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10:00GMT 20Oct2008-C&W weak on demerger uncertainty

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Shares in Cable & Wireless fall 3.8 percent after weekend press reports suggest that C&W's demerger plans are being postponed until next year due to market turmoil.

The Sunday Times reported that C&W's board is worried that the continuing stock market uncertainty makes it a poor time to undergo a transaction such as a demerger.

Responding to the report, a spokesman for the company told Reuters: "Cable & Wireless has previously stated that it would look at options of value realisation during the current financial year. As and when we have anything further to say on this matter we will make an announcement."

Investec says expectations had been building strongly towards a value realisation announcement to accompany C&W's first half results, due on November 10, but it thinks a sale of C&W International looks unlikely given current credit conditions.

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Reuters Messaging:jon.hopkins.reuters.com@reuters.net

09:57GMT 20Oct2008-Catlin falls; Credit Suisse cuts estimates

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Shares in Catlin Group, the international speciality property and casualty insurer and reinsurer, fall 2 percent as Credit Suisse downgrades its recommendation to "neutral" from "outperform" and cuts its target price to 410 pence from 520 pence.

Credit Suisse also slashes its 2008 earnings estimates to account for lower investment income and higher than expected losses from hurricanes Ike and Gustav.

Elsewhere in the sector, Amlin drops 2 percent, Chaucer dips 1.9 percent, Admiral Group falls 5.2 percent and Brit Insurance sheds 1.6 percent.

Reuters Messaging rm://david.brett.reuters.com@reuters.net

08:50GMT 20Oct2008-Aga Rangemaster falls on profit warning

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Shares in Aga Rangemaster fall over 23 percent after the company issues a profit warning and have said recently orders fall more than 15 percent below last year.

Panmure Gordon cuts its target price to 70 pence from 125, and keeps its "sell" recommendation on the company.

"We predict further deterioration from here ..., as it is clear that the trends in property transactions, credit availability and discretionary consumer spending remain in decline," the broker says.

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

08:26GMT 20Oct2008-Davenham tumbles on profits warning

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Davenham slumps nearly 77 percent after the commercial finance company that lends to UK small and medium size enterprises issues a profits warning, prompting negative reactions from Teathers and Panmure Gordon.

The news sees Teathers call into question the prospect of Davenham's future profitability, whilst increasing its expectations for impairments "markedly".

As a result, the broker slashes its target price to 10 pence from 80 pence, whilst repeating its "reduce" recommendation.

Panmure Gordon blames the pace and scale of the crunch crunch for Davenham's problems and says it expects costs and impairments to jump. As a result it cuts its recommendation to "sell" from "buy", with a target price of 20 pence.

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Reuters Messaging rm://david.brett.reuters.com@reuters.net

08:17GMT 20Oct2008-William Hill jumps on update, acquisition

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Shares in William Hill leap nearly 20 percent as the UK bookmaker issues an upbeat trading statement and accompanies it with an expansion of its online betting division, leading Evolution Securities to upgrade its rating.

William Hill says it is comfortable with market expectations for the full year as it reports a 9 percent increase in gross win for the third quarter. The bookmaker also says it has acquired certain affiliates of Playtech and entered an online gaming licence agreement with the company to create an enlarged William Hill Online business.

Evolution says it has raised its rating for William Hill to "buy" from "reduce" in light of the "better than expected" trading statement as well as Friday's 15 percent drop in the bookmaker's share price, with it's 190 pence price target left unchanged.

The broker adds William Hill's deal with Playtech, while beneficial, is not transformational and the refinancing risk remains, however Evolution feels the risk/reward profile now justifies a "buy" rating on the UK bookmarker.

Peer Ladbrokes adds 7.9 percent.

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Reuters Messaging rm://jon.hopkins.reuters.com@reuters.net

08:11GMT 20Oct2008-FTSE Small Cap Index ticks higher

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The FTSE Small Cap Index ticks 0.1 percent higher in early trade, as the wider UK markets extend Friday's gains, with the FTSE 100 rising 1.5 percent.

JJB Sports, the sports goods retailer, jumps 11.5 percent as the company raises 3.4 million pounds by selling a 5 percent stake in its business to Mike Ashley's Sports Direct International, with Altium Securities raising its trading recommendation to "neutral" from "sell".

Davenham, a commercial finance company that lends to small and medium sized UK enterprises, slumps nearly 77 percent following the group's profits warning late on Friday, prompting Teathers to repeat its "reduce" recommendation.

Reuters Messaging rm://david.brett.reuters.com@reuters.net

07:57GMT 20Oct2008-JJB Sports gains after stake sale

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Shares in JJB Sports gain over 11 percent after the company sells about 5 percent of its stake to Sports Direct International at a price of 28.5 pence per share.

Altium Securities lifts its target price to the placing price from 19 pence and its trading recommendation to "neutral" from "sell", saying the move "eases financial pressures somewhat."

ReutersMessagingrm://tricia.wright.reuters.com@reuters.net

07:50GMT 20Oct2008-BSS Group rises; Citigroup ups to "hold"

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Shares in BSS Group rebound 4.8 percent with the company's shares having fallen 25 percent since Oct 14, after Citigroup raises its recommendation on the company to "hold" from "sell" on valuation grounds.

Citigroup says recent comments by UK builders' merchants have signalled that trading is deteriorating sharply, but it believes that BSS' shares are already discounting the poor outlook.

However, the broker, which expects like-for-like volumes to fall by as much as 10 percent and price inflation to fade to low single digits, has reduced its estimates for BSS as well as SIG, whose shares are up 1.5 percent, and Travis Perkins, whose shares are down 2.8 percent.

Reuters Messaging rm://david.brett.reuters.com@reuters.net

05:51GMT 20Oct2008-FTSE seen opening 19-40 points higher

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The FTSE 100 index is seen opening 19 to 40 points, or as much as 1 percent, higher on Monday, financial bookmakers said, extending the previous session's rise and tracking gains in the Asian markets. The UK blue chip index closed up 201.6 points, or 5.2 percent, higher at 4,063.01 on Friday.

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dominic.lau@reuters.com

05:44GMT 20Oct2008-Corporate agenda for Monday

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SENIOR Q3 TRADING

paul.sandle@reuters.com

Keywords: MARKETS STOCKSNEWS UK tf.TFN-Europe_newsdesk@thomsonreuters.com ms1

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