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13:40GMT 07Nov2008-Meldex falls on financing concerns

Shares in speciality drug company Meldex tumble 14 percent to 10 pence on financing concerns as it announces two directors have sold shares at 7.5 pence each to raise cash which is being lent back to the company as a bridge loan.
"This is clearly highlighting a concern that there are financing issues at the company, it's an unusual thing to do," says Robin Davison, analyst at Edison.
The company has also signed a term sheet with an investment company to inject up to 3 million pounds ($4.71 million) by way of a debt facility to the company.
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12:41GMT 07Nov2008-PetroLatina higher on Colon well hopes

Shares in AIM-quoted oil and gas exploration group PetroLatina Energy Plc jump 5.9 percent to 18 pence after it says it will spud its first well on the Colon prospect in Colombia on November 25. The company believes this prospect has possible recoverable reserves of up to 19.8 million barrels of oil.
Research house Fox-Davies Capital says this is the first well of a 12 well drilling programme aimed at increasing production and booking further reserves. "Given the near-term news flow and the commencement of spudding of the first well, an opportunity exists for PetroLatina to rapidly increase its current production of 280 barrel of oil per day and booked reserves across its licences," the broker said.
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12:03GMT 07Nov2008-Findel up on rate cut boost

Shares in Findel soar 21 percent to 114.75 pence as the market continues to respond to Thursday's 150 basis point interest rate cut, which analysts feel will benefit highly leveraged retailers.
The shopping catalogue and educational supplies company has net debt of around 400 million pounds.

"Lower interest rates will take some pressure off the highly leveraged companies in the sector, including Findel...(but) retailers will still be impacted by the stronger dollar and the likelihood of greater discount activity," says Seymour Pierce analyst Freddie George. Reuters messaging rm://rhysl.jones.reuters.com@reuters.net
10:55GMT 07Nov2008-Protherics rises tracking BTG on deal

Drugs company Protherics rises 14 percent to 42 pence, tracking BTG , which announced a licensing deal on Friday, because BTG has agreed to buy Protherics in an all-share deal.
"If the BTG share price goes up you would expect the Protherics price to go up as well because it's an all share offer," says Edison analyst Jacob Plieth.
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10:45GMT 07Nov2008-STV Group easier on advertising outlook

Shares in Scottish television company STV Group Plc. Plc dip 2.3 percent to 157.75 pence after a cautious trading update. While the group says it is on track to meet its 2008 targets, it warns that 2009 is likely to remain challenging with the national airtime market down by 6.0 percent and the ITV network some 6.0 percent behind this.
Brokers Numis Securities expects to keep its 2008 pretax profits estimate on hold at 11.5 million pounds, at the bottom the current consensus range. For 2009, however, the broker is lowering its profit forecast by 10 percent to 9.5 million pounds to take into account a weaker national advertising market.
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10:31GMT 07Nov2008-Clearstream rises on loan extension

Medical device company Clearstream Technology rises 29 percent to 13.5 pence after it announces that it has increased its term loan with HBOS.
"It's been extended to half a million euros and it's a five-year term now on better conditions as well, so that's probably the reason why it's gone up so much," says Amisha Chohan, analyst at Blue Oar.
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10:19MT 07Nov2008-Prologic plunges after profit warning

Shares in Prologic are marked down 43 percent to 30 pence after the specialist software provider to fashion retailers says half-year profit will be 5 percent lower than the same period last year, resulting in break-even operating profit for the period.
The company, whose clients include Ted Baker and Paul Smith, says its customers have suffered significant falls in trading volumes in September and October, which will hit its software sales.

"This (profit warning) reflects the increasingly difficult conditions facing UK retailers from September...Our new forecasts for 2009 are for sales of 10 million pounds, down from 12.2 million and pretax profit of 0.1 million from 1.7 million," says Arbuthnot analyst Robert Sanders.
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09:52GMT 07Nov2008-Galliford Try falls on write-down

Shares in building and construction group Galliford Try Plc. fall 10 percent to 36.75 pence after it warns that it will have to take a 50 million pound write-down on its housebuilding operations. The group says it is also cautious about prospects for both this year and next.
Stockbrokers KBC Peel Hunt says home sales are now likely to be some 200 below its previous forecast of 1,650 units and that profits for the current year are now expected to come in at around 25 million pounds, some 13 million pounds lower than its previous estimate. For the following year, the broker has cut its pretax estimate by 10 million pounds to 22 million.
Numis Securities says there are better prospects and value elsewhere and recommends Balfour Beatty Plc. in the contracting space and Bellway Plc in the housebuilders.
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09:44GMT 07Nov2008-Robert Wiseman falls; sees H2 hit by cream price

Shares in Robert Wiseman fall 17 percent to 312 pence after the Scottish dairy group warns that lower cream prices may hit its second-half profits by 7 million pounds ($11.13 million).
Numis Securities cuts its recommendation to "reduce" from "hold", lowers its full-year 2009 EPS estimate by 22 percent to 23.7 pence from 30.3 pence and reduces its target price to 330 pence from 350 pence.
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09:15GMT 07Nov2008-Plethora rises on trial result

Shares in urology specialist Plethora Solutions rise 55 percent to 24 pence following a positive Phase III result for its premature ejaculation drug.
"The timing wasn't expected although I would say that a positive result was expected," says Edison analyst Jacob Plieth. "There was a huge sell off last week so the stock plummeted so it's kind of come back to where it was."
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08:49GMT 07Nov2008-Rentokil up after solid Q3 results

Shares in Rentokil Initial rise 4 percent to 48.75 pence after the services group reports slightly better than expected third quarter results and says its turnaround plans are on-track and should take three or four years to complete.
The company, founded in the 1920s, is still suffering from the poor integration of acquisitions and misguided cost-cutting plans by previous management.
"The results were a touch better than our expectations with the over-riding message that the broken businesses were on their way to being fixed, with the possible exception of UK washrooms," says Seymour Pierce analyst Kevin Lapwood.
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08:47GMT 07Nov2008-UK Small Caps gain 0.2 pct early

Britain's FTSE Small Cap index gains 0.2 percent, underperforming blue chips and mid caps, both up 1.7 percent.
The FTSE Developed European Small Cap index is 1.2 percent higher, while the FTSEurofirst 300 adds nearly 1 percent.
BTG climbs 4.4 percent as the biotech company says it is in line for up to $307 million after licensing out a preclinical cancer drug to U.S.-based Onyx Pharmaceuticals.
Model trains and Corgi models group Hornby falls 7.2 percent after the company reports a 33 percent drop in half-time profits to 1.8 million pounds and warns that retail markets have become more challenging.

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08:31GMT 07Nov2008-BTG rises on Onyx deal

British biotech company BTG rises 5 percent after announcing that it is in line for up to $307 million after licensing out a preclinical cancer drug to US based Onyx Pharmaceuticals.
"They've got a lot of money for a preclinical drug ... the deal is very financially attractive although we are also getting more information on the Varisolve trial," says an analyst.
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8:22GMT 07Nov2008-Hornby falls on H1 profits slump

Shares in Hornby Plc, the model trains and Corgi models group, fall 7.2 percent to 122 pence after it reports a 33 percent drop in half-time profits to 1.8 million pounds and warns that retail markets have become more challenging.
Brokers WH Ireland says current consensus estimates of about 8 million pounds for 2008/09 now look "overly optimistic" and that the challenge to margins and volumes would pertain in the second half of the year. "Accordingly, we expect to see downgrades put through and we would recommend avoiding the shares at present," the broker added.
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06:35GMT 07Nov2008-Corporate agenda for Friday

LOK'N STORE YEAR

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