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10:05GMT 03Nov2009-Weir down, orders fall, upgrade disappoints
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Shares in Weir Group fall almost 8 percent after the pump manufacturer says order intake is continuing to fall and in spite of the company saying full-year profit will come in at the upper end of market expectations.
"Some of the bulls were probably expecting better news," says Arbuthnot analyst Michael Blogg. He sees some downside risk in the shares but expects to increase his adjusted pretax profit forecast to 175 million pounds from 162.5 million.
KBC Peel Hunt analyst Jonathan Hurn says: "Original equipment (OE), which is late-cycle, is still quite tough. The figures imply that Q3 OE orders are down roughly 50 percent, broadly in line with the fall in the first half".
But Hurn notes the sector has had a good run recently and that upgrades were expected. He upgrades his full-year pretax profit forecast to 177 million pounds from 170 million and maintains a "Buy" recommendation.
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09:53GMT 03Nov2009-ATH gains; secures new credit facility
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Shares in ATH Resources rise 1.5 percent, bucking a falling UK market, after the British mining firm secures a new credit facility, prompting Evolution Securities to upgrade its rating to "add" from "neutral".
ATH Resources says it has secured a three-year 30 million pound credit facility with HSBC and Yorkshire Bank.
"Debt refinancing is good news for the group as it removes some of the market's concerns about how it will fund future growth," says the broker in a note.
"Additionally, the group may now feel more confident in paying a final dividend," it adds.
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09:33GMT 03Nov2009-Rolls Royce down as update disappoints
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Shares in engine-maker Rolls Royce fall 2.8 percent after the company's interim trading update disappoints investors, with Evolution Securities repeating its "sell" rating on the stock.
"Guidance was unchanged but the statement was downbeat," says the broker in a note, adding "the stock looks expensive and has outperformed peers such as EADS and Boeing, so it is likely to come off slightly".
Rolls Royce, which makes engines and turbines for passenger planes, fighter jets, ships and power stations expects to deliver sales growth for 2009 but says the global aviation and defence markets remain depressed.
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08:47GMT 03Nov2009-UK small caps down 0.3 pct at the open
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The FTSE Small Cap Index is 0.3 percent lower in early trade, outperforming the wider UK market, with the FTSE 100 and the FTSE 250 down 1.3 and 1 percent respectively.
AIM-listed Amino Technologies plunges almost 27 percent after the Internet television company warns its financial performance for the full-year 2009 will be significantly below expectations.
Russia-focused Highland Gold Mining adds 8.7 percent following upbeat results from its Mnogovershinnoye and Lyubov mines, which confirmed their potential and opens up opportunities for further exploration.
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