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http://www.investegate.co.uk/Article.aspx?id=201107210700157929K

Horizonte CEO Jeremy Martin said, "These ongoing results are excellent. We have numerous high grade intersections which will add greatly to the upcoming revised mineral resource estimate due in Q4 2011. Wardell-Armstrong International has been appointed to undertake the Preliminary Economic Assessment of the project and all elements, additional drill rigs, metallurgical test-work, environment and community relations which are required for this study are in place. The Araguaia asset is undervalued relative to its peers and we hope with these ongoing developments that its true worth becomes realised by the market."

Horizonte Minerals plc ('Horizonte' or 'the Company') Drilling Results Continue to Generate High Grade Nickel Intercepts at the Araguaia Project, Brazil - 2.25% Ni over 17.3 metres Horizonte, the AIM and TSX quoted exploration and development company focused in Brazil, announces further positive results from the infill resource drilling programme at its 100% owned Araguaia Nickel project ('Araguaia') in Para Sate, north central Brazil. Highlights · Best intersection of 2.25% nickel ('Ni') over 17.3 metres from infill drilling at Pequizeiro target · Other high grade intersections include: o 15.6 metres grading 1.97% Ni, o 13.8 metres grading 1.96% Ni o 19.6 metres grading 1.84% Ni · 327 drill holes totalling 8,364 metres completed to date in the 20,000 metre drilling programme · Resource drilling programme on target to deliver resource update in Q4 2011 · Wardell-Armstrong appointed to complete a Preliminary Economic Assessment by end of Q1 2012 · Second drilling contractor, Boart Longyear, commenced drilling in May 2011 - currently a total of six drilling rigs are in operation

http://www.investegate.co.uk/Article.aspx?id=201107210700097619K

BlueStar SecuTech (BSST) reported pre-tax profits of 41 million Chinese yuan (3.9 million pounds) for the year to March 2011, up 33.6%, which the surveillance company attributed to several major contract wins with Chinese banks. The business has been aided by new Ministry of Public Security policies, which demand the mandatory replacement of video surveillance systems every five years and every cash counter and ATM to have a dedicated camera and DVR unit. Shares in BlueStar grew 0.75p to 20.75p.

Byotrol's (BYOT) shares saw a healthy rise of 6.5p to 14.5p after the anti-microbial hygiene developer won a potentially multi-million pound, four year contract to produce hand hygiene and surface sanitisation products for Rentokil Initial (RTO). Rentokil will incorporate the technology into its Initial Hygiene division, and sales are expected to commence in the forth quarter of 2011. Chief executive of Byotrol Gary Millar said: "Our strategy of working with specialist service suppliers and distributors is borne out by this significant contract."

Melrose (MRO) has sold Dynacast for 377 million pounds, having acquired the die cast manufacturer together with Mckechnie in May 2005 for 429 million pounds. Following the sale of Dynacast the firm plans to return 373 million pounds (75p per share) to shareholders through a redeemable share scheme. Melrose had previously sold Mckechnie in March 2007 for 855.6 million dollars (530.4 million pounds). The shares edged up 3.6p to 356.2p.

Liberum Capital reiterated its "buy" stance on Zetar (ZTR), with a 350p target price, after the snack producer released better than expected end of year results. EBIT grew 5.6%, 0.1% higher than estimates, and the company has introduced a dividend of 2.25p, which the broker believes demonstrates the strength of the business. Additionally, Liberum believes that Zetar winning the London Olympics 'Food Gifting' licence will help build its image and improve awareness of the brand. Investors gobbled up the shares, which finished 12.5p higher at 217.5p.

The reaction to unexpected and unexpectedly good halfway figures from Henderson Group looks churlish. Perhaps it is because they were not expected and, as we know, this market doesn’t like surprises. But while the shares were marked a touch higher, up 6p to 155p, analysts queued up to find reasons why the figures were not as good as all that. The fund manager, which in April bought its distressed rival Gartmore, said that underlying profits in the first half of 2011 would be between GBP83 million and GBP87 million. As this is much higher than GBP48.5 million last time and the company has a dual listing in London and Sydney, Australian rules apparently require it to point this out as soon as possible, which suggests the actual interims on August 17 will be a bit of a non-event. The shares are on abut 12 times’ this year’s earnings, in line with the rest of the sector. There seems no particular reason why they should outperform, says the Times.

Craneware is a bit of an oddity in that it is based up in Edinburgh but sells only to customers on the other side of the Atlantic. The company describes itself as the “market leader in automated revenue integrity solutions for the US healthcare market”. It said yesterday that revenue for the year to the end of June was expected to meet growth forecasts of 34 per cent to $28.4m. Adjusted profits are expected to come in at about $7.6m as management said its ClaimTrust acquisition had started to contribute. Although it trades on a punchy valuation of 36 times forward earnings, falling to 25 on the estimates for next year, Craneware boasts an enviable momentum, which should underpin the share price, says the Independent, which suggests to buy.

http://www.investegate.co.uk/Article.aspx?id=201107201000017156K

SSE's wind farm sale blows over Date: Wednesday 20 Jul 2011 LONDON (ShareCast) - Scottish and Southern Energy’s sale of a 50% interest in its Braes of Doune wind farm in Scotland has fallen through after "market conditions" forced buyer Climate Change Capital to postpone raising capital for the purchase. In June, SSE agreed to sell its 50% interest (36MW) in the onshore wind farm to a fund managed by Climate Change Capital for for £61.3m. "While it is disappointing that the sale of Braes of Doune has not been completed, these things have to be looked at in context. The asset will continue to deliver revenue for SSE and the proposed proceeds were not required to help fund SSE's investment programme," Gregor Alexander, finance director of SSE, said. SSE had inked this deal in an attempt to optimise its wind farm portfolio. It sold its 100% interest in three onshore wind farms in April 2011. Shares of SSE were trading up 0.5% at 1,420p in London.

Singer Capital upgrades ASOS from sell to fair value - target 2,290p from 1,365p.

Espirito Santo initiates sell on United Business Media, target price 465p.

Investec upgrades BSkyB from hold to buy, target up from 746p to 800p.

http://www.investegate.co.uk/Article.aspx?id=201107200700086875K

Strong snakebite treatment sales boost BTG Date: Wednesday 20 Jul 2011 LONDON (ShareCast) - Speciality drug maker BTG reported trading in line with expectations in the period between 1 April and 19 July. Sales of CroFab, an antidote used to treat rattlesnake envenomation, and DigiFab, used to treat patients who have ingested too much of the foxglove plant extract digoxin, are “on budget”, the company said. Chief executive Louise Makin said the company is making good progress against its priorities. Further clinical progress is expected from its drug development pipeline, the company said. Broker Peel Hunt has lowered its rating on BTG to “hold” from “buy”, saying it is “time to pause for breath.” It notes that the company has outperformed the All-Share Index by 30% so far this year.

Headlam, the European floor-covering distributor, has, like the retailer United Carpets, bucked the downturn in the carpet market by rolling out stellar figures for the first half of the year. Analysts at Peel Hunt said the result was "excellent" in what the distributor's management called a "flat" market, particularly in the UK, where its like-for-like sales surged by 7.4 per cent. It's also worth noting that Headlam trades on what is a relatively modest forward-earnings multiple of 11.6 times. Buy, recommends the Independent.

Smiths Group, the UK industrial conglomerate, operates across the medical, oil and gas and explosive detection sectors. Smiths' diverse nature has proven to be both a blessing and a curse in recent years. While its exposure to a range of end-markets and industries helped maintain robust profits during the downturn, it has also meant that investors have applied a conglomerate "discount" to a company that does not fit easily into any one identifiable category. Smiths is trading on a 2012 PE of close to 11x, a discount to the UK capital goods sector and offers a dividend yield of 3 per cent. Even in the absence of any corporate restructuring, we believe this undervalues a company that sells into well-diversified markets and has significantly improved its operating performance. Buy, says the Scotsman.

Johnson Matthey's investors have become accustomed to the company making all the right noises when it updates the market. And yesterday it did not disappoint, writes the Independent. The speciality chemicals operation said sales (excluding precious metals) motored ahead by 12 per cent to £617m while underlying profit before tax jumped by 19 per cent to £98.2m. What we particularly liked about yesterday's statement was the group's confidence that the first-quarter performance will continue through the rest of the year – and this has been a company that usually delivers on such predictions. The shares are no bargain – they trade at 14 times forecast full-year earnings, against a sector average of about 11 times. However, Johnson Matthey is well positioned in good markets and yesterday's statement was notably more upbeat than some rivals'. It's a tough call, but on balance, we'd keep buying, suggests the Independent.