Best of the Brokers for 13 July 2015

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Berenberg upgraded its “hold” recommendation for the British weapons company to “buy”. The broker said high activity levels in Saudi Arabia will generate an upside, while there will be minimal impact from UK defence cuts and procurement reform comparative to UK peers.

Canaccord Genuity upgraded its rating for the gold mining company from “hold” to “buy”. The broker has increased its full year production estimate for the Sukari mine in Egypt from 422,000oz to 450,000oz after production was 33 per cent higher year-on-year from April to June.