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10:33GMT 05March2010-Software Radio Tceh up on Red Hot tip
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Shares in Software Radio Tech rise as much as 24.5 percent to a 17-month high of 15.25 pence after a tip from Red Hot Penny Shares.
The designer of radio communication devices for shipping says it is benefiting from increased take-up of the technological standard it uses by maritime jurisdictions, such as Singapore, Turkey and The Rhine.
Independent analyst Tom Bulford of Red Hot Penny Shares, who visited the firm to see the technology in action, tipped the shares at 15 pence, with a "buy" rating.
Reuters messaging rm://paul.sandle.reuters.com@reuters.net
10:49GMT 05March2010-IMI up; brokers lift forecasts
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Shares in British manufacturer IMI gain 1.5 percent, building on an advance made in the previous session following the release of the firm's full-year results, as a number of brokers lift their forecasts and target prices.
"Not too many companies are going to be delivering record half year margins in H2 2009. IMI delivered an all-time best of 15.2 percent, with the group doing an astonishing 13.1 percent for the year," Evolution Securities says in a note.
"This proves and underlines that IMI has fundamentally changed its profile and yet the stock continues to be valued along with most other UK industrials on the classic 10s," it says.
Evolution increases its EPS estimate for 2010 by 10 percent, and for 2011, by 13 percent. Its target moves to 860 pence from 825, with the broker repeating its "buy" rating on the stock.
Citigroup, meanwhile, lifts its EPS forecasts for 2010 and 2011 by 7 percent and 5 percent respectively, with its target moving to 680 pence from 650. It repeats its "buy" rating.
Panmure Gordon raises its EPS estimates by 9 percent for 2010 and 8 percent for 2011. It hikes its target to 730 pence from 680, and repeats its "buy" rating.
Reuters Messaging rm://tricia.wright1.reuters.com@reuters.net
09:34GMT 05Mar2010-Kenmare Resources falls on discounted fundraising
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The London-listed shares in Kenmare Resources fall as much as 29
percent to the lowest level in over 10 months after the titanium dioxide producer announces a heavily discounted fundraising.
It plans to raise $270 million in a share placing and open offer priced at 12 pence a share, a 42 percent discount on Thursday's closing price, to boost capacity at its Moma mine by 50 percent.
"Overall it is amazing that a company with a record of late project delivery and cost over-runs, and one that has yet to record any profits, can be given more ammunition in order to produce more material that few people apparently want," says Libertas Capital's Roger Bade.
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Reuters messaging rm://julie.crust.reuters.com@reuters.net
08:48GMT 05Mar2010-UK small caps rise 0.1 pct early
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The FTSE Small Cap index rises 0.1 percent in early trade, underperforming the blue chips and the midcaps, which both gain 0.5 percent.
Construction firm Costain puts on 1.1 percent after saying its joint venture with Nordic building firm Skanska is awarded a 15 million pound contract by London's Crossrail transport project.
Fiberweb slips 2.3 percent after the non-woven fabrics producer posts full-year results, with Panmure Gordon cutting its target price on the firm.
The broker says in a note that while we are witnessing the fifth six-month period of profit improvements, the recently announced refinancing agreement adds to interest costs materially in 2010 and 2011 producing a reduced EPS as a result -- though underlying improvements at the operating level remain.
Reuters Messaging rm://tricia.wright1.reuters.com@reuters.net
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