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Daniel Stewart initiated coverage on CML Microsystems (CML) with a "buy" recommendation and 351p target price. The broker said that the semiconductor manufacturer has developed a strong position in the flash memory microcontrollers market following the acquisition of Hyperstone. Additionally, the Wireless IC business accounted for 42% of first half sales and the broker noted that it diversified the group's revenue base. The broker forecasts earnings of 19.8p for the year ending March 2013, putting the shares on a prospective multiple of 14.3 times. The shares inched down by 0.5p to 283.5p

Barclays Capital downgrades Anglo American from equal weight to underweight, target price cut from 3000p to 2650p

Investec raises target from 400p to 410p, buy rating kept.

Bodycote: Jefferies maintains buy recommendation and 475p target;

Ashtead: Jefferies reiterates buy rating and 300p target

Following KCOM's trading update this morning, finnCap has raised its target price for the telecoms group from 100p to 110p and reiterated its buy rating.

Accelerated Pension Payments The strength of the Group's financial position is such that we have taken the decision to make an accelerated payment of £10.0 million to the Group's defined benefit pension schemes. This comprises £6.9 million of advance payment to FY13's previously committed deficit contributions and an additional one-off contribution for FY12, of £3.1 million. As well as reflecting the wider financial strength of the Group, making these payments in the current financial year allows the Group to benefit from the higher corporation tax rates of 26% in FYE March 12, compared to 24% in FYE13. We expect the resulting net debt to be no greater than £80.0 million at 31 March 2012 (31 March 2011: £82.0 million). Outlook We expect the Group's full year results to be in line with market expectations. In addition, the Board reiterates its commitment to delivering a minimum of ten per cent per annum dividend growth in this, and the subsequent financial year, reflecting its confidence in the Group's future cash generation and performance. KCOM Group will announce its preliminary results on 22 May 2012.

KCOM Group PLC (KCOM.L) Pre-close Statement KCOM Group PLC (KCOM) issues the following statement for the period ending 31 March 2012, prior to entering the close period for its preliminary results. Current Trading Current trading remains consistent with trends reported at the interim results in November. Our KC brand continues to benefit from sustained growth in broadband penetration across the East Yorkshire network area, with customers attracted to bundled offerings in particular. In addition, and three years ahead of the Government's 2015 targets, we are able to provide broadband services with a minimum 2Mbps download speed to all households and businesses across our KC network. The Kcom brand continues to see progress on securing multi-year recurring revenues to support longer term sustainable growth. Our focus on opportunities within the emerging Public Services Network (PSN) market has been maintained, as confirmed by the recent signing of the contract for East Midlands PSN. Progress has also been seen within the enterprise market, where we have recently signed contracts with Molson Coors, United Utilities and iPSL for a range of communications and managed services. Our Smart421 and Eclipse brands continue to make good progress with their own growth momentum.

http://www.investegate.co.uk/Article.aspx?id=201204020700205491A

Peter Rogers, Chief Executive of Babcock commented 'We are delighted to have become the PBO for Dounreay. We have established a world-class partnership and are looking forward to using our international decommissioning and site management expertise to complete this major decommissioning and closure programme.'

Babcock International Group PLC (Babcock or the Group) Contract Signature - Dounreay PBO Babcock Dounreay Partnership (BDP) has today, 2 April 2012, been formally awarded the contract to manage the decommissioning, demolition and clean-up of the Dounreay nuclear site having officially taken ownership of Dounreay Site Restoration Ltd (DRSL). The contract awarded to BDP, a joint venture (jv) between Babcock, CH2M HILL and URS, by the Nuclear Decommissioning Authority (NDA) takes effect immediately and makes BDP the new Parent Body Organisation (PBO) for Dounreay. The total anticipated contract value to BDP is expected to be in the region of £1.6 billion. Babcock holds a 50% share of the jv. BDP will be responsible for taking the decommissioning programme at Dounreay to its interim end state and has set out an accelerated programme to achieve this between 2022 and 2025 (up to 16 years earlier than the 2038 date estimated two years ago) and reducing project costs by well in excess of £1 billion.

http://www.investegate.co.uk/Article.aspx?id=201204021210236061A

some coverage Vectura study reaches end point of third phase of study Drug developer Vectura has announced that the first three QVA149 Phase III studies in the treatment of chronic obstructive pulmonary disease (COPD) all met their primary endpoints. 02 Apr 2012 - 11:34 Drug developer Vectura has announced that the first three QVA149 Phase III studies in the treatment of chronic obstructive pulmonary disease (COPD) all met their primary endpoints. The results demonstrate the potential of the product as a treatment for COPD. Chief Executive Dr Chris Blackwell said: "Achieving the primary endpoints in all three of the Phase III studies gives us confidence that QVA149 could be the first product of this type to provide benefit to patients with COPD in a multi-billion dollar market that is still growing. "QVA149 is an investigational inhaled, once-daily, fixed dose combination of the long acting beta2-agonist (LABA) indacaterol, and the long-acting muscarinic antagonist (LAMA) glycopyrronium bromide (NVA237). Data from the clinical trial program, examining QVA149 in a number of settings, will be submitted for presentation to a major medical congress later this year." The share price rose 5.07% to 57.00p by 11:43

Mine River Block Airborne Magnetics Survey Connemara Mining Company plc ("Connemara" or "the Company") (AIM CON) and Hendrick Resources (Ireland) Ltd ("HRI") are pleased to announce that an Airborne Magnetic & Electromagnetic Survey has commenced over the 5 license blocks of Connemara Mine River licences held in the Wicklow/Wexford area of Ireland. Connemara has a joint venture over these licences with HRI, a private Canadian company. HRI will also survey its adjacent block of 11 licences. The aim is to aid in the structural and geological interpretation of the region and to focus exploration efforts in the areas highlighted by this survey. The principal element of the survey is to look for magnetic anomalies which can frequently be associated with gold mineralisation. The airborne operator is Terraquest Geophysics - a highly experienced international geophysical company from Ontario Canada.

http://www.investegate.co.uk/Article.aspx?id=201204020857565719A

Down 23.62% as I type

CONT Concurrent with separate stand-alone refinancing processes by the Company and its UK tenant, the parties are in discussions with banks about a joint refinancing as part of a potential combination of the majority of the Group's UK property assets and the owned and operated properties of the UK tenant. Such a refinancing would establish a solid financial platform for the combined businesses, but is unlikely to generate short term cash proceeds for the Group. Shareholders will be consulted before consummation of any transaction or series of transactions leading to a material change in the Group's business. Discussions are on-going and further announcements will be made in due course, if appropriate. The Directors would also caution that in present market circumstances, with challenging conditions for the UK care home sector, particularly for operators with external landlords, and patchy demand in the investment market for healthcare properties, the likelihood of outright disposals for acceptable cash consideration in an acceptable timeframe is low. Consistent with this market backdrop, the Group has experienced increases in the capitalisation rates applied to its investments properties in all jurisdictions and consequently significantly reduced valuations of these investment properties, as reported by independent valuers, a trend which is expected to continue absent a material change in market circumstances. As previously announced, the Company is reviewing its dividend and distribution policy as part of its strategic review. As set out above, the result of the review may lead to a material change in the nature of the Group's business and resultant recurring cash generation, but also in potential ad hoc cash generation as a result of transactional activity. The Directors would caution that a completed refinancing of short term debt facilities is likely to be a prerequisite before distributions can legally and properly be made. In view of the strategic review and potentially material change in the Group's business, the Company has given notice to terminate the Asset Management Agreement with RP&C International. The asset manager will continue in its current role during the 24 month notice period. The Company anticipates that it will release its final results for the financial year ended 31 December 2011 in late April.

Strategic Review Update PSPI (AIM: PSPI), the specialist European care home real estate investment and financing company, announces an update on its previously announced strategic review. Further to its announcements on 30 September and 19 December 2011, the Company wishes to provide an update on the status of the strategic review being undertaken by the Company. The aim of the review is to maximise shareholder value and all options for the Group's assets and the Company as a whole continue to be considered. As previously announced, the Group has appointed local advisers to test the appetite for its real estate assets in each of Germany, Switzerland, and the US. This is still on-going, and no timetable has been set for its completion. The Group has continued its review into the strategic options available for its UK real estate assets, which consist of 39 care home properties which are let on long term indexed leases to a number of tenant operating companies which are under common ownership. These assets are owned by a number of individual Group property companies, which have raised senior secured debt under three different stand-alone facilities with three different financial institutions, the largest of which is a facility maturing in September 2012. As set out in its financial statements, the Group is exposed to property price and market rental risks, which are accentuated by concentrated exposure to a single tenant group for its UK properties, and capital risk management considerations which require conservative loan-to-value ratios in the context of external tenants whose operations and revenue streams are not under the Group's control.

http://www.investegate.co.uk/Article.aspx?id=201204020700125663A

Galliford Try chief executive Greg Fitzgerald commented: "We are delighted to have reached an agreement with our partners to build this much-needed housing in the Gateshead area. We believe that this new local asset backed model with Gateshead Council and Home Group represents an innovative solution to enable Galliford Try and its partners to significantly improve affordable homes supply and sustainable communities in the North East."