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Rexam (REX) Second only to the legendary Smith & Nephew (SN.), Rexam has been one of the top Zak Mir takeover prospects. The current position here is that there has been a retreat back to the floor of a rising trend channel from November. Only an end of day close back below the blue 50 day line would suggest that there will not be at least one retest of recent highs in the 370p's over the next 2-4 weeks.

Resolution (RSL) It would appear that Resolution has already done a lot on the upside in recent months, and to expect more may be pushing it. Nevertheless, above a broken line of support from July / grey 20 day moving average at 273p the shares could still reach the current February intraday high of 294p over the next 2-4 weeks. Says Chartist - Zak Mir

Consistent with its strategy to reshape its portfolio and develop the business around full-service telecommunications operations, Cable & Wireless Communications (CWC) has agreed to sell its operating business in Bermuda, Cable & Wireless Bermuda, for 70 million dollars (43 million pounds). The group also announced an on-market share buyback programme of up to 100 million dollars (62 million pounds) in order to return capital to its shareholders. C&W shares climbed 4.11p to 50.58p.

ADVFN (AFN), a provider of share data to private investors, posted narrowed pre-tax losses for the half-year ended 31st December 2010, reflecting a continuation of good growth and bottom line improvement. The group, which also provides education services through its wholly owned subsidiary Success Events, revealed that pre-tax losses fell by 80% to 67,000 pounds on revenue 13.5% greater at 4.6 million pounds. Looking forward, the group said it was feeling "buoyant about the months ahead." Shares in ADVFN edged down 0.05p to 5.875p.

Shares in Armour Group (AMR) fell 1.13p to 8p on news the consumer electronics group was cautious as to the prospects for its UK based sales into the retail and house building markets in 2011 following a "challenging" start to the financial year. "The start to the new financial year has been challenging for the group with our exposure to a weak retail sector and the poor December weather impacting our trading performance," commented chief executive George Dexter in the company's Annual General Meeting.

Engineering group Rotork (ROR) has signed a contract to acquire all the outstanding issued share capital of Rotork Servo Controles de Mexico (RSCM), its Mexican sales and service agent, that it does not already own. "Our acquisition...of RSCM signals our intention to invest in this business recognising the significant opportunities for us in the region," commented Peter France, chief executive of Rotork Group. Gross assets of RSCM are approximately 1.6 million pounds. Shares in Rotork rose 6p to 1,773p.

Trading at Andor Technology (AND) has continued to be strong, the high performance scientific digital cameras manufacturer announced in a trading update for the first four months of the current financial year, with all regions showing growth over the same period last year. While remaining cautious in relation to currency volatility, it added that it was on track to meet market expectations for the current financial year. Andor shares dropped 18.13p to 455p.

Symphony Environmental Technologies* (SYM), the specialist in advanced plastics technologies, has signed a 25-year distribution agreement with Timothy Murtaugh for its d2w and d2p additives and products in the US. Commenting on this, Michael Laurier, chief executive of Symphony, said: "This agreement marks the first stage of our strategic development in the US, where we believe there is significant potential to distribute the d2w controlled plastic and d2p anti-microbial additive technologies into one of the largest plastics markets in the world". The shares ended the day up 0.75p at 15.75p.

Technology group Logica (LOG) said it was poised to lift revenue and margins this year after a dull performance in key markets kept adjusted operating profit flat in the year ended 31st December 2010. The company, which delivers business consulting, systems integration and outsourcing across all industries and business functions, reported adjusted operating profit of 272 million pounds on sales of 3.7 billion pounds in the 12-months, both largely unchanged from the previous year. Andy Green, chief executive, said he expected Logica's revenue to "grow faster than the market" and forecast "modest" operating margin improvement in 2011.

Europe's largest drinks can maker Rexam (REX) posted a 45% jump in underlying pretax profits for the full-year ended 31st December 2010 as it bounced back from a weak 2009 and said it expected continued progress in 2011. The group, which makes cans for Carlsberg and Austria-based Red Bull, revealed that underlying pretax profit rose to 412 million pounds, boosted by growth in sales of drinks cans, cost cuts and better pricing. Looking ahead, chief executive Graham Chipchase said: "We will remain focused on increasing our return on capital, optimising cash and controlling costs, while making disciplined investments to improve our growth and returns over time."

Following interim results, Brewin Dolphin maintained its "hold" recommendation for Dechra Pharmaceuticals (DPH) with an increased target price of 520p, up from 515p. Whilst Brewin believes underlying progress has been "admirable", it is cautious on the impact of both competitive pressures on the group and currency headwinds on revenues generated overseas (approximately 20%). That said, with little new news on the development pipeline to get excited about, the broker sees few catalysts in the short run. Shares in Dechra dipped 8p to 506p.

Singer Capital Markets issued a "buy" rating for ProStrakan (PSK), the international specialty pharmaceutical company, with a 135p target price. The broker notes yesterday's announcement that the Canadian regulators have approved breakthrough cancer pain therapy Abstral and, as an exclusive supplier, the group will receive manufacturing fees together with a number of small, undisclosed, sales related milestones. Singer also notes Norgine's increased holding in the company, and, although the probability of a potential counter-bid is not necessarily high, advises investors to await further developments. ProStrakan shares edged down 0.25p to 132.75p.

Evolution Securities issued a "buy" recommendation for Kerry Group (KYGA), a major international food corporation. While there are headwinds of greater input costs, the broker continues to believe that the company is well equipped to deal with this input inflation given the relatively high pricing power of the firm's ingredients division. Furthermore, Evolution thinks Kerry's price-to-earnings ratio fails to reflect the group's track record, strong management and unique broad based positioning in the fast growing ingredients market. The shares climbed 25p to 2,660p.

Arbuthnot issued a "strong buy" rating for GVC Holdings (GVC), the on-line casino and gaming business, with a 150p target price. The broker notes the group's change in the deferred consideration for Betboo to incentivise management to invest more to maintain the business's existing strong growth. This, Arbuthnot believes, also has the beneficial effect of spreading the payment of the deferred consideration over a longer period. Moreover, whilst the full impact is offset by increased investment in Casino Club in anticipation of favourable regulatory developments in Germany, the broker thinks the change will reduce the prospect of any fall in dividend in 2012. GVC shares rose 10.5p to 113.5p.

http://www.investegate.co.uk/Article.aspx?id=20110223115500H1695

Progress Update for Today's Annual General Meeting At the Annual General Meeting of the Company to be held later this morning, the Chairman will make the following statement: - "I am pleased to report that our financial year has started positively with trading ahead of management expectations in the first four months. Against a background of favourable market conditions we have experienced strong demand for acousto-optics (Q-switches), electro-optics and precision optics for semiconductor, microelectronics and other industrial applications, while our strategy of diversification has been supported by continued sales growth in the Aerospace & Defence and Life Sciences sectors. At the end of January the order book stood at a record level of £25.5 million (excluding acquisitions), up from £23.5 million at the start of the financial year. The acquisition of EM4, Inc. ("EM4") was completed on 24 January. The acquisition enhances our presence in the Aerospace & Defence market and has been well received by customers. We are already working together on a number of significant opportunities that can now be addressed using the combined capabilities of G&H and EM4. The process of integration is moving ahead swiftly in order to maximise these opportunities. As previously reported, we continue to evaluate other acquisition opportunities. "

http://www.investegate.co.uk/Article.aspx?id=201102230700096662B

Optical components maker Gooch & Housego said its financial year has started positively with trading ahead of management expectations in the first four months. The group said it had experienced strong demand for its products across all of its sectors.

Patrick Burgess, Chairman of CSC comments as follows: "The 2010 results demonstrate that CSC's recovery is on track with increased like-for-like net rental income, improved operational performance and continuing property valuation surpluses. CSC has made some striking moves to redefine itself as the specialist REIT focused on pre-eminent UK regional shopping centres, including the demerger of Capco and the transformational acquisition of The Trafford Centre in January 2011. CSC ends the year in a robust financial position with the debt to assets ratio at 48 per cent, around £500 million of financial headroom and a range of return enhancing organic opportunities which we intend to pursue vigorously. While the UK faces economic challenges over the next few years, CSC is well placed to achieve growth and superior shareholder returns."

CORPORATE HIGHLIGHTS · Group transformed into the only pure UK prime shopping centre REIT through the successful demerger of Capital & Counties from Liberty International PLC (now Capital Shopping Centres Group PLC) · Placing of 62.3 million shares at 355 pence raising £221 million before costs · Debt to assets ratio 47 per cent and available financial headroom approximately £500 million (post Trafford Centre acquisition), no significant debt maturity until 2014 and in January 2011 · Completion of the acquisition of The Trafford Centre · Completion of the C&C US transaction with Equity One STRONGLY POSITIONED FOR GROWTH · CSC now owns 14 centres including 10 of UK's top 25 and 4 of the UK's top 6 out-of-town · Opportunity for growth in like-for-like net rental income - potential 18 per cent reversionary upside · Scope for valuation recovery to continue - valuation yields still above CSC long-run average · Potential for value creation through development and active management. Plans for investment (up to £600 million over the medium term) with potential to create at least 4,500 jobs for the regional economies in which CSC operates · Integration of The Trafford Centre - draw upon combined expertise to adopt strongest features and best operational practices of individual centres · Structural shift in UK retail towards pre-eminent destinations such as CSC's with strong leisure and catering offerings, new supply currently constrained.