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http://www.investegate.co.uk/Article.aspx?id=201210240700053715P

Two member of IG Group's executive board exercised options to purchase shares in the company this week, as part of the firm's long-term incentive plan (LTIP) award employee share scheme. IG, which is a provider of financial spread-betting and CFDs, said that Chief Executive Officer Tim Howkins and Chief Operating Officer Peter Hetherington purchased shares on Monday. Howkins exercised an option to buy 10,303 shares, bringing his stake to 3,901,692 shares, equal to 1.07% of the company.

Shore Capital reiterated its "buy" recommendation for Macau Property Opportunities Fund (MPO), noting that the shares trade at a 40% discount to its adjusted net asset value. The broker attributed the price weakness to poor market sentiment towards the slowing Chinese economy, but believes that investors have over-reacted. Shore pointed to the Asia focused real estate investor's strong presence in the upmarket residential area of Macau, which accounts for 60% of its gross property value and its healthy cash balance of some 42.7 million dollars (26.7 million pounds).

Investec Securities retained its buy rating for DS Smith (SMDS), raising its target price from 190p to 225p. The broker believes that the packaging company's unique business model, namely de-emphasising paper, is growing in attraction to the market. Other positives the broker highlighted are greater cost synergies, lower net debt and a lower tax rate than previously expected. The broker also believes that DS Smith has the potential to gain an increasingly meaningful share of the European market, diversifying its revenue base.

Panmure Gordon maintained its "buy" recommendation for BP March & Partners (BPM) with an increased target price of 130p, from 125p. The broker noted that there is a significantly large gap between the company's NAV, which stood at 178p per share as at 31st July 2012, and the current share price. Moreover, there seems to be little reason for this gap given that the firm is likely to divest its Hyperion subsidiary shortly. Also noted by Panmure is that the company has entered the fast growing Brazilian insurance market via the acquisition of a 51% stake in a specialist construction broker

InterContinental Hotels Group PLC announces Third Quarter Americas RevPAR Growth at Annual Conference for Hotel Owners InterContinental Hotels Group's ("IHG") annual conference for hotel owners in the Americas region commences today. Details of revenue per available room (RevPAR) for IHG's brands in the US and Americas for July, August and September 2012, for the third quarter 2012 and for the nine month period to 30 September 2012 will be disclosed at this conference and are tabled below. IHG comparable US RevPAR for the nine months to 30 September 2012 grew 6.3%, driven predominantly by rate up 4.3%. Third quarter US RevPAR growth was slightly softer at 4.6%, with 4.0% rate growth, reflecting the shift in timing of certain holidays which adversely impacted results in both July and September. The US industry continues to benefit from a favourable supply and demand dynamic. Supply growth remains well below historic levels and the industry has broken monthly records for room nights sold in each of the past nineteen months, although the pace of demand growth is expected to continue to slow. IHG's full third quarter results will be announced at 7am UK time on 6 November when further commentary will be provided.

http://www.investegate.co.uk/Article.aspx?id=201210240700043647P

Capital Management: With the proceeds from the August 2012 Rights Issue and with further sales of oil from the producing wells, the Company is now fully funded to complete the drilling of J-58 during the second half of 2012 and to implement the necessary topside infrastructure to bring the J-51 and J-53 wells onto trial production currently expected by the end of the year. The directors are currently reviewing a range of options for financing the further development of the East Akkar field during 2013 and beyond to the stage where export oil sales are being achieved and further development of the field is self-funding.

Oil Sales: During the quarter the Company continued to transport its oil to a nearby processing and storage facility for onward selling to a local trader on a pre-paid basis. The Company continues to investigate new markets for the sale of its oil from the Akkar East field. The Company anticipates increased oil production from its wells and also wishes to have the flexibility to deliver oil into the state owned oil pipelines after full field development has been completed as the Company moves from domestic to export sales. The current arrangement of delivering un-processed oil to a local facility has certain capacity constraints that make it unviable for the Company's future needs. The Company is seeking an arrangement to initially use rail transport to the Atyrau refinery. Initially the transportation of smaller volumes may incur an increased transportation charge, this will be reviewed once production volumes have increased and the consistency of oil quality is optimised. Gross pricing is expected to remain consistent with current domestic sales but the new arrangement is likely to see the price per barrel, after deducting transport and processing costs, reduce to ~$US41/barrel (from ~$US46/barrel) inthe short term. The focus will be to move to pipeline sales as soon as is practical, thereby reducing transport costs and improving the net price/barrel achieved in the domestic market. Going forward, updates on oil sales will form part of our quarterly reports.

POST PERIOD END: · J-58 well was spudded on 21 October. This is the Company's 6th exploration well and the 2nd well drilled on the new southern extension area. · Trial Production Licence applications for both J-51 and J-53 wells are progressing with a current expectation that all approvals will be received before year end.

KEY POINTS: · The J-55 well reached total vertical depth of 3,400m on 29 September 2012. · Initial analysis of the J-55 well indicated 112m of gross reservoir and approximately 60m net pay in the Mid Triassic carbonate reservoir unit. This is similar to that of the already discovered Akkar East oilfield. The 90-day flow testing program for J-55 is expected to commence in early November. · Production from the J-51 and J-52 wells produced ~35,000 barrels during the quarter generating revenues of ~$US2m. · J-50 was shut in during the quarter for modifications to its top side facilities and awaiting the installation of an electric submersible pump ("ESP"). Following the October installation of the ESP, the well is currently flowing at ~250 bopd. · J-53 underwent a chemical treatment that partially reduced the water production; the well will now undergo a workover with cement squeeze to further reduce the water influx. · Successful Rights Issue completed in July raised $11.25m (after costs). · Conversion by SNG of $US3.45 Convertible Notes to ordinary equity.

http://www.investegate.co.uk/Article.aspx?id=201210240700053709P

Commenting on the IMS, Geoff Fardell, Chief Executive Officer, said: "Capital Drilling has maintained strong levels of activity despite the fallout from declining commodity prices, capex reductions from the majors on large development projects, as well as instability in some of the emerging markets within which we operate. Our revenues remain strong, albeit that they have been slightly impacted by the softening market and are expected to come in just below consensus forecasts for 2012. Whilst our net margins were lower in the last quarter than consensus forecasts, we have initiated cost reduction and efficiency programs to move these margins back towards the margin performance we have enjoyed as one of the leaders in our industry. We continue to monitor market conditions and at the same time we are seeing tender opportunities, and are confident that these new opportunities and the delivery of cost efficiencies, which began in Q3, will flow through in future periods".

Trading Update and Outlook The performance of Capital Drilling in the third quarter was solid albeit below consensus forecasts, with budget constraints being faced by many of our clients, 70% of which are large blue chip mining "majors". Revenues continued to grow, with Q3 posting record revenues of $40.9m, demonstrating some gains in market share in the drilling industry, as well as utilisation rates also showing continued growth to 79% from 75%. ARPOR was, however, put under some pressure with a small number of contracts moving from double shift to single shift operations. Other challenges during the quarter included the temporary industrial action in Egypt, as well as a weaker than expected performance in Tanzania, two key countries in which Capital Drilling generates c.40% of its total revenues, with expectations of combined improving performance in Q4. As a result of the impacts during Q3, full year revenues are expected to come in just below consensus forecasts for 2012 together with lower than consensus FY2012 margin performance and consequent impact on profit Earlier in the year, Capital Drilling began investing in its personnel and infrastructure; however upon the signs of a softening market we have implemented cost reduction and efficiency programmes, which includes systematic reviews of a number of major cost inputs including labour & supply chain. These measures are designed to allow Capital Drilling to improve the profitability and efficiency of the business and to develop a platform from which it can continue to grow in the future. It is anticipated that the benefits of these measures will start to be felt in Q4 of 2012 and beyond. The Group currently has 89 rigs in the fleet. Although the Group is carefully monitoring the impact of the well documented softening of conditions it also continues to see opportunities and where appropriate, will invest, such as the further investment scheduled for Q4 this year through an additional 3 rigs due to be deployed in Egypt.

Capital Drilling Limited (CAPD: LN), the emerging and developing markets drilling company, provides its Interim Management Statement for the period to 23 October 2012. Highlights • Despite the weakening macro environment, revenues rose 26% to $40.9m (Q3 2011: $32.5m) for the 3 month period to 30 September 2012 and by 30% to $119.9m for the 9 month period ($92.0m for 9 months in 2011). • The utilisation rate for the quarter improved following H1 rig mobilisation, rising to 79% for the Q3 period (up from 75% in H1 2012). • Quarterly Average Revenue Per Operating Rig ("ARPOR") down 4% to $188,000 ($197,000 in H1 2012) on a weighted average fleet size of 88 rigs due to some contracts moving from double to single shifts. • Added three new rigs in the quarter & decommissioned a further 4 rigs, bringing the quarter end rig count to 89 rigs. 3 further contracted rigs are scheduled for delivery in Q4. • Global conditions for the mining industry continued to soften, with major miners continuing to defer capex on large development projects. • Profits impacted by labour & production disruptions in Egypt along with a weaker than expected Q3 in Tanzania, which combined account for approximately 40% of total revenues. • Capital Energy awarded its 3rd contract, with Ethiopotash (Yara International) in Ethiopia. Activity is scheduled to commence late Q4. • Further expansion of activities at the Lumwana (Barrick Gold) and Kansanshi (First Quantum) mines in Zambia. • Achievement of a number of safety records including: · Capital Drilling Mauritania achieved 500 days LTI free at the Tasiast Gold Mine (Kinross Gold). · Capital Drilling Tanzania achieved 2,000 days LTI free at the Geita Gold Mine (Anglogold Ashanti).

http://www.investegate.co.uk/Article.aspx?id=201210230700062663P

The quarterly NAV contained no surprises with a rising NAV reflecting market conditions and revenue more than exceeding costs and dividend payments. This is despite FX effects reducing the NAV by 3% (£:$1.57 end June, $1.61 end September)

http://www.edisoninvestmentresearch.co.uk/researchreports/GLIFFlash221012.pdf

"Strong Trading Momentum Maintained" Sanderson Group plc ('Sanderson' or 'The Group'), the software and IT services business specialising in multi-channel retail and manufacturing markets in the UK and Ireland, announces the following trading update ahead of the announcement of its preliminary results for the year ended 30th September 2012, due to be released on Tuesday, 27th November 2012. Following the sale of Sanderson RBS in January 2012 for a cash consideration of £11.7million, the Group has concentrated on developing and further growing its businesses both in the expanding multi-channel retail and ecommerce markets, as well as, in selected manufacturing markets. Investment has focused upon developing new products and services, such as warehouse automation and increasingly, mobile applications, as well as upon strengthening the Group's sales and marketing capabilities. This investment strategy has contributed to an improved competitive market position resulting in an increase of over ten per cent in the Group's overall sales order intake for the financial year. The multi-channel business, with its online sales and ecommerce offerings, has achieved an increase in sales order intake of over 15% during the year. The trading results for the year ended 30th September 2012, are slightly ahead of market forecasts and the Group's cash balance as at 30th September 2012 has further improved to £4million. Notwithstanding the uncertain outlook for the general economy, the strong order book provides improved future visibility and gives the Board a good level of confidence that Sanderson will make further positive progress during the year ending 30th September 2013.

http://www.investegate.co.uk/Article.aspx?id=201210230700072687P