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Exeter Energy from Waste Contract Signed Pennon Group Plc is pleased to announce that its subsidiary, Viridor Waste Management Limited ('Viridor'), has reached agreement with Devon County Council for the diversion and treatment of 60,000 tonnes of Devon's residual municipal waste through the financing, construction, and operation of a new Energy from Waste ('EfW') plant at the Marsh Barton site in Exeter. Key parts of Viridor's stated strategy are PPP contracts and the construction and operation of EfW plants. These are to treat residual waste, which is being diverted from landfill in line with the European Landfill Directive, and to maximise the associated renewal energy generation. The Exeter EfW plant is being built specifically to handle 60,000 tonnes of Devon's residual municipal waste under a strategic partnership and existing contract, as steeply rising landfill tax drives residual waste disposal away from landfill towards EfW. The Exeter site has Planning Permission and an Environmental Permit, both obtained by Viridor. The project requires capital investment of £45.6million by Viridor for a 60,000 tonnes per annum capacity plant which will be built by EPC Contractor, Tiru SA, an experienced provider and operator of EfW plants. Viridor's investment will be funded from readily available internal funds.

http://www.investegate.co.uk/Article.aspx?id=201107040700056602J

Barclays Capital reiterates overweight on Kingfisher, target price unchanged at 340p.

Singer reiterated its "sell" recommendation for Carpetright (CPR) reducing its target price by 9% to 500p and chopping its earnings forecasts by the same percentage. Although net debt should fall to 50 million pounds this year and there are "several new initiatives underway which will enhance Carpetright's floor coverings credentials," Singer believes the downgrades are justified given the bleak consumer outlook.

Looking ahead to an interim management statement from 3i (III) due on 6th July, Evolution Securities expects to see confirmation that Q1 has been busy and believes that this momentum should continue in Q2. "While cash flow may well be strong," notes the broker, "uplifts/capital gains will be more modest." However, Evolution believes that a H1 NAV of 370p remains possible, which makes 3i look cheap at the current price, and the broker therefore retains its "buy" stance

Panmure Gordon downgraded its stance for Hyder Consulting (HYC) from "buy" to "hold" with the shares now approaching its target price of 445p following an increase of around 20% during the last month. While the broker believes the advisory and design firm is "well placed longer term given its geographic mix, strong management and balance sheet," it also feels that upgrades are now required to take the shares to the next level and notes its preference for sector peers Atkins and RPS

UBS upgrades JD Wetherspoon from neutral to buy, target price unchanged at 490p.

RBS reiterates buy Schroders Group, target price cut from 1960p to 1854p.

http://brokermandaniel.com/2011/07/02/shells-giant-kazakhstan-oil-project-in-crisis/

Recently, the floodgates were opened for the naming of web pages on the internet – and this is positive for registration and internet management company Group NBT, according to Questor in the Telegraph. NBT manages domain names for blue-chip clients, as well as internet hosting and corporate protection services. It has posted growth and revenues every year for the past decade and is active in a market that is growing at about 6% a year. The shares are trading on a June 2011 earnings multiple of 16.7 times, falling to 14.7 in 2012. This is a premium rating but it reflects the recurring nature of the group’s revenues, the relatively bullish backdrop and the group’s blue-chip client base. The yield is not spectacular at 1.1%. Questor first recommended the shares as a buy on March 12 2009, at 214½p and they are up 109% since then compared with a FTSE 100 up 61%. The shares remain a buy, in Questor’s view.

In January 2008, Midas tipped Northumbrian Water in the Daily Mail, suggesting it was an obvious bid target for an infrastructure fund. We have waited three-and-a-half years but finally the tide is turning. Last week, Cheung Kong Infrastructure Holdings (CKI), an investment company controlled by billionaire Hong Kong tycoon Li Ka-shing, confirmed it was looking at a possible offer. For investors who bought at 350p, it may be tempting to sell some shares now. Given CKI’s other water interests, any formal bid would almost certainly be referred to the Competition Commission so delaying the takeover. Nonetheless, it would be foolish to sell completely so early on. This story will doubtless continue to develop and Li Ka-shing’s putative offer may even prompt attention from others.

apologies ut this is the rest of my last post The shares are trading on a June 2012 earnings multiple of 7.9, falling to 8.1 next year, and the yield is 2.4%. They were tipped as a buy on January 1 2009, at £19.95 and they are now up 23% compared with a FTSE 100 up 30%. The shares remain a buy, in Questor’s view.

The world’s largest miner, BHP Billiton, has spent $3.64bn buying 93.9m shares in London since November. It also said it had spent $6.34bn repurchasing 146.9m Sydney-listed shares through a tender offer. The repurchase of the Sydney-listed shares represented 4.4% of shares listed on the Australian Stock Exchange. Should no suitable acquisitions occur, even more money is likely to returned via buy-backs, writes Questor in the Sunday Telegraph.

RBS reiterates hold on Rathbone Brothers, target price cut from 1200p to 1117p

Panmure Gordon downgrades Hyder Consulting from buy to hold, target price unchanged at 445p.

Killik reiterates buy Stobart Group

Exchange Rate and Irish Dividend Withholding Tax for the Second Interim Dividend in respect of the Year Ended 31 March 2011 1 July 2011 - Experian plc, the global information services company, announced on 18 May 2011 a second interim dividend of 19.0 US cents per ordinary share payable on 22 July 2011 to shareholders on the register of members at the close of business on 24 June 2011. The Company now announces that the £/$ exchange rate to be used to convert the dividend payment from US dollars to sterling pounds, for those shareholders who did not elect by 24 June 2011 to receive payment in US dollars, will be £1 = $1.6019. Shareholders who did not elect to receive UK sourced dividends through the income access share arrangements are reminded that, as previously advised, their dividends will be subject to Irish dividend withholding tax unless the Company's Registrars are in possession of a valid exemption form. As previously advised, the final date for submission of elections to receive UK sourced dividends via the income access share arrangements was 24 June 2011. In the absence of any such elections, previous elections or deemed elections will remain in force.

Statement re potential return of capital Tiger Resource Finance Plc ("the Company" or "Tiger") announces that its board of directors (the "Board") is currently considering a return of capital to shareholders. The Board is of the opinion that market conditions have dictated that the price of the Company's shares do not reflect the underlying value of the Company's investments and cash. In order to align the market value with the net asset value of the Company, the Board is assessing a return of capital to shareholders from Tiger's distributable reserves. A further announcement regarding this proposed transaction will be made in due course.

http://www.investegate.co.uk/Article.aspx?id=201107011150445880J

RBS upgrades Salamander Energy from sell to hold, target price raised from 250p to 270p