CSR, up 5%
CSR upgraded to buy from hold at Liberum Capital who also upgrade their price target to 550p from 540p after a recent pullback in the share price. They state CSR is now trading at a discount to its peer group and expects CSR to meet consensus expectations for 2H ’13.
African Mining & Exploration, up 26%
The gold explorer have announced that they will acquire an 80% interest in Matilda Minerals Limitada, which operates a mineral sands project in Mozambique, for an initial payment of A$525,000 in cash and shares.
Telit Communications, up 8%
The global machine-to-machine communications firm reports a more than double pre-tax profit for the first half of 2013 due to growth in the number of units shipped. They have started the second half strongly and is confident of meeting expectations for the full year.
SpaceandPeople, up 5.4%
SpaceandPeople post higher profit for the half year mainly due to growth in German businesses. They booked a first-half pre-tax profit of £0.6 million, up 60% year on year. Gross revenues were up 46 to £18.2 million.
Gulf Keystone, up 3.3%
Gulf Keystone have requested that its shares be suspended from trading tomorrow morning until later in the day once the company updates investors on the outcome of the court hearing. A ruling is expected tomorrow in a long-running legal spat involving a claim by Excalibur Ventures on Gulf Keystone Petroleum’s acreage in Iraqi Kurdistan.
BG Group, down 5%
Energy giant BG Group have announcing project delays would hit 2014 oil output. BG’s shares fell the most in 10 months after project delays in Egypt and Norway will curb oil output next year with projects in Egypt affected by political turmoil.
Tate & Lyle, down 2.4%
UBS downgrades Tate & Lyle to sell from neutral and cuts its price target to 770p from 890p. Says the stock’s current valuation is too high and does not adequately reflect the risk that sucralose prices continue to decline as generic competitors improve product quality and access greater scale, says UBS.
Associated British Foods, down 2%
Ingredients maker and Primark fashion retailer Associated British Foods PLC said Monday that adjusted operating profit for the second half will be ahead of expectations delivered by a strong finish to the year from Primark. Despite the positivity, shares lag, down nearly 2 percent.
Brady PLC, down 15%
The provider of trading and risk management solutions for metals, recycling, energy and soft commodities, posted a narrowed loss for the first half of 2013 and said it has a strong pipeline and advanced talks for several significant new license deals. For the first half, adjusted loss before taxation was 0.1 million pounds, compared to a profit before taxation of 0.8 million pounds a year ago.
Avesco, down 9%
The provider of services for corporate presentations reports a fall in pre-tax loss for the quarter ended June 30th. They add that pricing remains under pressure in some markets while the pick-up in demand in the UK has yet to reach the levels anticipated.