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Oxford Instruments (OXIG) retained its "buy" rating for Singer Capital,with a 940p target price, after the technology company posted a reassuring trading update, with sales and profits up year-on-year. The broker notes healthy performance in both research and industrial markets, and the integration of Omicron and Omniprobe is proceeding well

Panmure Gordon increased its recommendation for Persimmon (PSN) from "hold" to "buy", with a target price of 505p. The broker believes the housebuilding company is well managed and, following the recent price volatility, is trading at around a 33% discount to net asset value. Additionally, Panmure expects the group to announce pre-tax profits of 48.7% in its interim statement on 23rd August, an increase of 23.6% and expects market conditions to remain stable in the following months

A combination of a lower share price and higher earnings for Hunting means that “the valuation now stands on a more attractive price-to-earnings ratio”, says FinnCap, who upgrades its rating from hold to buy. “[The acquisition of Titan Specialities] raises Hunting’s exposure to the higher growth shale gas markets and there are opportunities for Titan to accelerate growth using Hunting’s global distribution and manufacturing footprint […] The deal is significantly earnings accretive in a full year,” said analyst David Buxton. The broker’s target price stays at 850p.

Singer Capital Markets has upgraded its rating on global asset management firm Schroders from fair value to buy, saying that the recent sell-off has “presented an opportunity to invest in a strong business for those with long enough time horizons.” However, while the group’s interim results were in line, the broker said that in the face of current market declines, marking to market estimates results in a 3% and 7% reduction to 2011 and 2012 earnings per share forecasts, respectively. The target price is lowered from 1,900p to 1,780p.

Goldman Sachs has upgraded Cobham from neutral to buy, target price cut from 240p to 225p

Ravi Kailas, Caparo Energy's Chairman and Chief Executive Officer, commented: "The closing of the second tranche of mezzanine financing in a timely manner puts our company in a position to fund over 700 MW of wind projects without any dilution to existing shareholders. We are also pleased with the strengthening of our management team with people who have a proven track record in the industry. By placing 360 MW of orders with Suzlon for delivery by March 2012, the Company demonstrates again its ability to build utility scale wind power projects with an unprecedented efficiency. "As the Company's transformative growth continues, its identity has also evolved. Accordingly, the Company is proposing to change it's name to Mytrah Energy Limited and we are excited by the Company's prospects of trading under this new identity. The Board would like to re-iterate its gratitude to have begun as Caparo Energy and would like to thank the Caparo Group for their on-going support to the Company."

Purchase orders for 260 MW placed with Suzlon Since our previous announcement, CEIL has placed specific purchase orders with Suzlon Energy Limited ("Suzlon") for a further 260 MW of wind projects for delivery by March 2012. When combined with the 100 MW ordered in February 2011, CEIL's total purchase orders have grown to 360 MW, of which 52 MW have already been commissioned, with the balance expected to be commissioned in stages by March 2012. The Company will release further updates of orders being placed for delivery by March 2012 in due course. The new purchase orders for 260 MW cover five individual projects located in the states of Maharashtra, Gujarat, Karnataka and Rajasthan. All of these sites have wind data using a met mast measured at different heights for an average period of over four years and are fully permitted. The Company has selected these sites based on detailed analysis and independent wind studies completed by internationally recognised firms in this field, and the Board is confident that these projects represent some of the best sites being commissioned in India over the next two years and that the Plant Load Factors ("PLF") for these sites are very attractive. Following the placing of these orders, which are ahead of the schedule previously announced, the Board anticipates that by March 2012 the Company will have a total of 500 MW of fully operational projects connected to the grid and generating cash flow. Additionally, the Board expects to achieve the full 1 GW of project orders with Suzlon by March 2013.

Closed Second Tranche of Mezzanine: The Board of Directors of Caparo Energy (the "Board") is pleased to announce that Caparo Energy (India) Limited ("CEIL"), the Company's wholly owned subsidiary, has closed a second tranche of mezzanine funding. This second tranche of mezzanine financing, which is for a 4 year term, of Rs. 1,500m (US$33.5m) is being provided by the Infrastructure Development Finance Company Limited ("IDFC"). As stated in the Company's previous announcement of 20 June 2011, the terms of both tranches of mezzanine financing entail no equity dilution for Caparo Energy's existing shareholders. The Board believes that this will result in enhanced equity returns for investors. The Company expects to repurchase/buy-back both tranches of mezzanine from internal cash flows and the issue of senior debt instruments, bonds or other debt refinancing, within three to five years. The Board believes that securing these two tranches of financing, totalling Rs 5,000 (US$112m), is a significant step forward for the business and anticipates that this additional funding, along with the Company's existing resources, would enable the Company to develop approximately 700 MW of wind projects.

http://www.investegate.co.uk/Article.aspx?id=201108100700100643M

Is the quote re last years finances just bad wording or are they hinting that this year is not going to be as good as last...seems a little ambiguous

"The Directors remain confident of the outcome for the financial year just ended."

Kevin Loosemore, Executive Chairman of Micro Focus International plc, commented:- "It is almost four months since my appointment as Executive Chairman of Micro Focus. I am pleased with the progress we are making and the performance in the 1st quarter. I am increasingly confident that there is significant untapped value in the business which can be realised by delivering the proposed operational turnaround and this is the primary focus of the management team. At the same time we continue to explore the possibility of a transaction consistent with the underlying value of the business to deliver that value to shareholders more quickly."

Offer Period update The Group remains in an offer period and the Board continues to explore the potential to deliver value to shareholders through a transaction more quickly than is likely through the continued operational turnaround of the business. The Board believes that there is merit in continuing the current discussions, although there can be no certainty that an acceptable offer will be forthcoming, nor as to the timing of any such offer. Outlook Due to the continuing offer period the Board is making no changes to the Company outlook for the current year to that stated in the preliminary audited results for the year ended 30 April 2011 issued on 23 June 2011.

Micro Focus International plc Interim Management Statement for the period from 30 April 2011 to 10 August 2011 Micro Focus International plc ("Micro Focus" or "the Group", LSE: MCRO.L) provides its Interim Management Statement for the period from 30 April 2011 to the date of this statement. Financial performance as described relates to the three month period ended 31 July 2011. Trading ahead of Board expectations Total revenues in the three months to 31 July 2011 were ahead of the budget approved by the Board on 14 April 2011 and similar to the prior year comparative period on a constant currency basis. The restructuring activity undertaken in the final quarter of last financial year resulted in costs being lower than the comparable period. As a result of these factors, Adjusted EBITDA was also better than the Board's expectations. Financial position After taking account of the $15m cash paid in acquiring the Group's headquarters building in Newbury and the cash outflow of $6.4m relating to the restructuring charges of $19m that were unpaid at 30 April 2011 the Group had a net cash position at 31 July 2011 of $0.8m. This compares to a net debt position of $14.9m at 30 April 2011 demonstrating further strong cash generation during the period. If approved by shareholders at the AGM in September, the final dividend of 16.2 cents per share will be paid out at the end of September at a cost of approximately $32m. The full year dividend for the year ending 30 April 2011 would then be a total of 23.4 cents per share.

http://www.investegate.co.uk/Article.aspx?id=201108100700100647M

Gem Diamonds and VOX United to hand over Boreholes to residents of the Central Kalahari Game Reserve (CKGR) in Botswana Gem Diamonds Botswana is pleased to announce that it will hand over four boreholes to the Mothomelo, Metsiamanong, Molapo and Gope residents in the CKGR in Botswana at the end of August. Gem Diamonds recently established a partnership with a non-profit making organization, VOX United, to drill boreholes in order to provide the residents of the CKGR with water. Gem Diamonds is contributing to this important community project both financially and with its technical drilling experience. The Managing Director of Gem Diamonds Botswana, Haile Mphusu, said that the Mothomelo borehole has already been equipped and is ready for use while the Metsiamanong, Molapo and Gope boreholes are expected to be equipped by the end of August 2011. In addition, Mr Mphusu said that Gem Diamonds is investigating the sustainable viability of various water purification options to ensure that the boreholes will provide potable water to the residents of the CKGR. Once the boreholes are operational, Gem Diamonds will assist the CKGR residents with the implementation of a sustainable maintenance programme for the boreholes. The borehole drilling programme is a part of Gem Diamonds' ongoing corporate social responsibility and sustainability programme, which is aimed at the development of a lasting, positive legacy through regular, sustained and participative communication and collaboration. The programme will also benefit the local ecosystem as it will provide multiple sources of water at the various settlements in the CKGR.

http://www.investegate.co.uk/Article.aspx?id=201108100700110547M

Songbird Estates, the property group behind Canary Wharf, said on Monday it had signed a deal that will finally realise the full vision outlined in the 1988 masterplan for the Isle of Dogs development. Songbird will build a 20-storey tower at 25 Churchill Place, the last building to be realised in a plan encompassing more than 30 blocks and 15 million square feet of space, says the Guardian.

There will be no more Chicken Tonight at Unilever after the consumer goods group sold its unloved sauce brands to Symington’s, the Leeds-based owner of Golden Wonder and Campbell’s. The Anglo-Dutch group, which has hundreds of global brands from TRESemmé shampoo to Slim-Fast foods, decided to review the slowing British market for its Chicken Tonight and Ragu sauces last October, according to the Times.

xG TECHNOLOGY, INC. SIGNS MEMORANDUM OF UNDERSTANDING (the "MoU") WITH SECURITY NETWORK OF AMERICA ("SNA") 34 Company Alliance Will Evaluate xMax Cognitive Radio Technology for Delivery of Advanced Security and Monitoring Services Sarasota, Fla-August 10, 2011-xG® Technology, Inc. (LSE-AIM: XGTU, "xG" or the "Company"), the developer of a broad portfolio of wireless communications technology, including cognitive radio networks, and SNA, which represents 34 independent security companies serving over 647,000 residential and business customers in the United States, is pleased to announce that they have signed an MoU that will enable SNA to roll out and evaluate xG's xMax wireless networks in selected SNA territories. Collectively, SNA member companies represent the nation's fourth largest security company. xMax will provide SNA members with an all-IP, single network solution for alarm monitoring, voice communications, real-time video and other services. "The SNA is always looking for ways to improve its services and reduce costs for its customers. Like many other industries, wireless technology is playing an increasing role in our business strategy," said David Carter, SNA Managing Director. "xMax offers SNA member companies a way to deliver new and affordable wireless broadband-based services including real-time video monitoring, while potentially extending wireless security services to customers not covered by commercial cellular networks. We look forward to working with xG to strengthen SNA member businesses." SNA partners with leading equipment providers from around the Globe. These partnerships assure customers are afforded not only the latest in security technology, but also the backing of some of the most recognized names in the industry. SNA continually searches for and tests innovative products and technologies to add to its customer offerings. "We are excited to be working with the SNA and are proud to be associated with this premier group of independently operated security companies in the United States," said John Coleman, xG CEO. "The interest demonstrated by SNA illustrates the versatility of our xMax cognitive radio system to provide robust and affordable wireless broadband solutions to additional industries beyond traditional telecommunications markets." The MoU is another example of growing interest demonstrated by leading companies who have been exposed to xMax's capabilities. Increased MoU and purchase order activity from companies in a number of market verticals is being driven by xMax's ability to demonstrate significant benefits to their customers and businesses.