|
(AFX UK Focus)
2008-11-14 10:10
Glance-RPT-STOCKS NEWS EUROPE-GTL Resources slides on supply concerns |
|---|
| Article layout: raw |
|
(refiles to include item in chain)
09:50GMT 14Nov2008-GTL Resources slides on supply concerns ---------------------------------------------------------- Shares in GTL Resources are marked down 4.8 percent to 20 pence after rival ethanol producer VeraSun Energy Corp says its annual losses may be four times greater than the previously reported $99 million loss, as it struggles to secure corn feedstock at market prices. "We expect to see further reduced ethanol supply into the market assisting in the narrowing of spreads moving forward. We are now at a critical point in the corn ethanol market as current prevailing crush spreads are insufficient for many less-efficient plants to operate profitably," says Arbuthnot analyst David Cunningham. For more, click on Reuters messaging rm://rhysl.jones.reuters.com@reuters.net 09:43GMT 14Nov2008-Dexia falls after Q3 results, unit sale ----------------------------------------------------------- Shares in Franco-Belgian financial services group Dexia fall nearly 5 percent after it reports a heavy 1.54 billion euro loss and sells its U.S. subsidiary Financial Security Assurance to Assured Guaranty. The DJ Stoxx European banking index is up 2.2 percent. "At first the reaction was that they finally got rid of FSA. Then investors looked a bit further and found they are not selling it entirely," a Brussels-based trader says. The fact that Dexia receives Assured Guaranty shares and that France and Belgium could end up with higher stakes in Dexia pressure the stock, traders say. For more double click on Reuters Messaging rm://philip.blenkinsop.reuters.com@reuters.net 09:37GMT 14Nov2008-Logica up as Q3 sales beat expectations -----------------------------------------------------------
Shares in Logica rise as much as 9 percent to 82.25 pence,
before retreating to 76 pence, as the Anglo-Dutch IT services firm posts
better-than-expected third quarter sales and raises its full-year revenue growth
positive-ish", and pleasingly the order book is 13 percent up on Q3. "Despite seeing a downturn in 2009, Logica still expects growth and margin improvement of 0.5 percent," he says. "We reserve judgement on this one," he adds, and retains his "hold" recommendation. For more click on, statement Reuters Messaging rm://paul.sandle.reuters.com@reuters.net 09:14GMT 14Nov2008-Yell up as Teathers starts as "hold" ------------------------------------------------------- Shares in Yell Group climb 4.2 percent as Teathers initiates its coverage with a "hold" recommendation, following the British directories company's robust first-half numbers on Tuesday. Teathers analyst Charles Peacock says in a note: "The headline results were assisted by U.S. dollar and Euro exchange rates movements and some rescheduling of Spanish directories." Teathers says the strong numbers have enabled Yell's management to reiterate full-year guidance for EBITDA to be broadly flat. For more double click on Reuters Messaging rm://david.brett.reuters.com@reuters.net 09:05GMT 14Nov2008-Dyson plunges on profit warning ------------------------------------------------- Shares in Dyson Group Plc plunge 45 percent to 18 pence after the company, which develops high performance materials used primarily in the automotive industry, says it expects to miss a full-year profit target due to falling sales volumes and could breach its banking covenants next year if the downturn worsens. "The automotive industry is obviously suffering -- particularly in the United States -- and Dyson's second half will not be as good as the first half, which is disappointing but not actually that bad in the context of the sector. The company is only likely to breach its covenants if the situation gets very much worse though," say KBC Hunt traders. For more, click on Reuters messaging rm://rhysl.jones.reuters.com@reuters.net 09:03GMT 14Nov2008-Vernalis rises as Acambis team takes over ------------------------------------------------------------ Shares in UK biotech firm Vernalis rise 12 percent after it announces that the former top team at Acambis is to take over management of the company. "You'd point towards the success they had at Acambis," says Panmure analyst Damian McNeela. Acambis announced in July that it had agreed a 276 million pounds bid from development partner Sanofi-Aventis. For more click on Reuters messaging rm://ben.deighton.reuters.com@reuters.net 08:35GMT 14Nov2008-Salamander Energy bounces after update --------------------------------------------------------- Shares in Salamander Energy up 15.5 percent, topping the FTSE 250 leaders board with the stock rallying after a recent volatile performance as a trading update provides some reassurance. Oriel Securities says Salamander's interim management statement contains little new information but reaffirms that near-term production at the group growth is on track. Another analyst points out that Salamander's share price has been "ludicrously volatile" recently, as has the sector, and the stock is simply reacting with the market rally today. Reuters Messaging:jon.hopkins.reuters.com@reuters.net 08:28GMT 14Nov2008-FTSE Small Cap Index up 0.9 pct early on ----------------------------------------------------------- The FTSE Small Cap Index climbs 0.9 percent in early trade as UK markets rally following a strong performance on Wall Street on Thursday, with the FTSE 100 Index up 3.2 percent. New Star Asset Management rises 12.5 percent as traders look past a mainly bleak trading update, choosing to focus on the positive that it has managed to its financial covenants in respect of its bad debt. Reuters Messaging rm://david.brett.reuters.com@reuters.net 08:20GMT 14Nov2008-Minster soars on cash levels ----------------------------------------------- Shares in Minster Pharmaceuticals rise by 31 percent after its cash level surprises investors and as it draws closer to a key clinical result. "It (the cash level) was 9 million pounds at the end of September and we had our forecast at 6.2 million, so it's quite a big difference. We are also getting closer to clinical data coming out early next year from a big phase 2b study, it's the pivotal information that everyone's waiting for," says Gary Waanders, analyst at Nomura Code. To see the Minster statement please click on Reuters messaging rm://ben.deighton.reuters.com@reuters.net 06:44GMT 14Nov2008-Corporate agenda for Friday ----------------------------------------------
ATLAS ESTATES Q3
BLUEBAY ASSET AGM
LOGICA TRADING
TULLETT PREBON TRADING
OCEAN WILSON TRADING
NOVAE HOLDILNGS TRADING
YALE CATTO TRADING
rm://paul.sandle.reuters.com@reuters.net COPYRIGHT Copyright Thomson Reuters 2008. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. |
| At a Glance Share Guide Stocks |
| Article layout: raw |
|