Equities continue to tick upwards as investors follow the fiscal cliff negotiations in the US closely. Meanwhile, The Trader Dominic Picarda reckons we are set fair for further gains in 2013.
IC TIP UPDATES:
CLS Holdings (CLI) has received positive news on two planning applications, one at Solna, near Stockholm, and the other in Vauxhall, London, as part of the huge Nine Elms regeneration scheme. We maintain our buy rating.
African budget airline FastJet (FJET) has agreed an option to buy South African budget airline 1time, although the deal will not complete before Christmas. We keep our speculative buy rating on FastJet.
Gulfsands Petroleum (GPX) has negotiated the acquisition of oil and gas exploration assets and a gas exploitation opportunity in Morocco.
Balfour Beatty (BBY) has won a £1.2bn contract with National Grid to upgrade gas networks in the North West and West Midlands.
Bus maker Optare (OPE) has announced strong trading with revenues more than doubling to £46.7m in the six months to September and losses diminishing sharply. Indeed, the business recorded a profit in the three months to September.
Sportingbet (SBT) has seen its performance recover in recent weeks after a difficult period in the three months to the end of October. Management is confident of meeting expectations for the year to July 2013.
CPP Group (CPP) says trading in the UK continues to be impacted by lower revenue streams after the FSA clamped down on certain areas of its business. The company has agreed a £10.5m fine with the FSA but has not yet confirmed the redress it will have to pay to customers. Meanwhile CPP needs to negotiate new funding before its facilities become due on 31 March.
OTHER COMPANY NEWS:
Weatherly International (WTI) has announced the completion of a bankable feasibility study on its Tschudi Copper Project and the signing of a term sheet providing finance for it.
Halma (HLMA) is to acquire ophthalmic surgical products maker MicroSurgical Technology for an initial $57m.
Datong (DTE) has announced a £7.5m contract win, sending its shares more than 20 per cent higher.