15:40GMT 17Oct2008-Computacenter gains after trading update

-----------------------------------------------------------

Shares in Computacenter gain 3.9 percent, as tech issues advances with the Nasdaq across the Atlantic following good news in the U.S. sector, and after the UK IT firm issues a trading update.

The computer hardware and services firm says third-quarter revenue grew 6 percent, boosted by the strength of the euro, but trading since then was flat, reflecting market uncertainty.

Investec Securities lifts it rating to "hold" from "sell".

"Computacenter's IMS reads well considering the market uncertainty. Sales in Germany and the UK were up and France reported a small profit. There has been some impact from market weakness, but it has been 'contained' thus far," says the broker in a note.

For more double click on

Reuters Messaging rm://tricia.wright.reuters.com@reuters.net

15:19GMT 17Oct2008-William Hill falls; Morgan Stanley downgrades

----------------------------------------------------------------

Shares in William Hill fall 14.7 perrcent as Morgan Stanley cuts its recommendation on the company to "equal-weight" from "overweight" as part of a note on UK and Irish bookmakers.

The broker cuts later year forecasts by 30 percent to reflect lower growth on the High Street and a 300 basis point increase in interest costs.

Morgan Stanley says that with such a tight credit market, it does not think that the company should be paying any dividends given that it may need to tap shareholders to deal with its 1 billion pound March 2010 refinancing.

"We still see value for longer-term investors, but think that the shares could remain cheap until the refinancing is completed, or credit conditions ease," says Morgan Stanley, which cuts its target price to 310 pence from 485.

William Hill is scheduled issue a trading update on October 23.

Reuters Messaging rm://tricia.wright.reuters.com@reuters.net Keywords: MARKETS EUROPE STOCKSNEWS tf.TFN-Europe_newsdesk@thomsonreuters.com ms1

COPYRIGHT

Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.