Member Info for mulledwine

BUY: GREENE KING "One of my most recent ideas is a regional brewer, Greene King. It combines a collection of several thousand (mostly freehold) pubs with a significant brewing division, which produces popular real ales such as Greene King IPA and Old Speckled Hen. "We're buying shares for two reasons: the first is a long-term strategic one. The brewer offers fantastic protection against inflation because it owns a lot of good-quality property. "Greene King has built up its estate of pubs over generations, since the 18th century. Some are in fantastic locations, and are places where people have been meeting for a drink and a chat for years, and where their children's children continue to go. "A further protection against inflation is the fact that people will go to pubs in most economic environments - it takes a lot to persuade them to stop. "The second reason we are buying Greene King shares is more tactical and short term. Over the past three or four years, its price has fallen significantly as this type of company has been out of favour. And although it's not a pub company as such, its share price has fallen in sympathy with the problems in the rest of the sector. "This has given us a good opportunity to start buying its shares. Traditional pub companies have suffered from too much debt, but the regional brewers have come through the recession in a lot better shape. "By the standards of the industry, our approach is unusually long term and strategic: our turnover is around 7% a year. When we build up a holding, we hope to have it for about another 10 years. With that time horizon in mind, this is a good time to be buying Greene King." Nick Train, Moneywise

Goldman Sachs retains buy on Weir Group, target price raised from 3200p to 3300p

Iwsd - good call - considering how most shares are down, then a +4p here is definitely a bounce as it did not follow the pack into the red.

Collins Stewart downgrades Amlin from hold to sell

Rexam H1 profit jumps on strong beverage can demand Date: Wednesday 03 Aug 2011 LONDON (ShareCast) - The world’s largest beverage can maker Rexam reported sparkling first half profits as better than expected demand for beverage cans in Europe offset the weakness in its plastic packaging unit. For the first-half of the year, total sales were flat at £2.49bn. For the period, organic operating profit for the beverage can segment rose 12%, whereas operating profit for the plastic packaging business fell 2%. Rexam said it is “taking action to address the underperformance of plastic packaging as a whole” by negotiating price increases with customers to offset the impact of higher resin costs and closing underperforming units. The company had previously announced the sale of its closure business for $360m. “Looking ahead, we will concentrate on return on capital, costs and cash generation and expect continued good performance for the rest of the year," Rexam said in its statement. Shares of the company rose 5.7% to 374.1p in morning trading in London.

Commenting, Graham Chipchase, Rexam's chief executive, said: "We are pleased with the continued progress of the business in the first half. Beverage Cans traded better than expected driven primarily by our business in Europe. The mixed performance in Plastic Packaging continues to be a challenge in some areas and we are focused on improving the results in this business. Looking ahead, we will concentrate on return on capital, costs and cash generation and expect continued good performance for the rest of the year."

Highlights • Underlying profit before tax £236m - up 19% • Good free cash flow of £95m - net debt reduced to £1.6bn • Return on capital employed (ROCE) improved to 13.2% • Beverage Cans organic2 operating profit up 12% • Plastic Packaging3 organic2 operating profit down 2% • Sale of Closures business agreed for $360m • Interim dividend 4.7p - up 18%

http://www.investegate.co.uk/Article.aspx?id=201108030700116194L

Peel Hunt initiates buy on Tissue Regenix, target price 20p

Kepler downgrades Logica from hold to reduce, target price cut from 140p to 110p

hmmm Deutsche Bank recommends sell Spirit Pub, target price 40p

Interim Management Statement CML Microsystems Plc ("the Company"), which designs, manufactures and markets a broad range of semiconductors, primarily for global communication and data storage markets, today held its Annual General Meeting at Layer Marney Tower, Essex. Following the formal proceedings of the AGM and as required by the UK Listing Authority's Disclosure and Transparency Rules, the following Interim Management Statement was read to shareholders by Chairman, George Gurry: Interim Management Statement This statement relates to the period from 1 April 2011 to 2 August 2011 and embraces the unaudited results for the Group's opening trading quarter for the financial year ending 31 March 2012. Continuing growth The Group's operating results for the opening quarter are ahead of internal expectations and reflect the ongoing positive trading conditions that were a hallmark of the prior full financial year. Comparable period revenues are ahead in the major target market segments and geographic regions whilst on a customer basis, advances have been broadly based. The gross margin has remained stable and the group continued to improve its net cash situation whilst also funding necessary working capital requirements. There have been no other material events or transactions since 1 April 2011. Outlook The Board remains confident of an improvement in profitability for both the six-month and full year trading periods.

http://www.investegate.co.uk/Article.aspx?id=201108031130016602L

Always business here whatever the financial upheaval in the world

Graham Porter, Chairman commented "We believe that the proposed change in strategy is in the best interests of shareholders and are confident that we can identify a suitable business which can deliver value for shareholders."

Trading Update and Proposed Change in Strategy Mentum Inc (MEN.L), announces that it intends to report its unaudited interim results for the six months ended 30 June 2011 during the week commencing 26 September 2011. The Board expects to report a small trading profit from its existing LME trading activities but will record a loss at Group level reflecting the impact of the run-off of executive salaries through notice periods and some restructuring costs against lower activity levels from the closure of all ancillary activities including the asset management business. The period post 30 June will reflect the results of LME trading activities against a lower cost base as the majority of these run-off costs will cease during H2 2011. Having considered the size and nature of the business which will remain following this period of restructuring, the Board is seeking a purchaser for the LME trading activities and has received an expression of interest which is being considered by the Board. A disposal of the LME trading activities will allow the Company to focus on an alternative investment proposition that can deliver enhanced value to shareholders Such a disposal would constitute a fundamental disposal pursuant to Rule 15 of the AIM Rules and would require the approval of shareholders. Following such disposal, Mentum will be classed as an Investing Company under Rule 15 of the AIM Rules and the proposed investing strategy will be included in a circular to be sent to shareholders in due course, assuming an acceptable offer is forthcoming for the LME trading activities Having reviewed a number of potential business sectors and potential opportunities it is the opinion of the Board that the Company's investing strategy should be to seek business opportunities in the Oil & Gas sector and is confident that it will be able to identify a suitable business to acquire. The Company will update shareholders in due course with further progress.

http://www.investegate.co.uk/Article.aspx?id=201108030700116215L

RECOMMENDED CASH OFFERS BY SMITHS NEWS PLC FOR DAWSON HOLDINGS PLC Announcement of Acceptance Levels and Extension of Offers Smiths News announces that, as at 3.00 pm on 2 August 2011, being the first closing date of the recommended cash offers for the entire issued and to be issued share capital of Dawson Holdings PLC ("Dawson")by Smiths News PLC ("Smiths News") (the "Offers"), valid acceptances of the Ordinary Offer had been received in respect of a total of 63,398,118 Dawson Ordinary Shares, representing approximately 88.32 per cent. of the Dawson Ordinary Shares to which the Ordinary Offer relates. This total includes acceptances received in respect of 16,046,969 Dawson Ordinary Shares (representing approximately 22.4 per cent. of Dawson's existing issued ordinary share capital) which were subject to irrevocable commitments procured by Smiths News. Smiths News confirms that the total number of Dawson Ordinary Shares under options and subject to irrevocable commitments procured by Smiths News is 135,502. Of these, it is anticipated that only 20,000 Dawson Ordinary Shares, being Dawson Ordinary Shares under options under the Dawson Encouraging Executive Share Option Scheme ("EESOS") and representing approximately 0.028 per cent. of Dawson's fully diluted ordinary share capital, will receive an appropriate proposal from Smiths News in accordance with Rule 15 of the Code. Awards of Dawson Ordinary Shares under the EESOS will only be made following the Offers becoming unconditional in all respects. Therefore any Dawson Ordinary Shares issued to participants of the EESOS will not count towards satisfaction of the acceptance condition to the Ordinary Offer. Smiths News also confirms that 25,623,586 Dawson B Ordinary Shares, representing 100 per cent. of Dawson's existing issued B ordinary share capital and to which the B Ordinary Offer relates, remain subject to an irrevocable commitment procured by Smiths News from the PPF and will be assented to the B Ordinary Offer in due course in accordance with the terms thereof. Offers extended to 16 August 2011.............................. ........

http://www.investegate.co.uk/Article.aspx?id=201108030700126223L

Market wont like this update