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http://www.investegate.co.uk/Article.aspx?id=201205140700202263D

TRADING AND OUTLOOK In a period, in which trading conditions have continued to remain challenging though relatively stable, the Group has traded in line with the Board's expectations. While no material sale transactions arose in the period covered by this statement, our teams remain very busy bringing forward land and development opportunities.

http://www.investegate.co.uk/Article.aspx?id=201205140700161663D

"I am very pleased that Veduga, a non-core asset for Polymetal, has found a competent owner who is prepared to take this asset into production," said Vitaly Nesis, CEO of Polymetal. "We believe this transaction allows Polymetal, through its more than 80% stake in Polygon, to benefit from the development of this high-quality asset while preserving management's focus on the Company's existing project pipeline".

Polymetal International plc Polymetal sells Veduga to Polygon Gold - the new JV to develop the asset Polymetal International plc (LSE: POLY) (together with its subsidiaries - "Polymetal") announces that it has sold 100% of Amikan Holding Limited, which owns the Veduga gold deposit ("Veduga") in the Krasnoyarsk region of the Russian Federation, to Polygon Gold Inc. ("Polygon"), a private company incorporated in the Province of British Columbia, Canada. Polymetal received consideration of US$20 million in cash and 750 ordinary shares of Polygon resulting in an 81.8% equity ownership in Polygon (the "Transaction"). Polygon was founded by Leonard Homeniuk, a gold mining executive with more than 35 years of industry experience and currently an independent non-executive director of Polymetal, to develop Veduga into a producing mine. Mr. Homeniuk serves as Polygon's Executive Chairman and CEO. Polygon will operate as a standalone company with independent management, while Polymetal plans to provide certain technical and regulatory assistance to Polygon on an ongoing basis. Over time Polymetal may dilute its equity stake in Polygon if external equity financing is raised. Veduga has estimated NI 43-101 compliant open-pit reserves of 1.05 Moz of gold contained in 5.9 Mt at 5.5 g/t and M&I resources (inclusive of reserves) of 2.04 Moz of gold contained in 11.8 Mt at 5.4 g/t. The asset was part of the joint venture between AngloGold Ashanti and Polymetal from 2007 to 2012. In accordance with Listing Rule 11.1.10R (2)(b), an independent adviser (HSBC Bank plc) provided confirmation that the terms of the Transaction (being a related party transaction for the Company) are fair and reasonable as far as the shareholders of Polymetal are concerned. The Transaction was also approved by Polymetal's Board of Directors.

http://www.investegate.co.uk/Article.aspx?id=201205140700152511D

Commenting on the transaction, Ian Burke, chairman and chief executive officer of Rank said: "We are delighted to have agreed terms with Gala Coral. This Acquisition will deliver a step change in Rank's earnings by capitalising on our proven record of operational excellence in the British casino sector and will be earnings enhancing in the first full year of ownership. By rolling out the 'G Casino' format into the Gala estate and expanding the Grosvenor Casino brand into 11 new cities, we will accelerate the growing awareness of the brand and support the development of a multi-channel gaming business." The Acquisition, which is expected to be completed in the third quarter of calendar 2012, is conditional upon the approval of Rank shareholders and receipt of UK merger control clearance. A circular including details of the Acquisition and containing notice of a general meeting of the Company (the "General Meeting") (at which a resolution seeking Rank shareholder approval for the Acquisition will be proposed), will be despatched to shareholders as soon as practicable (the "Circular"). Rank has received an irrevocable undertaking from its majority shareholder, Rank Assets Limited (a wholly-owned subsidiary of Guoco Group Limited), to vote in favour of the resolution to be proposed at the General Meeting. Evercore Partners is acting as sponsor and financial adviser to Rank in relation to the Acquisition. Investec is acting as corporate broker to Rank.

The Rank Group Plc ("Rank" or the "Company") Proposed acquisition of Gala Casinos Limited ("Gala Casinos") Rank announces that it has conditionally agreed to acquire Gala Casinos from Gala Coral Group Limited ("Gala Coral Group") for a total cash consideration of £205 million (the "Acquisition"). The Acquisition includes 23 casinos in Great Britain and three non-operating licences. Gala Coral Group's casinos in Dundee and Gibraltar, its non-operating licence for the City of Westminster (London) and all of the central management functions previously associated with Gala Casinos are not included in the scope of the Acquisition. The Acquisition presents a significant opportunity for Rank to continue to deliver sustainable value to shareholders through the development of its successful casino portfolio: · Creates the largest casino operator in Great Britain by number of casinos with 58 operating venues and 13 non-operating licences o Strongly positioned to capture the long-term growth opportunities presented by the British casino sector o Significant opportunity to deploy Rank's proven management expertise across an enlarged portfolio · Accelerates Rank's programme of estate expansion in Grosvenor Casinos o Rebranding of Gala casinos extends Grosvenor brand into 11 new cities o Roll-out of the proven 'G Casino' format to nine Gala casino locations. The 'G Casino' roll-out has historically generated over 20% year two cash on cash returns · Expected to be earnings enhancing for Rank in the first full financial year of ownership Rank intends to finance the Acquisition along with its related costs and expenses with new three-year bank facilities totalling £175 million together with existing bank facilities.

http://www.investegate.co.uk/Article.aspx?id=201205140700132280D

UBS upgrades Telecity Group from neutral to buy, target price raised from 700p to 900p.

Nomura downgrades John Wood Group from neutral to reduce.

JP Morgan Cazenove upgrades John Wood Group from neutral to overweight, target price raised from 821p to 945p.

Peel Hunt initiates buy on Breedon Associates, target price 25p.

Shore Capital kept its "buy" recommendation for NCC Group (NCC), impressed by the IT security firm's growing brand recognition and ambitions plans. The broker said that the group is developing a new product for protecting large corporations and government agencies from hacker attacks. Shore added that the company plans to invest 6 million pounds in the development of security focused web infrastructure

Panmure Gordon retained its "buy" rating for Asian Plantations (PALM) with a target price of 400p. The broker noted that the palm oil producer successfully raised 100 million Malaysian ringgits (20.2 million pounds) through long term notes, guaranteed by Maybank, as part of a planned 255 million ringgit (51.5 million pound) fund raising plan. Panmure expects the proceeds to be used to acquire a 60% stake in 17,000 hectares of land as part of the firm's continuing expansion strategy. The broker added that the company currently owns 20,800 hectares of land which should be fully planted within the next 14 months.

WH Ireland reiterated its "buy" recommendation for Pittards (PTD) with a 5.88p target price. The leather company has suffered delays in the transfer of its facilities to Ethiopia, leading the broker to lower its full year pre-tax profit forecast for 2012 to 1.5 million pounds, from 2.6 million pounds. However, WH Ireland believes that this is a temporary setback, which will not impede the firm's five year plan to improve cash generation and profitability, helped by lower production costs in Ethiopia. The broker added that the shares trade on a prospective earnings multiple of just 6.3 times, compared to the personal goods sector average of 19.9 times

Investec Securities maintained its "buy" stance on Safestore (SAFE) with a target price of 140p. With the self-storage group successfully completing a refinancing of 400 million pounds the broker believes that the company now has a significantly derisked balance sheet. Investec also noted that Safestore was the first UK business of its kind to complete a placing in the US, with an over-subscribed issue raising 73 million pounds. The broker forecasts full year (ending 31st October) EBITDA growth, before exceptional items, of 5.1% to 53.1 million pounds, on revenues of 102.6 million pounds.

There are many infrastructure funds listed in London, with the unique selling point of 3i Infrastructure (3IN) being its Indian exposure. Last week's full-year results were hit by weakness in its Indian assets, but this doesn't mean it's not a good strategy. Any investment in India will be volatile, but the long-term growth prospects are fantastic. The company has a stake in 3i India Infrastructure Fund, which accounts for about 13% of its assets. The value of which fell £28.7m as a result of a weak rupee and a near-40% fall in the price of one of its listed investments, Adani Power. However, despite the setback in India, the fund managed to grow its net asset value (NAV) per share over the year to 121p from 120.3p. The income from the portfolio over the year of £73.1m fully covered all dividends and company costs. Investors should not expect rapid share price gains, but a steady rate of growth over time, with the income being the priority. Since lifting, shareholders have gained 9.4pc a year including dividends. The shares are at about the same level they were tipped at last year and remain a buy for income, Questor says.

Pump and valves specialist Weir Group has been a favourite of the bears this year on concerns the low US natural gas price would crimp orders for equipment for the shale gas industry. The boom in fracking and shale gas production has resulted in a glut of gas in the US – and it does not yet have the infrastructure to support exports. This has resulted in producers reining in gas developments. However, 32 per cent of total revenues in 2011 were generated by the oil and gas unit – and not all of these orders related to US shale. Last week’s trading update revealed that orders in oil and gas slumped 26 per cent on a like-for-like basis in the first quarter. However, order input at its minerals division rose 18 per cent, which was ahead of expectations. Power and Industrial orders were also strong, up 35 per cent, or 27 per cent on a like-for-like basis. This meant the group maintained its full-year guidance. Questor feels very strongly that the long-term prospects of Weir outweigh the short-term issues in some of its markets. Each of its sectors is in a long-term bull market as the global population rises and demand for energy and basic materials rises. For that reason it concludes by saying that, “Questor maintains a buy on this quality company.”

Rocketing fuel bills, austerity in Spain and losses at the newly acquired bmi will wipe out profits at the parent company of British Airways this year. International Airlines Group, which also owns Iberia, revealed yesterday that it had fallen to a €263m (£211m) quarterly loss over the quiet winter months, more than five times its seasonal deficit of €47m for the same period a year ago. Soaring oil prices are taking their toll on the aviation industry, with IAG’s fuel spending likely to hit €1bn in 2012. BA’s purchase of bmi has added to a short-term financial squeeze, sapping €240m from annual profits, writes The Sunday Times.