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News & Tips: Rolls Royce, Rio Tinto, Capita Group, Vp, Aberdeen Asset Management, Halma, Talvivaara & Plethora Solutions

Today's market overview

Equities started the morning flat, but The Trader Dominic Picarda is confident that the latest upward move has further to go.

IC TIP UPDATES:

Rolls Royce (RR.) has named Ian Davis as its new chairman, he will succeed Sir Simon Robertson in May. Mr Davis has spent 30 years with McKinsey & Company, lately as managing director and chairman. We keep our buy rating.

Rio Tinto (RIO) has appointed new chief executives for its iron and copper divisions following ex-iron boss Sam Walsh’s appointment as group chief executive last month. Andrew Harding takes over as iron ore chief executive and Jean-Sebastian Jacques replaces Mr Harding as copper chief. Rio has reported a $3bn loss for 2012, hampered by the $14.4bn of impairments against aluminium and copper assets which accounted for former chief executive Tom Albanese last month. We retain our long standing buy recommendation.

Sell recommendationCapita Group (CPI) is to acquire Northgate Managed Services, a cloud based managed services operator, for an enterprise value of £65m.

Hire specialist Vp Group (VP.) says trading through the winter period has been satisfactory in tough market conditions. Regulated infrastructure markets have performed well and weakness in LNG markets has continued, but the company has recently won contracts with LNG customers which will contribute in the next financial year. Buy.

KEY STORIES:

Aberdeen Asset Mananement (ADN) is to acquire North American asset management business Artio Global Investors for $175m (£112m). Artio brings with it $14.3bn of managed assets and boosts Aberdeen’s North American presence.

Health, safety and environmental technology business Halma (HLMA) says trading has been in line with expectations in the period from 30 September to now with strong conditions in the US and Asia offsetting tougher conditions in Europe.

Finnish miner Talvivaara (TALV) plans to raise €260m through a rights issue in order to finance its operations through to a full ramp up and to shore up its financial position.

OTHER COMPANY NEWS:

Shares in Plethora Solutions (PLE) have surged more than 30 per cent after the company confirmed it is in talks with a key investor over an equity raise. The funds would enable the company to push a key product through to European approval.

READ MORE...

Read today's press headlines and share tips.

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By Graeme Davies,
14 February 2013

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