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Shore Capital kept its "buy" recommendation for Beazley (BEZ), impressed with the insurance firm's ability to return a pre-tax profit of 62.7 million dollars (39.7 million pounds) for the 2011 financial year. Additionally, the group saw a decline in net tangible asset value of just 1% to 115p per share, well ahead of the broker's target of 110p. However, Shore reduced its forecast for the 2012 dividend to 8.3p, representing 5% growth, which is at the bottom end of expectations. Beazley shares crept up by 0.6p to 147.7p.

N+1 Brewin continues to view Grainger (GRI) shares as a "buy", with a target price of 160p. The residential landlord's sales pipeline stood at 118 million pounds on 31st January and the broker added that margins on completed sales improved year-on-year from 38.7% to 41.1%. Brewin also noted that the shares trade at a 49.3% discount to forecasted NAV of 209p, while the company continues to benefit from improving market rates on renewals and new lets. The shares were unchanged at 106p.

Panmure Gordon reiterated its "buy" recommendation for Kingfisher (KGF) with a 350p target price. The broker believes that the home improvement retailer has significant growth potential and is capable of doubling its business in Poland and Spain, as well as quadrupling in Russia. Panmure also noted that the firm plans to rationalise its 150 brands into just 10, providing greater name strength. The broker forecasts earnings of 24.62p for the 2012 financial year, putting the shares on a prospective multiple of 11 times. Shares in Kingfisher edged up by 0.6p to 272p.

Stella David, a non-executive director of Homeserve, the emergency repair group, has stocked up on shares in the firm with a £44,255 purchase. David, who joined the board in November 2010, bought 17,688 at 250.20p each, less than a week after the firm announced 200 job cuts. Despite the cuts, the firm assured investors that its full-year profits will be in line with expectations even though its recent travails are still preventing the group from restarting some marketing operations.

Analyst Briefing Electrocomponents, the world's leading high service distributor of electronics and maintenance products, is today hosting a presentation for analysts on its businesses in Asia Pacific, with a particular focus on its operation in China. The Group's Asia Pacific business is the region's market leader, operating across twelve countries. It has significant growth potential and the opportunity to be the fastest growing region in the Group in the coming years. No material new information will be disclosed. Copies of the presentations will be available at http://www.electrocomponents.com/investor-centre after the meeting.

Following the sale of Old Mutual's Nordic businesses, UBS has raised its target price for the savings and investment group and reiterated its buy rating.

Dairy Crest Group plc ("Dairy Crest") and Quadra Foods Limited On 2nd February 2012 Dairy Crest issued an Interim Management Statement in which it confirmed that overall trading was in line with its expectations. Its underlying trading has continued to be in line with expectations since that date. Dairy Crest wishes to inform the market that a customer, Quadra Foods Limited ('Quadra'), has called in Administrators. As a result Dairy Crest anticipates it will increase its bad debt provision by up to £4 million. This is the total debt owed to us by Quadra although we are looking at several options to reduce the amount involved. We expect to treat any charge as an exceptional item in 2011/12 and as such it will not impact on our dividend considerations. Dairy Crest has annual sales of £1.6 billion and this is an isolated incident. It will have no material effect on our year end borrowings.

http://www.investegate.co.uk/Article.aspx?id=201202130703282806X

http://www.investegate.co.uk/Article.aspx?id=201202130752542818X

Financing Adjusted net debt at 31 December 2011 was lower than the corresponding point in the prior year and in line with management expectations. Year end adjusted net debt is expected to be slightly higher than market consensus reflecting increased film content investment in the final quarter. However, the Group expects to maintain its net debt to EBITDA leverage ratio at below one times EBITDA, and continues to enjoy access to significant additional capital through its undrawn debt facilities to take advantage of new investment opportunities. The Group's short term Television Production financing was higher than the prior year reflecting increased investment in an expanding production slate. Outlook The Group expects to report full year results in line with market expectations with the continuing strong performance of the Entertainment businesses more than offsetting the impact on earnings of weaker results in Distribution.

Hello radar - are you in with these guys yet ?

Jubilant Energy NV ("Jubilant" or the "Company") Appraisal well spudded in DeenDayal East area of Krishna Godavari Block (KG-OSN-2001/3) Jubilant is pleased to announce that the appraisal well DDE-A-2 was spud on 9 February 2012. DDE-A-2 is being drilled in a water depth of 99 metres utilising the Deep Driller-1 rig from Aban Offshore Limited. This is the third appraisal well in the Deen Dayal East ("DDE") area of the KG-OSN-2001/3 block. The target depth of the well is 5,300 metres true vertical depth with the objective of appraising the lower Cretaceous Early Rift fill sands that were shown to be hydrocarbon bearing by the KG-16 discovery well. This is the eighteenth well to be drilled by the consortium in the block. The last 13 wells drilled all flowed gas and condensates. Of these wells, four were drilled in Deen Dayal West, three in Deen Dayal East (including two appraisals wells), two in Deen Dayal North, two in Deen Dayal North East-BRU and two in Deen Dayal Downthrown. Jubilant holds a 10% participating interest in this block through its subsidiary Jubilant Offshore Drilling Private Limited in India. Gujarat State Petroleum Corporation Limited, with an 80% participating interest, is the Operator of the block.

http://www.investegate.co.uk/Article.aspx?id=201202130700142805X

Kerr Anderson, Ormonde's Managing Director, said: "Having now received all the components of the DFS for the Barruecopardo tungsten project, final collation is underway and I look forward to reporting the results by late February. This will be a key milestone in the Company's plans to become a major European producer of tungsten concentrates. With aggressive drilling programmes underway on our copper and gold assets, I also anticipate being in a position to report developments on these fronts over the coming months."

Update on Spanish Operations The Board of Ormonde is pleased to provide an update on progress on its various projects in Spain. BARRUECOPARDO TUNGSTEN PROJECT The Definitive Feasibility Study ("DFS") for the Barruecopardo tungsten project is now substantially complete with all the constituent components having been received from the relevant consultants. These inputs are being reviewed and collated into the final DFS document. The DFS will be completed and its results announced by late February, allowing the Company to advance its on-going discussions with the various parties interested in funding the project. LA ZARZA COPPER PROJECT The 3,000 metre drilling programme, fully funded by our Joint Venture partner Antofagasta Minerals SA, commenced in January on specific drill targets identified following modelling and interpretation of the gravity and airborne VTEM (electromagnetic) geophysical survey results received in Q4 2011. Several targets will be tested by drilling, with a priority on those where the geology is interpreted to be similar to that for the existing La Zarza deposit. SALAMANCA & ZAMORA GOLD PROJECTS Drilling is on-going on the El Facho gold structure, where our Joint Venture with Aurum Mining Plc is focused on testing and expanding this structure. This follows very encouraging initial drilling results reported in Q4 2011 showing gold of mineable grades and widths in both of the first holes drilled by the Joint Venture on the structure. Core samples from the first holes in the current drilling programme have been forwarded for assay.

http://www.investegate.co.uk/Article.aspx?id=201202130700122582X

In addition, total prospective and contingent resources increased 71% on an unrisked basis and 117% on a risked basis, from 39 to 68 million barrels and 18 to 40 million barrels respectively. Exillon WS: The estimate of the total 1P oil reserves within the Exillon WS license area has increased 24% from 52 million barrels to 65 million barrels, the estimate of 2P has increased 6% from 139 million barrels to 160 million barrels, and the estimate of the 3P has decreased 12% from 302 million barrels to 267 million barrels. Exillon TP: The estimate of the 1P oil reserves within the Exillon TP license areas has increased 1% from 59.6 million barrels to 60.2 million barrels, the estimate of 2P oil reserves has increased 6% from 99 million barrels to 105 million barrels, and the estimate of 3P has decreased 3% from 137 million barrels to 132 million barrels. The updated reserves report for Exillon Energy plc was recently completed by Miller & Lents and the effective date is 1 November 2011. Capital Markets Day Exillon intends to host a capital markets day in London soon after the publication of its preliminary results for the 2011 financial year. One purpose of this event will be to communicate further details and an analysis of the reserves report. Confirmation regarding timing, location and attendance of the capital markets day will be distributed via RNS in the next few weeks.

http://www.investegate.co.uk/Article.aspx?id=201202130700142803X

Last week, Reckitt Benckiser´s chief executive, Rakesh Kapoor, unveiled the company´s “new strategy for continued outperformance,” along with a new vision and purpose. “Our vision is a world where people are healthier and live better. Our purpose is to make a difference by giving people innovative solutions for healthier lives and happier homes,” he said. The next billion consumers will be found in emerging economies where the middle class is growing fast. However, the move is slightly behind the curve. This focus on emerging markets has been Unilever’s strategy for a number of years. Spirits group Diageo has also deployed a similar plan. Growth looks likely to be pedestrian but the company remains a cash-generating machine. This week’s gains have closed the earnings multiple gap with Unilever. Reckitt shares are trading on a prospective 2012 multiple of 14.5 and Unilever is on 14.9. Although Reckitt’s management is top-notch, Unilever is further down the line with its move into these markets. There are also questions over how popular brands such as Airwick and Clearasil will be in fledgling economies. Questor now prefers Unilever and investors should use gains in the past week to sell Reckitt shares Questor says.

The shipping industry has been in the headlines recently as freight rates have plunged, but James Fisher's specialist expertise is in demand. Last week, Fisher unveiled a new five-year contract with BP Angola to provide export tanker support services off the coast of the West African country. Fisher will operate three anchor handling tugs, which it will charter, and provide diving services for the mooring operations. No financial details have been released but analysts have calculated that the contract is worth $30m (£19m). This means the contract is a good win and consensus earnings forecasts are likely to rise. The shares, which remain a buy, are trading on a December 2012 multiple of 11.3 times, falling to 10.3 in 2013. The prospective yield is 3%. The Sunday Telegraph´s Questor team says buy.