Member Info for mulledwine

http://www.investegate.co.uk/Article.aspx?id=201208150700050258K

Numis downgrades Lookers from buy to add, target price unchanged at 75p.

What the! apologies thats what nightshift does to you - 24 hrs behind.

LK Gupta, EOL’s Managing Director and CEO said: “With the completion of our optimization project during the quarter, we have significantly moved up in the refining value chain and our world class assets have begun delivering value to our stakeholders. Benefits of higher capacity and complexity have already begun reflecting in our results. We are very happy to report highest ever quarterly revenues at Rs 22,109 crore, and significant improvement of GRMs over the benchmark margins. Going forward, we are confident of maintaining the momentum of improved GRMs, given the full benefit of our expansion will accrue from current quarter onwards.” Suresh Jain, CFO, Essar Oil said, “Significant drop is crude oil prices, coupled with rupee depreciation has impacted the whole industry. In addition, due to ramp up in capacity, we had higher interest and depreciation cost post capitalization, which will be offset in the coming quarters with improved margins.

ESSAR OIL LIMITED: RESULTS FOR THE QUARTER ENDED 30 TH JUNE 2012 Essar Oil Limited, the India-focused integrated energy company, part of UK listed Essar Energy Plc, today released its results for the quarter ended June 30th, 2012 Key Highlights • All new units of refinery expansion and optimisation stabilised & refinery now operating at over 20 mmtpa capacity. • Benefit of higher complexity begins to get reflected. Current price GRM $5.12/bbl over IEA Singapore margins during Q1FY13 against $2.5/bbl over the same benchmark margin in Q1FY12. Full margin benefit of approx. $7-8 /bbl over IEA will start getting reflected from next quarter onwards. • Highest ever quarterly revenue in Q1FY13, up 34% to Rs 22,109 crore as compared to Rs 16,478 crore in Q1 FY12. • Steep fall in crude oil prices coupled with sharp depreciation in rupee has severely impacted the financial results of Indian refining companies. Q1FY13 PAT at negative Rs 1,400 crore compared to Rs 73 crore (net of Rs 375 crore of sales tax benefit) in Q1FY12. With upward movement of crude oil price and stabilisation of rupee at Rs 56 levels against the US dollar, coupled with higher margins coming out of enhanced refinery complexity and stabilisation of ramped up capacity, the results are expected to witness significant upward movement from next quarter. • Vadinar Refinery received “Refinery of the Year” Award from Petroleum Federation of India.

Highlights · Solid operating performance - High power plant availability - Vadinar refinery throughput increased by 24% to 4.48 MMT primarily due to completion of expansion project on 29 March 2012 - 12% increase in Vadinar refinery current price GRM to US$4.69/bbl - Full impact of complexity upgrade from H2 FY2013 - Stanlow refinery current price GRM of US$7.53/bbl · Vadinar refinery optimisation project completed 4 months ahead of schedule · 1,200 MW Salaya I coal fired power project commissioned · Unit 1 (255 MW) of Vadinar P2 coal fired project commissioned · Final approval for Aries coal block (Indonesia) and provisional approval for Mahan Coal block (India) · US$450 million bridge loan refinanced and Stanlow inventory monetised · Rs.50 billion (c.US$900 million) loan facility secured to meet deferred sales tax liability · Essar Oil CDR exit and replacement Rs.94 billion (c.US$1.7 billion) facility agreed

David Ciclitira, Chairman, commented: "We are delighted to add the sport of Judo to our portfolio and especially in light of Great Britain's recent Silver and Bronze medals in the recent summer games and the growing success of our new K Pop business in Asia. PMG and its subsidiaries have a number of other projects that we are working on at the moment and we look forward to making further announcements in due course."

New Contracts Parallel Media Group Plc, the AIM quoted sports marketing and digital media agency, today announces a series of new contracts relating to its Asian based business. Kpop Band Skarf Parallel Media Group Asia (PMGA), a 51% owned subsidiary has sold, on behalf of Alpha Entertainment Group Pte Ltd, until 31 December 2012 the title sponsorship of K-Pop band Skarf to Giant, a hypermarket in Singapore, for US$300,000 from which PMGA will earn commissions. Skarf, a band consisting of two Singaporean and two Korean artists debuted yesterday with their single Oh! Dance (www.alphaentkorea.com). Wonder Girls In addition PMGA has an agreement with Giant to be the presenting sponsor for the forthcoming concert for K-Pop band the Wonder Girls which will be held in Singapore on 08 September 2012. TC Connections and Yes Asia have also been signed up as co-sponsors for the concert. International Judo Federation Furthermore, PMG has been appointed by the International Judo Federation ('IJF') as a global sponsorship agent for judo events during the initial period ending 31 December 2016.

http://www.investegate.co.uk/Article.aspx?id=201208150700100261K

Seymour Pierce retained its "buy" stance on Cluff Gold (CLF) with a 136p target price. The broker believes that the Africa focused gold miner may have discovered a large deposit underneath a previously discovered layer in Cote d'Ivoire. Seymour Pierce said that the group's exploration programme is scheduled for completion in late October. On the broker's forecasts the shares trade on an earnings multiple of 7.8 times and an EV/EBITDA multiple of 1.9 times for the 2013 financial year. Cluff shares advanced by 1.75p to 57.75p

N+1 Brewin maintained its "buy" rating for JKX Oil & Gas (JKX), but with a reduced target price of 169p, from 192p. The lowered price is due to the Eastern Europe focused hydrocarbons explorer suffering ramp-up delays in Russia and Hungary, leading it to lower its full year production target to 8,228 barrels of oil equivalent per day, from 8,839 boepd. Brewin now expects the Russian plant will reach capacity of 40 million cubic feet of gas per day by the second half of 2013. The shares declined by 1.5p to 89p.

Panmure Gordon reiterated its "buy" recommendation for Persimmon (PSN) with a 689p target price. The housebuilder will issue its half year report on 21st August and the broker expects to see a strong performance heading into the important Autumn trading season. Panmure forecasts the company to complete 4,712 homes in the current financial year, 6% more than in 2011, with prices rising by around 5.4%. The broker believes the group will finish the year with a net asset value of 654p, with the shares yielding 11%. Persimmon shares gained 14.5p to 682.50p

Johnson Matthey Sell 14-Aug-12 £86,009.46 W F Sandford 3,774 @ 2,279.00p

Canaccord Financial Inc. Buy 14-Aug-12 £15,170.99 Paul Reynolds 5,000 @ 303.42p

Geoff Cooper, the Chief Executive of builders' merchant Travis Perkins, has sold a chunk of shares just a week after the firm's Finance Director ditched a similar sized stake. CEO Cooper, who joined the company in February 2005 and was appointed Chief Executive a month later, sold 51,776 at 1,091.93p a pop, pocketing a total of £565,358. Having sold 14,465 shares in his own name and the rest in his wife's, Copper now holds a beneficial interest of 132,190 shares.

UBS lifted target from 1,750p to 2,000p, neutral rating kept

At the height of the crash she hit 200 but there was good support at 300 in early 2009.

jinsky - personally, I would think this will go lower - she closed 365 ish earlier in the month - I actually think the SP held well today. I am looking for a lower entry - around 320 - perhaps too 'ambitious' but time will tell

"ENRC has shown a resilient performance in the first half of 2012, a period characterised by deepening economic uncertainty and declining prices for our key products. In the light of these market conditions we have concentrated on controlling our costs and enhancing productivity, with unit cost inflation falling well below our earlier guidance. Furthermore, we have implemented a review of our capex projects and are revising the development plan for our copper assets in the DRC, so as to improve the capital efficiency of our investment programme and returns to shareholders. Our growth programme in both Kazakhstan and internationally, has progressed well and is on-track to deliver significant value in the coming years. We expect that demand will remain robust for our core commodities in the second half of the year." Felix J Vulis, Chief Executive Officer

Outlook for Full Year 2012 · Capital expenditure reduced to US$2.4 billion for 2012; overall capex programme in advanced stages of review to reprioritise investment spend; comprised of total committed expansionary capex of US$2.3 billion and capex under review of US$8.8 billion. · Production expected to be at full available capacity across all Divisions in H2 2012; increased copper volumes expected, as well as recoveries in iron ore and alumina volumes. · Volatile market environment and pricing uncertainty to persist, but competitive advantage of low-cost position in Kazakhstan to be maintained. · Industry cost pressures to continue, albeit at a slightly lower level than previously guided. Social spend to be maintained at approximately 2011 levels. · On-going assessment of options to best unlock value for shareholders, including demerging of the international operations of the Group.