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News & Tips: Kazakhmys, Premier Oil, WH Smith & more...

Chinese stock markets slipped overnight on worries over PMI data.
August 21, 2014

The S&P 500 Index is within two points of a record, as minutes indicated the Federal Reserve will continue to support the US economy due to mixed news on the jobs market.

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Engineering contractor Costain (COST) announced a record order book after securing work on a series of large infrastructure projects. Orders were up 10 per cent to £3.2bn in the first half of the year as it secured more than £700m of new contracts and extensions in the period.

A joint venture between Interserve (IRV) and Shanks Group (SKS) has entered into an agreement with Derby City and Derbyshire County Councils to build and operate a new waste treatment facility in the city under a £950m Public Private Partnership contract.

Kazakhmys (KAZ) moved into profit with first-half net income of $49m, after a loss of $962m a year earlier. The copper miner is also pushing ahead with plans to divest two-thirds of its assets by the end of the year.

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High street newsagent WH Smith (SMWH) said that it is confident its annual results will live up to City expectations. Analysts are predicting pre-tax profits of about £113m.

Immunodiagnostic Systems Holdings (IDH) has announced that it has received notice that the China Food and Drug Administration has approved the Company's IDS-iSYS automated immunoassay instrument for sale in the Chinese market.

PV Crystalox Solar (PVCS), a supplier to the global photovoltaic market, has revealed that its net first-half loss widened to €6.94m from just over €2m in the prior year. The firm said "Industry analysts forecast a sharp increase in PV demand during the remainder of the year with expectations of 15GW of installations in Q4 alone."

Leeds based turnaround investor Endless has agreed to acquire business supplies specialist office2office. Endless has reached agreement with the board of office2office (OFF) to acquire the company’s entire share capital in a recommended cash offer. The offer is being made through EVO Business Supplies, a new company owned by funds managed by Endless. Under the scheme shareholders will be entitled to receive 51p in cash for each office2office share, valuing office2office's existing issued and to be issued ordinary share capital at approximately £19.1m.

The Financial Conduct Authority has temporarily suspended the securities of both Kentz Corp (KENZ) and Wolfson Microelectronics (WLF) at the request of the companies.

Oil and gas explorer Premier Oil (PMO) might upgrade its production guidance for this year after stronger-than-expected output in the first half. The company reported a 7 per cent rise in first-half profit after tax on Thursday, helped by strong oil production from its North Sea fields.

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Fiske (FKE) posted an after-tax profit of £231,000 after a flat second half, which was adversely affected by some one-off costs and provisions.

The Financial Conduct Authority has temporarily suspended the securities of both Kentz Corp (KENZ) and Wolfson Microelectronics (WLF) at the request of the companies, pending announcements.