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Jean-Paul Luksic, Chairman of Antofagasta plc, commented: 2011 was a solid year for the Group, in terms of both production and profitability, mainly reflecting the impact of the start-up of Esperanza. Copper production of 640,500 tonnes increased by 22.9% and gold production of 196,800 tonnes more than fivefold compared with 2010, and EBITDA was 32.1% higher than the previous year at US$3,660.5 million. The ramp-up of Esperanza was the key milestone for the Group in 2011, contributing 90,100 tonnes in its first year of production. Nevertheless, as we have reported, production was lower than originally anticipated as a result of which Group production was below the original forecast of 715,000 tonnes of copper and 324,000 ounces of gold. We have made significant progress during 2011 in addressing the challenges we have faced at Esperanza during the ramp-up, with remaining remedial measures relating to the performance and reliability of the plant under review. We are forecasting further production growth for 2012, with expected production of approximately 700,000 tonnes of copper, 280,000 ounces of gold and 11,000 tonnes of molybdenum. The increase in the copper and gold production reflects the first full-year of operation at Esperanza following the completion of the main ramp-up activities. We have continued with our consistent and significant capital returns to our shareholders, with total dividends in respect of 2011 amounting to US$433.8 million, which represents an overall payout ratio of 35% of net earnings. We have also made excellent progress with our growth projects during 2011 - with the approval of the Antucoya project, and significant advances in respect of our core areas of the Centinela Mining District and Los Pelambres in Chile, and the Twin Metals project in the United States. As previously announced, Marcelo Awad stepped down as chief executive officer of Antofagasta Minerals S.A. on 7 March 2012. Until a successor is appointed, the Board has requested that I assume his responsibilities on an interim basis. Marcelo had been Chief Executive Officer of Antofagasta Minerals since 2004, and during that time he oversaw the significant growth of the Group's mining operations and development of its projects. I would like to thank him for his leadership of Antofagasta Minerals - his commitment and contribution to the Group over the years has been widely appreciated and we wish him every success in the future. Our strategy remains unchanged and we will continue to pursue profitable growth, supported by our strong financial position and low-cost and profitable operations.

http://www.investegate.co.uk/Article.aspx?id=201203130700212093Z

Northland Capital kept its "buy" rating for Johnson Service Group (JSG) with a 34p target price. The dry cleaning business achieved adjusted pre-tax profit growth of 3.4% to 15 million pounds in its 2011 financial year and the broker added that the 1p dividend exceeded forecasts of 0.9p. Furthermore, Northland noted that the dividend is covered more than four times by earnings and therefore expects to see a steady rise in its size. On the broker's forecasts, the shares trade on an undemanding multiple of 6.1 times for 2013, offering a yield of 4.2%. Shares in Johnson gained 0.75p to 29.25p

Shore Capital upgraded its stance on Premier Farnell (PFL) from "sell" to "hold" ahead of Thursday's full year results release. The broker will be focusing on the long term prospects of the electronic components supplier's international electronics design engineering capabilities. Shore noted the firm's ambitions for developing in North America and Asia, but expects the firm to report weak underlying trading, offset by cost cutting measures. The shares advanced 4.8p to 215.4p.

13th March 2012 Analyst: Steven Moore Email: steven.moore@gecr.co.uk Tel: 0207 562 3370 Avesco Group - Positive First Quarter Results. Forecasts & Target Price increased. Buy at 163.5p, Target Price 260p (from 235p)

Door and window component maker, Lupus, has announced a 75m pound sale of its Gall Thomson subsidiary while also revealing a big drop in 2011 profits. The sale of Gall Thomson, an oil services provider, will allow Lupus to reduce debt by £30m, to 0.7 times earnings before interest tax depreciation and amortisation (EBITDA). Observers might conclude that this has come at just the right time because group sales during 2011 fell 9% to £230.4m. The underlying operating margin also worsened to 9.7% versus 10.3% in the prior year. Lupus blames these declines on challenging construction markets in the UK and the US. As a result of the disposal the dividend has been boosted by 75% to 3.5p per share.

Hunting Sell 13-Mar-12 £206,405.01 Peter Rose 22,302 @ 925.50p

Cobham Sell 12-Mar-12 £83,842.40 Andrew Stevens 38,247 @ 219.21p Cobham Sell 12-Mar-12 £79,131.51 Warren G Tucker 36,098 @ 219.21p

Greg Fitzgerald, the Chief Executive of Galliford Try, the FTSE 250 housebuilding and construction firm, has topped up his stake in the company. The director bought almost £50,000-worth of shares in the firm at the same time Crownway Builders, a company in which Fitzgerald owns 37.5%, sold off more than £2.57m worth. Fitzgerald bought 8,190 shares at 605.00p each, while Crownway Builders sold off 425,402 shares at the same price.

Investec believes that GKN's rumoured potential takeover of Volvo Aero would be a good fit for the engineering group and maintains its buy rating on the stock. "Strategically, this is precisely the area GKN wants to expand, targeting Volvo Aero’s capabilities in the manufacture of advanced aero engine components - a growth area," Gollan said. He said that the deal would mean that Aerospace would account for around 29% of group sales, compared with 23% based on its 2013 forecasts, better balancing the group away from Automotive and into a higher margin business.

UBS has lifted its target price for bourses operator London Stock Exchange (LSE) following last week's acquisition of a majority stake in LCH.Clearnet. "LCH should provide LSE with the scale necessary to access most attractive growth segments in market structure: clearing and derivatives which stand to benefit from the obligation to clear from 2013 and strengthens LSE’s position in post trade services" said analyst Arnaud Giblat.

JD Wetherspoon shares have lost some of their fizz since the pubs chain warned in January that high costs were driving down profit margins. With almost 44% of revenue going straight out of the pub door and into the Treasury's coffers, investors wouldn't be blamed for turning to drink. However, Wetherspoon managed to present a relatively healthy set of half-year figures on Friday, with revenue up 8.4% and pre-tax profit slightly ahead at £33.2m from £32.2m. But analysts focused their attention on the outlook as Wetherspoon warned it would open 10 fewer pubs than expected in the second half and was likely to cut next year's growth plans to 20 to 30 new sites from a previous 50. Like-for-like trading in the six weeks to March 4 was also down 0.7%. Numis Securities said 2012 pre-tax profit could receive a slight boost from fewer pub openings but there are concerns about 2013 growth. Still, it's not yet time for last orders and Questor says hold.

Back in March 2009, Old Mutual was what you might call an undesirable investment. The financial conglomerate had scrapped its dividend after running into difficulties linked to an overzealous acquisition. Since then, the FTSE 100 group's management team – led by chief executive Julian Roberts – has slimmed down the business, exited markets and taken steps to pay down debt. Last year, Old Mutual saw operating profits rise 14% to £1.5bn, allowing the company to announce earnings per share up 13% to 15.7p and a total dividend up 25% to 5p. Curiously, Mr Roberts said the group is also poised to expand its interests in Africa, close to its domestic base of South Africa. The shares are a classic recovery play and should continue to benefit as its structure is simplified. Its focus on Africa should also entice daring investors, says The Sunday Telegraph´s Questor team.

The merger discussions between financial software developers Misys and Temenos Group have been terminated, but Misys remains in talks with its other suitors regarding a potential takeover. Swiss firm Temenos, long thought of as a natural partner of Misys, has been in discussion with its UK peer since the beginning of February, but the two parties have evidently been unable to agree on a price. That leaves the field clear for the two rival private equity challengers, Vista Equity Partners and CVC Capital Partners, the latter working in conjunction with Misys's major shareholder, ValueAct Capital.

Four leading investors in Trinity Mirror have expressed disquiet at the high levels of executive pay at the media company. They are particularly unhappy that Sly Bailey, the chief executive, was paid £1.47m last year, plus a pension contribution of £248,000, at a time when the company's share price has drifted. Four leading shareholders, Schroders, Aviva Investors, Standard Life and Legal & General have met with Trinity's chairman-elect David Grigson and expressed the view that Ms Bailey's pay needs to be cut. Between them, the four own 42% of the shares. One unnamed shareholder reportedly said: "It is excessive by most standards, let alone a company with a market value of about £100m," according to The Telegraph

Britain's manufacturing industry could receive a shot in the arm if the British engineering group GKN succeeds in a planned swoop on Sweden's largest aerospace company that could value it at up to £800m. Although sources close to the talks say a deal is not imminent, GKN is now the clear frontrunner to buy Volvo's aero engine business after other bidders, including Germany's MTU Aero Engines, dropped out. The buyout firms Carlyle Group and Nordic Capital are also understood to have pulled back. The acquisition of Volvo Aero, which makes entire engines as well as parts for aircraft including Saab's Gripen fighter jet and had sales of £616m last year, would be a major expansion of GKN's aerospace business. It is the second largest, by revenue, of GKN's four divisions, The Guardian says.

12th March 2012 Analyst: Emanuil Manos Halicioglu Email: emanuil.halicioglu@gecr.co.uk Tel: 0207 562 3368 The Quarto Group - Initiation of coverage. Book publishing play with a resilient business model. Strong buy with a 253p target price.

Raven Russia, the commercial real estate group focused in Russia, saw profits surge in 2011 helped by high levels of tenant demand and 222,000 square metres of net lettings during the year. Pre-tax profit in the 12 months to December 31st jumped 131% from $55.7m to $128.9m while net asset value (NAV) per share increased by 13.3% from 105 cents to 119 cents. With the shares trading at a significant discount to NAV, the group has proposed distributing 1.75p per share back to shareholders through a tender offer buy-back of one in 39 ordinary shares at 68p. "When we started Raven Russia the aim was to create a high quality, income producing portfolio of grade A warehouses. It feels like we are nearly there," the firm said. The group has 1.03m square metres of finished space, 92% of which is let with an annualised net operating income (NOI) at today's date of $129m. The completed portfolio will product $137m of NOI when fully let, the company said.

CLS Holdings Buy 09-Mar-12 £187,650.00 Sten A Mortstedt 30,000 @ 625.50p

Tony Rice, the Chief Executive Officer of Cable and Wireless Commnutications, has bought up a chunk of shares in the firm, taking advantage of the stock's ongoing decreased share price. Rice, who last year earned $1.08m in a basic pay, cash bonuses of $466,000, and $2.6m from the firm's five-year LTIP plan, bought 2.5m shares at 32.85p each for a total of £821,250. Shares in the FTSE 250 company have fallen over 36% in the past year, over 10% in the past month and 4.5% in a week.