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31 January 2012 F&C Asset Management plc ("F&C" or "the Group") is today updating the market on its Assets under Management ("AUM") at 31 December 2011 and business flows for the fourth quarter of 2011. Except where specified otherwise this statement covers the three months to 31 December 2011. Highlights · Assets under Management ("AUM") of £100.1 billion at 31 December 2011 · Group net outflows in Q4 2011 were due principally to strategic partner assets, including £1.3 billion from the nationalisation of the past pension obligations of Portugal's largest banks · Positive asset performance of £2.5 billion in Q4 2011 partially offset by FX movements · Net inflows into third-party institutional mandates during Q4 2011 with a further £1.2 billion pipeline of mandates awaiting funding at 31 December 2011 · Cost reduction programme remains on schedule

http://www.investegate.co.uk/Article.aspx?id=201201310700214356W

In the Telegraph Questor bangs the drum for Ryanair after a positive trading statement yesterday. The firm grounded 80 aircraft last year and increased prices. The result is a lift in its forecast full year profits from €440m to €480m. With economic news bad, people will probably choose the low cost carriers, none more so than Ryanair. On this basis, Questor believes the Irish airline is a buy.

I am surprised not to see a little positive movement with the SP today....still a horrible spread here

Mark Dixon, CEO of Regus, comments: “Any business that wants to grow needs to find new markets, and Africa is an important development market for companies of all sizes. To help our customers grow, we have invested significantly in new centres in Africa opening the way for businesses to explore these emerging and frontier markets. Our network of high-quality, flexible accommodation is enabling companies in all sectors to find new markets and better ways to work.”

egus Opens Doors for Business in Madagascar Businesses in 95 countries have the option to work better Global workspace provider Regus has opened its first business centre in Madagascar, its 95th country. The centre will help businesses of all sizes to access new revenues in the region whilst keeping down the costs of expansion. The Madagascar opening is part of a rapid extension of Regus’ network in Africa and worldwide. In 2011 the company announced it would grow its network by at least 75% by 2014, adding some 30 new countries. Africa is a key development market in Regus’ expansion: in 2011, it added Uganda, Ivory Coast, Zambia to its network which stretches across the continent. The growth of the Regus network is helping more and more companies to open up new revenue streams in Africa’s emerging and frontier markets, without the high upfront costs of taking on long-term space abroad. These markets offer huge opportunities to businesses in all sectors, with The Economist predicting that seven of the world’s top ten fastest-growing economies in 2011-15 will be in Africa. The opening of the centre in Madagascar comes as the Malagasy economy recovers from a period of political instability. Growth is predicted at 2.8% in 2012, as mining companies scale up production and tourism strengthens.

http://www.investegate.co.uk/Article.aspx?id=20120131080000Z0605

Chairman Ronald Duncan said: - "I am delighted with the progress that we have made in the last year and with the strong demand that there is for our services. We have seen significant growth in the year, in particular from our e-commerce business, and with an expanded sales team and a strengthened balance sheet look forward to another successful year in 2012."

Yes not bad - nearly made it into profit - not quite.

Outlook ARM enters 2012 with a robust opportunity pipeline for licensing and a record order backlog, helped by new product introductions and new markets. In addition, market share gains in long-term growth sectors look set to continue as our Partners introduce new chips based on ARM technology. Given industry analysts are forecasting that semiconductor revenues declined about 10% sequentially in Q4 and given ARM's very strong license revenues in Q4, we expect group dollar revenues for the first quarter to be in-line with current market expectations of around $200 million. For full-year 2012, the global macro-economic situation remains uncertain and is likely to influence consumer and enterprise spending, thereby potentially impacting semiconductor revenues and industry confidence. Assuming the macroeconomic situation does not deteriorate significantly, we expect group dollar revenues for the full-year to be at least in line with current market expectations of just over $860 million.

trevi - you may well be right - did you go for it?

Chip designer ARM Holdings saw full-year revenues rise 21% from £406.6m to £491.8m in the 12 months ended December 31st. Pre-tax profits jumped 37% from £167.4m to £229.7m, while earnings per share rose from 9.34p to 12.45p. Meanwhile, the full-year gross margin, excluding share-based payments costs of £3.5m, improved from 94.3% to 95.1% in 2011. The board has recommended a final dividend of 2.09p per share, up 20% on the year before. This gives a total dividend of 3.48p, also an increase of 20%.

http://www.investegate.co.uk/Article.aspx?id=201201310700114539W

In the Independent, Sharewatch gives Marks & Spencer the once over. The problem for M&S is that margins are being squeezed both in its high quality food offering and also in general merchandise. It does pay a decent 5% yield and can continue to do so on the basis of its current cash position. But, as a retailer, it trades at 10 times earnings which looks quite pricey, especially as the economic news is likely to be grim for a while. Sharewatch says hold for now unless the stock dips below 300p, in which case it may need revisiting.

The Times’s Tempus column weighs up recruitment firm SThree, which has had a pretty rough time as of late, falling 35% in the last 12 months. The case for a buy is based on geographic spread, with nearly 80% of profits generated outside of the traditional British IT market. The Middle East, India and Brazil are much happier hunting grounds now. While banking is obviously not going well, oil and gas is booming and SThree often returns cash to shareholders with a special dividend of 11p per share announced in December. But at 17 times earnings, Tempus thinks now is not the time to wade into the stock. Hold.

Britain has swapped beef for pork, causing sales of the white meat to jump, according to Cranswick. The company, the largest British-owned pork processor, saw its shares increase 1.45% after it released an upbeat trading statement.Sales in the final three months of 2011 were up 10% on the previous year, marginally stronger than the increase in the overall British pork market, which increased by 9%. Bernard Hoggarth, chief executive, said that pork shoulder and rolled joints had sold particularly well, helped by being championed by celebrity chef Jamie Oliver as an ideal meat for consumers looking to cut down their food bills, The Telegraph says.

The board of oil explorer Cairn Energy will go back to its institutional shareholders with new pay proposals for chairman Sir Bill Gammell after the firm yesterday pulled a vote proposing to give him a £2.5m bonus. Last week, the company backed down from awarding the company’s founder the proposed bonus, which was to include a further £1m donation to charity, after a number of large shareholders told the board they would vote against the deal. The firm also met opposition from the Association of British Insurers, which issued a “red top” alert objecting to the granting of the shares, which would vest in three years but had no performance conditions attached, according to The Scotsman.

ENK CORPORATE Cash Position As of 31 December total cash in hand was $38.3m. This does not include recent proceeds from DSO that have been loaned to local partner Montemina Resources Corporation and are scheduled to be repaid shortly. Cash and receivables will comfortably complete the company's feasibility study at Acoje and provide a significant level of working capital for ongoing operations. Sale of Caldag The sale of the Caldag project was concluded in mid November with the execution of share sale documentation and receipt of the outstanding balance of $34m of the purchase price of $40m. The Company has no further obligations to the project or outstanding liabilities to the new owners. Project Finance The Company has commenced the process of reviewing the financing options available for the Acoje project. Endeavour Financial was appointed in a debt advisory capacity for the Acoje project during December and will be working closely with the Company to finalise the financing structure to coincide with completion of the BFS.

FOR THE PERIOD ENDED 31 DECEMBER 2011 HIGHLIGHTS · $40m proceeds received from the sale of Caldag · Acoje Bankable Feasibility Study running to schedule · Tank leaching chosen as preferred processing methodology · First nickel production from pilot plant · DSO shipping continuing

http://www.halifaxmarketwatch.co.uk/rns.cgi?username=&ac=&action=news&rns=1&view=full&story_id=19844137