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Westhouse Securities reiterates strong buy on Microgen, target price unchanged at 200p.

Espirito Santo reiterates buy on Howden Joinery, target price raised from 150p to 165p.

Numis upgrades Home Retail Group from sell to add, target price raised from 63p to 85p.

Investec Securities reiterated its "buy" recommendation for Kirkland Lake Gold (KGI) with a 1,007p target price. The broker said that the US focused gold miner has 4 million ounces of gold inventory in a region that has historically produced 22 million ounces. Investec added that the firm is undertaking an expansion programme, with the broker forecasting production to rise to 196k ounces per year, from 98k ounces in 2012. Shares in Kirkland declined by 16.5p to 661p.

ACQUISITION OF LAND HOLDING COMPANY IN PAPUA NEW GUINEA New Britain Palm Oil Limited (LSE: NBPO), one of the world's largest fully integrated producers of sustainable palm oil, today announces the acquisition of 100% of Vitroplant Orangerie Bay Limited ("Vitroplant"), a land holding company in Papua New Guinea, for a cash consideration of USD4,432,500. Vitroplant, to be renamed Orangerie Bay Plantations Limited, holds 99 year state leases located in Central Province, adjacent to the Company's estates in Milne Bay, covering a total area of 5,351 hectares with environmental permits issued from the Department of Environment and Conservation for oil palm plantation development. In addition to the state leases, Vitroplant has also signed agreements with various incorporated land groups holding customary land of approximately 6,000 hectares. Following the Roundtable on Sustainable Palm Oil high conservation value land assessments and all other regulatory requirements, the Company hopes to start to develop these areas over a 3-4 year period commencing in 2013.

http://www.investegate.co.uk/Article.aspx?id=201207230800012336I

Valuation: Supported by strong dividend yield Acal currently trades at a discount to peers on all multiples, and has a stronger dividend yield than its closest peers. Aside from a general improvement in economic conditions, which are not under Acal’s control, the company has scope to drive upside through continued focus on margin expansion, which we forecast despite a decline in FY13 revenues.

http://www.edisoninvestmentresearch.co.uk/researchreports/Acal230712update.pdf

Dods (Group) Buy 20-Jul-12 £11,875.00 Sir William Wells 250,000 @ 4.75p

Tanfield Group Buy 18-Jul-12 £100,340.10 Roy R E Stanley 238,905 @ 42.00p

James Peters, the Deputy Chairman of XP Power, which makes power control components for the electronics industry, underlined his support of the company with the purchase of 11,000 shares on the same day the company posted declining half year revenue and profits. Peters handed over 1,010.50p per share for a total of £0.11m. He now owns 2.2m shares, equal to 11.38% of the issued share capital. Profit before tax for the year came in at £9.6m (2011: £11.9m) on revenues of £46.5m (2011: £51.9m), pushing the gross margin from £25.7m to £21.8m. This was mainly due to weaker order intake in the latter part of 2011 as industrial electronics demand softened in response to the weaker macroeconomic outlook.

WPP Digital acquires majority stake in Acceleration, a leading marketing technology solution group WPP announces that WPP Digital has acquired a majority stake in Acceleration Holdings Ltd in Guernsey and Acceleration eMarketing (Pty) Limited in South Africa, the holding companies of Acceleration, a leading marketing technology solutions group ("Acceleration"). Founded in 1999, Acceleration has offices in Buenos Aires, Cape Town, Dubai, Johannesburg, London and New York and and employs 148 marketing technologists. Acceleration helps its clients architect, implement and orchestrate digital marketing and publishing technologies to enhance their digital business initiatives. Acceleration's clients include Celebrity Cruises, The Economist, South African Tourism and UEFA. Acceleration's combined audited revenues for the year ended 31 December 2011 were US$16.8 million, with gross assets of US$7.1 million as at the same date. This investment continues WPP's strategy of investing in digital capabilities. WPP's digital revenues currently total almost US$4.8 billion, representing over 30% of the Group's total revenue of US$16 billion. WPP has set a target of 35-40% of revenue derived from digital in the next five years.

http://www.investegate.co.uk/Article.aspx?id=201207231534172930I

http://www.investegate.co.uk/Article.aspx?id=201207231604452961I

Dividend Declaration Premier Energy and Water Trust PLC announces that the second interim dividend for the year ending 31 December 2012 of 1.7p per ordinary share, which represents an increase of 6.3% over the interim dividend paid for the equivalent period in 2011, will be paid on 28 September 2012 to members on the register at the close of business on 31 August 2012. The ordinary shares will be marked ex-dividend on 29 August 2012.

CONT The New Loan carries an interest rate of 1% per month and can be repaid at any time at the request of the Company with no early redemption cost. The New Loan will be secured by way of a debenture, which will rank behind the security in respect of the funding facilities provided by GE Commercial Finance Limited. Hawk is an investment vehicle controlled by ALR Morton. Hawk owns 29.9% of the issued ordinary share capital of Armour and is deemed to be in concert with various other parties as detailed in the circular of 28 January 2011. Southwind does not have an interest in the share capital of Armour but is considered to be a related party of ALR Morton. In aggregate, ALR Morton and persons acting in concert with him, hold 39.1% of the issued ordinary share capital of Armour. Due to the above shareholding and ALR Morton's position as Chairman of Armour, the New Loan from Hawk and the Interim Loan from Southwind are deemed to be related party transactions under Rule 13 of the AIM Rules. The Independent Directors (being all directors excluding ALR Morton), having consulted with the Group's nominated adviser finnCap, consider that the proposed transactions are fair and reasonable insofar as the Group's shareholders are concerned.

Replacement Loan facility Armour, the UK's leading consumer electronics group focused on the in-car communications and entertainment and home entertainment markets, announces that Hawk Investment Holdings Limited ("Hawk") has agreed to lend the Group £2.0 million ("New Loan") which will replace the existing loans of £2.0 million from Hawk ("Existing Loans") which expire on 23 July 2012. The terms of the New Loan will be the same as the terms of the Existing Loans save for Hawk having the right to convert the New Loan into ordinary shares in the event that the Company issues equity in a future fundraise. Any conversion would be subject to consent of the Takeover Panel and approval by shareholders independent of Hawk, to waive the obligation on Hawk and associated parties to make a general offer for the Company pursuant to Rule 9 of the Takeover Code which might otherwise arise on such conversion. Subject to the above, Hawk will have the right to convert the capital and accrued interest of the New Loan into equity at the lower of the issue price of any equity at the time of a fundraise or average mid-market closing price of such ordinary shares over the five Business Days preceding such fundraise. The New Loan will expire 364 days following the receipt of funds should it not be converted. The Existing Loans will be repaid on 23 July 2012 and the Company expects to receive the New Loan on or before 6 August 2012. During the interim period, the Company has agreed a bridging loan ("Interim Loan") of £2.0 million from Southwind Limited ("Southwind"). The Interim Loan carries interest at 12% per annum based on a 365 day year. It is expected to be utilised for a maximum of ten business days from 23 July 2012 and drawdown of the New Loan allows the Interim Loan to be repaid.

http://www.investegate.co.uk/Article.aspx?id=201207230820112408I

ngloGold Ashanti obtains US$1 billion, five-year revolving credit facility AngloGold Ashanti is pleased to announce that it has signed a new US$1 billion, five-year unsecured revolving credit facility (RCF) maturing in July 2017 with its banking syndicate. This replaces the existing four-year, US$1bn unsecured RCF maturing in April 2014. The new RCF was significantly over-subscribed. The new facility improves the overall tenor and maturity profile of the group's existing debt facilities and further strengthens the company's balance sheet. AngloGold Ashanti seeks to continue its established track record of proactive and prudent debt structuring that enhances its certainty of funding in volatile markets. The company has investment grade credit ratings from both Moody's Investor Services and Standard & Poor's. Bank of Tokyo-Mitsubishi UFJ and Barclays Bank PLC acted as co-ordinators on the facility and are joined by Australia and New Zealand Banking Group Limited, Canadian Imperial Bank of Commerce, London Branch, China Construction Bank Corporation, Johannesburg Branch, Citibank, N.A., London Branch, Commonwealth Bank of Australia, Deutsche Bank AG, London Branch, Goldman Sachs International, HSBC Bank plc, Morgan Stanley Bank International Limited, Royal Bank of Canada, Scotiabank (Ireland) Limited, Standard Chartered Bank and UBS AG, London Branch as Mandated Lead Arrangers and Bookrunners with Bank of Montreal and J.P. Morgan Limited as Lead Arrangers.

http://www.investegate.co.uk/Article.aspx?id=20120723075056P6038