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In the Telegraph, Questor wonders whether the publishers of the Harry Potter books, Bloomsbury, still has the magic touch. If it does, it will need to 'get with the programme' on digital platforms - so a 159 per cent increase in ebook sales last year is welcome news. Other impressive stats include a cool £12.6m of revenues from intellectual property sales (including copyright licences) while academic sales are strong. Trading at 9.5 times forward earnings Questor thinks Bloomsbury is worth a punt.

CONT "This fits well with our work in the NHS and the fact that individual budgets are also going to be implemented across health and social care with an integrated focus on the citizen. We are the only solution that spans both areas, additionally we are the only organisation accredited to hold patient records and embedded purchasing cards for secure budget management and payment. "We have not yet commenced sales and marketing activities for our new National Framework across all public sector bodies and will shortly be investing in this area. Whilst it is still early days in terms of replicable and forecastable revenue streams in this area, the early outcomes are very positive and we anticipate cashable visibility in the second half as the pipeline comes to fruition. "Overall we are satisfied with progress in the first half, where we have put significant investment into building a pipeline across a wide range of opportunities."

AGM Update At its Annual General Meeting to be held later today, Ronald Duncan, Chairman of @UK plc (AIM: ATUK.L), the cloud e-Commerce market place, will make the following statement: "We are pleased to announce that the new sales team is making good progress, along with the collaboration with Visa Inc and the development of our Social Care Marketplaces. "The sales team has now delivered 140 proposals for green and spend analysis with a total value of £ 2.3 million of which 22 proposals with a total value of more than £700,000 are currently expected to complete in the second half of this year. "Our international expansion is developing as anticipated with the Indian office profitable and growing. While these are still early days, the signs are positive and our learning is very valuable for further roll out. We are making positive progress with Visa on our collaboration for the Asia Pacific and CEMEA region. "We are beginning to establish a market leading position in the area of Social Care Marketplaces as a consequence of building on our unique technology and leading early adopter client. There are around 160 Local Government organisations who are required to implement individual budgets for citizens receiving care in the community and our tailored solution with an annual licence fee of £35,000 is an attractive option.

http://www.investegate.co.uk/Article.aspx?id=201205240700189937D

World Beer could account for 20% of UK beer sales by 2014 SABMiller announces that its UK subsidiary, Miller Brands, has delivered lager volume growth of 8% in the 12 months to 31 March 2012, despite a declining UK lager market. Much of this growth is the result of Miller Brands' premium portfolio which has been a significant driver behind the popularity of World Beer in the UK. Peroni, Pilsner Urquell and Kozel all grew by double digits during the year. Recent research conducted by Miller Brands has found that World Beer is the only sector of the UK beer category experiencing significant growth. If the current trend continues, by the start of 2014 World Beer could be worth more than £2.1bn in sales and make up 19% of total lager valuei.

http://www.investegate.co.uk/Article.aspx?id=201205240700209938D

http://www.investegate.co.uk/Article.aspx?id=201205240700189931D

Strong growth in Latin America and Africa offset declines in crisis-torn Europe for lager brewer SABMIller last year. Group revenue in the 12 months to March 31st rose 11% to $31,388m from $28,311m the year before. Earnings before interest, tax and amortisation (EBITA) rose 12% to $5,634m from $5,044m a year earlier while adjusted profit before tax climbed 13% to $5,062m from $4,491m. Switzerland-based iron ore group Ferrexpo has assured investors that it continues to operate at full capacity and has seen 'good' demand for its iron ore pellets in the year to date. In the period to April 30th, own ore pellet production was 6.2% higher than the same period in 2011. However, sales were unchanged year-on-year as the average selling price fell 9% "reflecting customer mix and lower market prices", the company said.

Caledonia will facilitate the vendor funding of all the sale transactions which will be repaid by way of future dividends from Blanket. Outstanding balances on these facilitation loans will attract interest at a rate of 10% over the 12-month LIBOR. The timing for the repayment of the facilitation loans will depend on the future financial performance of Blanket. Caledonia expects to redeploy the sale consideration in its projects. Completion of these sale agreements is subject to several conditions precedent which include certain approvals from the Reserve Bank of Zimbabwe and Caledonia receiving confirmation from the Government of Zimbabwe that full implementation of the terms of the MoU constitutes compliance by Blanket and Caledonia with the requirements of the Indigenisation Act. Further announcements will be made when appropriate. Blanket's unaudited revenues and profit after tax for the year to December 31, 2011 were US$56.6 million and US$19.2 million respectively.

Indigenisation update: Transfer of a further 20% of Blanket Mine to Indigenous parties Toronto, Ontario May 24, 2012: Caledonia Mining Corporation ("Caledonia" or the "Company") (TSX: CAL, OTCQX: CALVF, AIM: CMCL) is pleased to announce that two further agreements have been signed in respect of the transfer of 20% of the Blanket Mine in Zimbabwe ("Blanket") to two Indigenous Zimbabwean Trusts. These agreements have been made in accordance with the Memorandum of Understanding ("MoU"), which was signed with the Government of Zimbabwe on February 20, 2012, which is acknowledged by its signatories as being a binding agreement, and pursuant to which Indigenous Zimbabweans will acquire an effective 51% ownership of the Blanket Mine for a paid transactional value of US$30.09 million. An agreement has been signed for the sale of 10% of Blanket for a consideration of US$7.339 million to The Blanket Mine Employee Trust; a trust that has been established for the benefit of the present and future managers and employees of Blanket. A second agreement has been signed for the donation of 10% of Blanket to the Gwanda Community Share Ownership Trust, a trust that has been established for the benefit of the local community. Pursuant to the terms of the MoU, Blanket will now make a non-refundable donation of US$1.0 million to this trust. These two agreements are in addition to the agreement for the sale of 15% ownership of Blanket to a consortium of Indigenous Zimbabweans for a consideration of US$11.0 million, which the Company announced on May 10, 2012. Caledonia has submitted an agreement regarding the last remaining indigenisation transaction being the sale of a 16% interest to the National Indigenisation and Economic Empowerment Fund.

http://www.investegate.co.uk/Article.aspx?id=201205240700179922D

Peter Spivey, Chief Executive of Cluff Gold, commented: "We are pleased to have completed the acquisition of the Sega project. This transaction will allow the Kalsaka mine to continue to provide significant cash flow through the development and early production phases of our flagship development asset, Baomahun in Sierra Leone. This transaction brings us closer to establishing Cluff Gold as a leading mid-tier West African focused gold producer."

Cluff Gold plc: Completion of Sega Acquisition LONDON, UNITED KINGDOM--(Marketwire - May 24, 2012) - Cluff Gold (AIM:CLF)(TSX:CFG) ("Cluff Gold" or the "Company"), the dual AIM/TSX-listed West Africa focused gold mining company, is pleased to announce the successful completion of its acquisition of the Sega Gold Project ("Sega") from Orezone Gold Corporation ("Orezone"). Located 20km north of Cluff Gold's Kalsaka heap leach operation in Burkina Faso, Sega hosts an indicated resource of 450,366oz (8.3Mt at 1.69 g/t) and an inferred resource of 147,344oz (2.9Mt at 1.58g/t)(1), providing an opportunity to enhance Kalsaka's production profile with limited upfront capital expenditure. A preliminary economic assessment of Sega is currently in progress and is expected to be completed later in Q2 2012. An environmental and social impact assessment is also currently underway to ensure that the licensing of the property can be concluded in a timely fashion to allow a smooth transition for processing from Kalsaka to Sega ore sources. As part of the completion of the transaction, Cluff Gold has issued 11 million new ordinary shares of 1p each in the Company ("New Shares") to Orezone. The Toronto Stock Exchange has conditionally approved the listing of the New Shares. Application has been made for the New Shares to be admitted to trading on the AIM market of the London Stock Exchange ("Admission"). It is expected that Admission will take place and that trading in the New Shares will commence on AIM on 28 May 2012. The New Shares will rank pari passu with the Company's existing ordinary shares. For the purposes of the Disclosure and Transparency Rules, the Company's total issued share capital following Admission of the New Shares will comprise 168,047,937 ordinary shares with one voting right per share. The Company has no shares in treasury. The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company, under the Disclosure and Transparency Rules.

Northland Capital kept its "add" rating for May Gurney Integrated Services (MAYG) and 260p target price. The broker believes that the firm's acquisition of public sector vehicle manager Translinc provides it will cross selling opportunities in the North West and Midlands, where it previously had no exposure. Northland expects limited revenue growth in the financial year ending 31st March 2013 as the firm looks to consolidate its position, but noted that this follows a period of strong growth over the last few years. The broker added that the shares trade on a prospective multiple of just 7.7 times for 2013 and offer a dividend yield of 4%

Daniel Stewart reiterated its "buy" recommendation for RSA Insurance Group (RSA) but with a reduced target price of 135p, from 145p. The broker said that the firm's new chief executive Simon Lee is helping drive the business through a focus on specialty and affinity business, as well as expansion into emerging markets. Daniel Stewart added that the firm offers a very attractive dividend yield for the year ending December 2012, of 9.6%. However, a slow start to the year led the broker to lower its full year earnings forecast by 4% to 15.9p, putting the shares on a prospective multiple of 6.3 times

Panmure Gordon maintained its "buy" recommendation for Kirkland Lake Gold (KGI) with a 1,150p target price. The Canada focused gold producer has announced that it was forced to temporarily cease its operations in Ontario due to a forest fire, which the broker noted damaged the transmission lines resulting in a loss of power at its processing facility. Despite this, Panmure does not expect this to have a significant impact on production, reiterating its 2013 forecast of 167 thousand ounces of gold.

Sorry I missed this line! Gershon, who is also the Chairman of FTSE 100 sweeteners group Tate & Lyle, today bought 22,352 shares in the firm for 667.5p each for a total of £149,200.

The Chairman of National Grid has raised his stake just five days after the energy supplier reported a five per cent increase in full-year adjusted profits. Sir Peter Gershon, who joined the board as deputy Chairman in August last year, became the sole Chairman in January after succeeding Sir John Parker.

http://www.edisoninvestmentresearch.co.uk/researchreports/hrowen220512update.pdf

Despite a 2% beat to consensus profit estimates at Marks and Spencer, Investec has maintained its sell recommendation and 295p target price for the High Street giant, saying that its underlying performance is still weak. Underlying pre-tax profit came in at £705.9m but the broker notes that the beat was entirely due to the contribution from M&S Money (£10m higher than consensus estimates) and a lower interest charge. "On first impressions we expect to make no material changes to our underlying trading forecasts."