication yet that the ICAP recovery story is gathering pace.

On March 28th, interdealer broker ICAP (IAP) said expectations for full year performance remained in line with guidance provided at the interim statement on February 1st 2012. Icap noted a pick up in its voice business and interest rate markets, and saw a strong performance from commodities, oil and gas. Foreign exchange trading was affected by quieter market conditions and central bank policies in two of its main currencies, Yen and Swiss Franc, but performance in all post trade risk and information businesses was strong. The group said it expects to see a slow move towards more normalised markets as the year progresses.

Overall, like-for-like sales improved from H2 2011 onwards, but the real acceleration for the fundamentals and the share price came from the Christmas trading last year. JD fans will be hoping that the like-for-like sales jump of 1.6% and net LFL sales rise of 0.1% will be achieved in the period covering the start of 2012, particularly after the acquisition of the trading assets and trade of the fallen Blacks Leisure Group

Although the post Easter week is quiet on the corporate newsfront, a trio of stocks are worth looking at in the holiday-shortened week. Sports fashion retailer JD Sports (JD.) remains one of the exceptions that has proven the rule in terms of the sector woes, a point underlined by the newsflow in recent months.

Pub group Punch Taverns (PUB) will no doubt want to forget 2011, although going into the second quarter of 2012 it is yet to be established whether any sort of recovery is underway. The main issue currently is to prove that last August’s demerger to create the Spirit Pub Company (SPRT), (where the share price chart does at least sport a reasonably straight uptrend) was the right decision. As much as anything else, investors will be seeking a sense of improvement at Punch, a point underlined in December when in the 16 weeks to December 10th, pubs in its core estate saw like-for-like net income fall 1.5% suggesting that the rate is at least slowing..

Child and baby retailer Mothercare (MTC) did appear relatively immune to the effects of the financial crisis until its H1 update in November. That month saw the company report a pre-tax loss of £4.4m, with a substantial dividend cut upsetting the share price. This shock is going to be hard to recover from, and it is likely to take months before investors regain confidence in what appeared to be a relatively resilient niche player. So far the UBS November sell note and 100p price target looks to be on the money.

Kerry Logistics has signed a multi-year contract to implement logistics software group Kewill's freight forwarding solution, Kewill Forwarding, across its global organisation. According to Kewill, Kerry has "probably the strongest distribution network" in Greater China and the Association of Southeast Asian Nations (ASEAN). The ASEAN grouping comprises 10 member countries: Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.

Gooch & Housego, the specialist manufacturer of optical components and systems which issued a profit warning in February, expects to meet reduced expectations with its interim results. Since the February 21st trading update the group has seen further signs that confidence is returning to the Industrial Laser market, a view backed up by the receipt of two significant orders for Q-switches from customers in the Far East. Despite this improvement, overall demand levels remain below the record levels of the last two years. Demand from other market sectors, including telecommunications, aerospace & defence and life sciences, has been steady during the first half of the company's financial year and sales in these sectors remained broadly in line with the firm's original forecasts.

Light-emitting display designer ProPhotonix has signed new distribution deals in Germany, Taiwan and the USA. The new distribution partners will handle distribution of the firm's machine vision illumination products in those countries. Machine vision systems enable the inspection of products throughout the manufacturing process and allow manufacturers to ensure that their products conform to the exact specifications to which they were initially designed.

The new homes will sit within the wider 8.95 acre master plan. At just after the open, Development Securities shares had gained 2.5%. Since the beginning of the year the stock has risen 9.3%.

The group has sold a 1.1 acre site within the village to Sanctuary Group, a care homes provider. Work has already begun on an £8m "Extra Care" scheme on the plot.

Property firm Development Securities has risen sharply in early trading after announcing progress at its planned Lawley Village regeneration development in Telford.

For the year ended December 31st, Eurovet's sales were €76.8m (about £64.0m).

Dechra's Group Chief Executive, Ian Page said: "This is a great opportunity to build on the strong foundation we have created for our pharmaceuticals business, Dechra Veterinary Products. The combined management teams are very excited by the prospects the enlarged group will create. "By bringing Eurovet to the group we will strengthen our European presence; will increase our product portfolio; improve our manufacturing capabilities and strengthen our management team. Furthermore, the acquisition accelerates our strategic objective

The acquisition will be funded using the proceeds of a fully underwritten rights issue which will raise around £60m (£58.2m net of underwriting commissions). The firm will also make use of a new debt facility. The rights issue will be made on the basis of the new ordinary shares for every existing 10 ordinary shares at a price of 300p per share, representing a discount of 29.6% to the theoretical ex-rights price of 426.15p.