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Deutsche Bank downgrades to hold, target cut from 1,550p to 1,400p

Current trading, outlook and dividend Demand for carrier-neutral data centres remains strong across TelecityGroup's markets, with growth in customers' requirements for capacity being driven by a continuing increase in the use of the internet by both consumers and businesses. TelecityGroup won significant new orders during the first half of 2012, adding to its recurring revenue base. The Group also has an encouraging order book pipeline for the remainder of the year and a largely stable and predictable cost base. As such, management are confident that the Group will deliver a strong performance in 2012 as a whole. TelecityGroup is expected to continue to generate substantial operating cash flows. The Group plans to continue to invest the majority of these discretionary cash flows in its announced and future ongoing capacity expansion programme and to support value enhancing inorganic expansion, in response to growing customer demand for data centre capacity. In this context, as announced at the time of the 2011 preliminary results in February, the Board has decided to initiate a progressive dividend policy and announces a maiden interim dividend of 2.5p per share. The interim dividend will be paid on 21 September 2012 to shareholders on the register on 17 August 2012. The Board continues to focus on demand driven capacity expansion across its European markets into the longer-term, in response to the ongoing growth in the digital economy.

Michael Tobin, TelecityGroup CEO, said: "I am again delighted with TelecityGroup's performance. Once more the Group has delivered excellent results and we have enhanced our growth platform with new capacity openings across Europe and continued to secure further capacity in response to customer demand to underpin longer-term growth. I am particularly pleased to announce our entry into the Finnish market through the acquisition of Tenue. This expands our European growth platform and allows us to serve the growing demand generated from the Helsinki internet hub. It is testament to the strength of TelecityGroup's business model that we are able to expand the Group's growth horizon while at the same time commencing a progressive dividend policy. Demand for premium data centres remains strong in all of our markets and I am confident that 2012 will continue to be another strong year for TelecityGroup."

Statutory equivalent The above highlights are based on the Group's adjusted results. A full reconciliation between the adjusted and statutory results is contained in note 5. Where different, the statutory equivalents of the above results are as follows: · Operating profit £43.4m (H1 2011: £33.5m) · Diluted earnings per share of 15.1p (H1 2011: 12.6p)

TelecityGroup delivers strong growth and confirms a positive outlook Telecity Group plc ('TelecityGroup', 'the Group' or 'the Company'), Europe's industry-leading provider of premium carrier-neutral data centres, today announces its results for the six months ended 30 June 2012 Highlights · Revenue up 22.4% to £137.3m (H1 2011: £112.2m), with currency neutral growth of 25.6% · EBITDA(1) up 26.6% to £62.6m (H1 2011: £49.4m), with currency neutral growth of 30.4% · EBITDA margin up by 150 bps to 45.6% (H1 2011: 44.1%) · Adjusted(2) diluted earnings per share up 36.2% to 15.8p (H1 2011: 11.6p) with currency neutral growth of 41.1% · Available customer power up to 76MW (H1 2011: 59MW) · Announced(3) customer power up to 124MW (H1 2011: 112MW) · Available and announced power up to 80MW and 130MW respectively since the period end · Maiden interim dividend of 2.5p per share declared · New market position established in Helsinki through the acquisition of Tenue in August 2012 (note 16)

http://www.investegate.co.uk/Article.aspx?id=201208060700073305J

Seymour Pierce maintained its "buy" recommendation for Capital & Counties Properties (CAPC), with an increased target price of 233p, from 220p. The broker expects the property developer to finish the 2012 financial year with a net asset value of 191p, rising to 214p by the end of 2013. Seymour Pierce noted that the firm's Covent Garden and Great Capital Partnership estates have outperformed and the broker added that if outline planning approval is given for the firm's proposed Earls Court project it could be a significant share price catalyst. The shares inched up by 0.6p to 218.9p.

Singer Capital reiterated its "buy" recommendation for Creston (CRE) with an 80p target price. The broker said that French advertising group Havas has acquired a 5.18% stake in the marketing advisory firm, which likely to lead to speculation over a possible takeover bid. Singer noted that the marketing sector is in good health, with large companies looking to invest their cash. On the broker's forecasts, the shares trade on an EV/EBITDA multiple of 3.6 times, which it claims is half average price of larger peers. The shares flew up by 5.25p to 75.63p.

Daniel Stewart retained its "buy" stance for Playtech (PTEC) with a target price of 450p. While the poker market has remained difficult, the broker expects the online gambling software developer to report strong first half growth across its other markets, forecasting EBITDA of over 40 million euros (31.7 million pounds) for the period. Additionally, Daniel Stewart expects the shares to gain a boost from the company's inclusion in the FTSE 250 index from September. Playtech shares jumped by 15p to 360.5p

UBM Sell 03-Aug-12 £324,753.50 David Levin 50,000 @ 649.51p

SThree Sell 06-Aug-12 £419,176.54 Gary Elden 157,343 @ 266.41p

ILX Group Buy 01-Aug-12 £40,000.00 Ken Scott 400,000 @ 10.00p

Howden Joinery Group Sell 02-Aug-12 £1,961,135.83 Matthew Ingle 1,431,486 @ 137.00p

Bernard Hoggarth, the now former Chief Executive Officer of Cranswick, sold all of the 30,2225 shares he exercised under the company's long term incentive plan, just two days after he signed off from the FTSE 250 food producer. Hoggarth, who will stay on as Commercial Director on a part-time basis, sold the shares at 850.98p each for a total of £257,209. Hoggarth's role as CEO came to an end on a positive note, with the firm reporting a solid start to its new financial year.

UBS cuts target from 103p to 100p, neutral rating kept

Credit Suisse downgrades to neutral, target cut from 176p to 160p.

Investec maintains buy rating and 190p target;

UBS cuts target from 210p to 191p, buy rating kept;

Nomura reiterates buy rating and 506p target.

Coal and iron ore giant Evraz was in demand after UBS removed the stock from its least preferred list.