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(AFX UK Focus)
2009-04-02 11:45
Glance-STOCKS NEWS EUROPE-ATH Resources up; H1 sales up 6 pct |
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10:22GMT 02April2009-ATH Resources up; H1 sales up 6 pct -------------------------------------------------------- Shares in ATH Resources surge 18.4 percent as Britain's third biggest coal producer reports a 6-percent rise in first half sales to about 840,000 tonnes and forecasts annual trading is in line with expectations. "Based on our forecast that would mean revenue around 83 million pounds, PBT of 7.2 million pounds and EPS of 12.4 pence, placing the stock on a current year price earnings of just 3.1 times," Seymour Pierce says in a note. "With the company's core business continuing to perform robustly, providing a solid base for earnings and growth in other divisions we maintain our recommendation," says the broker which has a "buy" rating. For more double click on Reuters Messaging rm://david.brett.reuters.com@reuters.net 10:12GMT 02April2009-Intec Telecom up on contract wins ------------------------------------------------------ Shares in billing firm Intec Telecom Systems gain 1.5 percent after the company says it has received two "multi-million" dollar contracts from existing customers in the Europe, Middle East and Africa (EMEA) region and North America. "No change to forecasts, but the news of two new contracts is evidence of solid operational progress," Panmure Gordon says in a note. "Certainly there are weaknesses -- U.S. sales, maintenance sales, falling gross margin -- but the company is being driven well and reconfigured." For more double click on Reuters Messaging rm://tricia.wright.reuters.com@reuters.net 10:02GMT 02April2009-Innovation up on insurance platform launch --------------------------------------------------------------- Shares of Innovation Group Plc rise as much as 8.6 percent after the software group, which ended takeover talks with private equity firm Carlyle on Wednesday, launches its new insurance processing platform with a $3 million contract win. "The platform ... has already been well received by industry analysts and customers," says Altium Securities analyst Jonathan Imlah, who raised his rating to "buy" from "hold". "There is value in Innovation Group ... but after another aborted bid, it may take some time to be realised." To see company statement, click on Reuters messaging rm://purwa.naveen.reuters.com@reuters.net 09:45GMT 02April2009-Chloride higher on "reassuring" trading update ------------------------------------------------------------------- Shares in power supplier Chloride jump nearly 10 percent after a trading update in which the company says product order intake has been solid, with growth in its industrial business offsetting softening in some sectors of the standard business. "Chloride's trading update, for the final quarter of its financial year to March 2009, is reassuring and does not require any change to our estimates," says Arbuthnot Securities in a note. The broker has a "buy" rating on the stock. For more double click on Reuters Messaging rm://tricia.wright.reuters.com@reuters.net 09:29GMT 02April2009-Kewill up on major contract win, broker "buy" ------------------------------------------------------------------ Shares in Kewill Systems gain 8.3 percent as the software and solutions company announces a major freight forwarding contract win with A.P. Moller - Maersk Group, which Piper Jaffray says is a significant step for Kewill. The broker, which repeats its "buy" rating, says: "We estimate that this overall project will be worth multi-million Euros to Kewill and should underpin results for the year to March 2009 and also provide a solid platform for future years." Kewill also announces Finance Director Guy Millward would leave the company on June 30 to join IT services and technology company Morse Plc. "The departure of Guy Millward is a disappointment but he is clearly leaving the company in a strong position," says Piper Jaffray. For more double click on Reuters Messaging rm://david.brett.reuters.com@reuters.net 09:12GMT 02April2009-Matchtech falls on cautious outlook -------------------------------------------------------- Shares in Matchtech are marked down over 10 percent after the recruitment company says the outlook for the rest of the financial year to end-July 2009 is now below the board's previous expectations, with Arbuthnot Securities cutting its forecasts in response. "While the first-half results have been positive (in line with expectations), the company notes that growth in the second quarter has slowed down markedly," Arbuthnot says in a note. Volatility and lack of visibility are the main factors behind the cautious outlook, the broker says, reducing its estimated earnings per share for the year to July 2009 and the year to July 2010 by about 14 percent and about 26 percent, respectively. For more double click on Reuters Messaging rm://tricia.wright.reuters.com@reuters.net 09:09GMT 02April2009-Amiad Filtration up; FY PBT up 13 percent -------------------------------------------------------------- Shares in Amiad Filtration Systems rise 5.9 percent after the supplier of water filter and filtration systems reports a 13 percent in pretax profit for the year to end December 31, 2008, and a bullish outlook. "We're ahead of expectations at the end of fourth quarter 2008 and while we see cost control important in 2009, tighter legislation and a high order backlog coming into the new year will drive the business forward," Arik Dayan, Chief Executive tells Reuters. Aim-listed Amiad posts pretax profit of $6.7 million, with turnover rising to $73.3 million from $57 million in 2007, driven by sales growth in all its main territories, with North America the largest contributor. For more double click on Reuters Messaging rm://david.brett.reuters.com@reuters.net 08:07GMT 02April2009-UK small caps gain 1.4 percent early ---------------------------------------------------------
The FTSE Small Cap index gains 1.4 percent in early trade, faring
worse than both the blue chips and the midcaps, up 2.9 percent
and 2.8 percent, respectively.
unveils a 46 percent rise in pretax profit, with Altium Securities lifting its target price to 95 pence from 90 pence, and reiterating its "buy" rating. Home shopping and education supplies firm Findel falls 5.7 percent as worries about weakness in its education supplies business overshadows news it is closing the loss-making Cotswold Company and Letterbox units to save money. For more on Shed Media double click on; for more on Findel double click on Reuters Messaging rm://tricia.wright.reuters.com@reuters.net 08:15GMT 02April2009-UK Miners up as metal prices strengthen ------------------------------------------------------------ UK listed mining companies rally in early trade as the sector is boosted by rising commodity prices and hopes of fresh stimulus as the G20 conference begins in London, traders say. FTSE 100 miner BHP Billiton rises 6.3 percent, while Kazakhmys climbs 12.2 percent as Citigroup raises its target price to 396 pence from 315 pence and ups its 2010 and 2011 earnings forecasts to 97 cents and 246 cents respectively. Rio Tinto, which is the subject of a proposed $19.5 billion investment by Chinese state-owned metals firm Chinalco, gains 4 percent, and Randgold Resources ticks almost 2 percent higher. Reuters Messaging rm://david.brett.reuters.com@reuters.net 08:07GMT 02April2009-UK small caps gain 1.4 percent early -------------------------------------------------------
The FTSE Small Cap index gains 1.4 percent in early trade, faring
worse than both the blue chips and the midcaps, up 2.9 percent
and 2.8 percent, respectively.
unveils a 46 percent rise in pretax profit, with Altium Securities lifting its target price to 95 pence from 90 pence, and reiterating its "buy" rating. Home shopping and education supplies firm Findel falls 5.7 percent as worries about weakness in its education supplies business overshadows news it is closing the loss-making Cotswold Company and Letterbox units to save money. For more on Shed Media double click on; for more on Findel double click on Reuters Messaging rm://tricia.wright.reuters.com@reuters.net 08:06GMT 02April2009-UK housing data lift builders, property firms ------------------------------------------------------------------ Shares in UK property companies and housebuilders are buoyed by data showing British house prices rose last month, for the first time since October 2007. Property developers Hammerson, Land Securities Group rise 7.7 and 6.4 percent respectively, while house builders Barratt Developments and Persimmon PLC are up 9.3 percent and 5.9 percent. The Nationwide Building Society says house prices rose 0.9 percent on the month in March, after a 1.9 percent drop in February. For more double click on Reuters Messaging rm://kylie.maclellan.thomsonreuters.com@reuters.net 08:04GMT 02April2009-Mears Group rises on contract win ------------------------------------------------------ Shares in Mears Group Plc rise 4.8 percent after the social housing and care home company wins a 50 million-pound contract to provide repairs and maintenance services to Shoreline Housing Partnership. Brokerage Altium Securities, which has a "buy" rating on the stock, says Mears has already performed homes and gas maintenance work for Shoreline. "It is not quite clear what the incremental revenues to Mears are, but we believe that this marks a significant expansion of the contract," analyst Karl Green says. For more, double click Reuters messaging rm://srikanth.srinivasa.reuters.com@reuters.net 08:02GMT 02Apr2009-Findel slips on education supplies worries ------------------------------------------------------------- Shares in Findel drop as much as 12 percent to 70 pence as worries about weakness in its education supplies business overshadows news it is closing the loss-making Cotswold Company and Letterbox units to save money. "It doesn't look like the traditional boost in education (supplies) at the end of the financial year has come through as strongly as hoped," says KBC analyst John Stevenson. "I already had the closures (of the Cotswold Company and Letterbox) in my numbers," he adds. A Findel spokesperson has no immediate comment about the group's education supplies business. For more information please click on Reuters Messaging: rm://mark.potter.reuters.com@reuters.net 07:59GMT 02April2009-Booker up as Q4 trading beats expectations --------------------------------------------------------------- Shares in Booker rise 6.4 percent after the British cash and carry chain beats expectation by delivering a 10.2 percent increase in fourth quarter like-for-like sales excluding tobacco and says its annual profit will be in line with expectations. In a trading update, Booker also says full-year like-for-like sales are up 2.8 percent and that it plans to open a cash and carry in Mumbai, India within six months. "Booker has surprised us with the strength of its trading in the fourth quarter. Such trading materially beats our expectations; it is not often that our estimates are beaten by so much," says Shore Capital analyst Clive Black. For more, click on Reuters messaging rm://rhysl.jones.reuters.com@reuters.net 07:57GMT 02April2009-Michelin soars after U.S. fund boosts stake ---------------------------------------------------------------- Shares in tyre maker Michelin soar 10 percent, making them the second best gainer on the FTSEurofirst 300 index, after U.S. firm Capital Research and Management Company (CRMC) breaks the 10 percent level in ownership of Michelin, owning 10.5 percent of the capital and 8.15 percent of votes, according to a filing with French market regulator AMF. "This certainly fuels speculation on the stock, although a full bid remains to be seen. I think a number of funds are starting to shop around after the market crash, buying stakes in good companies at a very good price," one trader says. In the filing, CRMC told the AMF it only held shares for its clients and had no intention to take control over Michelin. Reuters Messaging rm://blaise.robinson.reuters.com@reuters.net 07:53GMT 02Apr2009-Taylor Wimpey up on reports of debt deal ----------------------------------------------------------- Shares in housebuilder Taylor Wimpey rise 19 percent as the Financial Times reports it has struck a deal with a group of its main creditors, bringing close to completion long-running talks to restructure its debt and secure its future. The FT says Taylor Wimpey has already won the support of main creditors for the refinancing which would see it move to debt covenants based on its cash flow and gearing rather than EBITDA, which is seen as challenging due to the state of the British housing market. Shares in Taylor Wimpey have lost over 85 percent of their value over the past 12 months on concerns it would breach crucial banking agreements relating to its 1.55 billion pound debt. Last month, it agreed a deferral on its loan covenant test after saying refinancing talks were taking longer than hoped. Other housebuilders push higher as well helped by news British house prices rose for the first time since October 2007 in March, according to the Nationwide Building Society, with Barratt Development and Bovis Homes up 5 and 7.8 percent respectively. Reuters messaging rm://matthew.scuffham.reuters.com@reuters.net 07:45GMT 02April2009-Banks hit 7-week high as D.Bank upbeat ----------------------------------------------------------- European banks surge 5 percent to hit a 7-week high, some 55 percent above the March low, as gains in overseas markets and upbeat comments from Deutsche Bank add to an improving mood across the sector. Deutsche Bank's operating revenues were "solid" in March, CEO Josef Ackermann told the Financial Times, backing up comments from other banks that capital markets recovered strongly in Q1. Ackermann also reiterated his bank did not need to raise capital. Its shares add 6.6 percent. Barclays leads gainers with an 8.2 percent jump, after a week of positive news soothes worries it needs to raise capital. HSBC jumps 6.9 percent a day before its 12.9 billion pound rights issue closes, aided by a 15 percent surge by its Hong Kong shares. The DJ Stoxx European bank index rallies 5.2 percent to 135.8 points, its highest since Feb. 10 and up from a 16-year low of 87.2 in early March. Reuters Messaging rm://steve.slater.reuters.com@reuters.net 07:40GMT 02April2009-Gerresheimer up on good Q1 figures, outlook confirmed -------------------------------------------------------------------------- Shares in Gerresheimer rise 5 percent, making them one of the top gainers among German midcaps as the scientific plastics and glass specialist releases first quarter figures, which are largely in line with forecasts and reiterated its guidance for the year. "The margin target was above consensus and the confirmed guidance should help the shares," a Frankfurt-based trader says. For more double click on Reuters Messaging rm://tyler.sitte.thomsonreuters.com@reuters.net 07:40GMT 02April2009-Orders fall report hits Beneteau shares ------------------------------------------------------------ Shares in Beneteau fall as much 5.1 percent after daily Le Figaro reports the French boat maker may cut between 700 and 800 jobs to adjust to a 50 percent fall in orders since January. Beneteau says in an e-mail to Reuters that it is reviewing its prospects for the 2010 season and talking to staff representatives but it does not discuss the figures cited by the French paper. "The crisis is worsening in the leisure boat sector. Beneteau should weather this crisis but its cash surplus should quickly narrow. The sector is bound to consolidate," says CM-CIC Securities in a note, keeping a "sell" rating on the stock. Reuters Messaging rm://dominique.vidalon.reuters.com@reuters.net 07:38GMT 02April2009-AstraZeneca buoyed by diabetes drug news ------------------------------------------------------------- AstraZeneca shares gain 1.7 percent, outperforming a 1.3 percent rise in the sector, after a U.S. advisory panel decides its Onglyza diabetes drug poses no excessive heart risk and could be a promising treatment. The move clears the way for the medicine, which AstraZeneca is developing with Bristol-Myers Squibb, to reach the market earlier than some analysts had xpected. Deutsche Bank says its current forecast for a 2010 launch could prove too conservative and an approval as early as the end of this month could generate an additional $750 million of sales and might add 2-3 percent to earnings per share. For more double click on Reuters Messaging rm://ben.hirschler.reuters.com@reuters.net 07:36GMT 02April2009-Prezzo up; FY PBT beats expectations --------------------------------------------------------- Shares in Prezzo climb 6.4 percent after the British pizza restaurant posts an 8 percent rise in adjusted pretax profit, with Numis saying the results and current trading are marginally better than it expected. "Prezzo's strong cash generation and robust balance sheet leaves it well placed for recovery," Numis, which repeats its "add" rating and lifts it target price to 30 pence from 27 pence, says in a note. For the 52 weeks ended Dec. 28, 2008, the company reports pretax profit before one-off items of 11.5 million pounds ($16.6 million), compared with 10.6 million pounds a year ago. Revenue grew 22 percent to 85.9 million pounds. For more double click on Reuters Messaging rm://david.brett.reuters.com@reuters.net 07:30GMT 02April2009-Banks lift Europe shares early; G20, ECB in focus ---------------------------------------------------------------------- European shares rise sharply on hopes that an economic downturn is moderating, with investors training their sights on a G20 leaders' meeting and a European Central Bank rate decision. The FTSEurofirst 300 index of top European shares is up 2.8 percent, on track for its third straight day of gains, helped by better-than-feared U.S. home sales and factory data on Wednesday. Banks are among the early gainers. Barclays, HSBC, Societe Generale and UBS rise between 2.5 and 7.8 percent. Analysts expect the ECB to take euro zone interest rates down to an all-time low of 1.0 percent when the bank announces its decision at 1145 GMT. G20 leaders are in London to discuss the global financial crisis. France and Germany have demanded they act fast on promises to prevent a repeat of the worst economic crisis since the 1930s. Reuters Messaging rm://brian.gorman.reuters.com@reuters.net 07:30GMT 02April2009-Shed Media gains after results --------------------------------------------------- Shares in television production company Shed Media gain 6.6 percent to 65 pence after the group unveils a 46 percent rise in pretax profit, with Altium Securities lifting its target price to 95 pence from 90 pence, and reiterating its "buy" rating. Altium says in a note that from an outlook perspective, full-year 2009 has started well with 61 percent and about 50 percent of budgeted production and intellectual property revenue, respectively, already secured. "We believe this impressive momentum is a clear indication of the extent to which Shed has developed in recent years and regard an attractive portfolio of genres, highly successful brands, and broadcaster relationships, a very experienced management team, a robust financial position, and an extremely cost effective business model as key attractions," the broker says. For more double click on Reuters Messaging rm://tricia.wright.reuters.com@reuters.net 07:17GMT 02April2009-Solon gains; sees sales growth in 2009 ----------------------------------------------------------- Shares in German module maker Solon rise 10.4 percent as the top gainer in Frankfurt's technology index , after the solar company says it expects moderate sales growth in 2009, with net profit seen growing less than revenues. "Solon issued guidance which said in a best-case scenario, the company would see moderate growth in 2009. This was much better than analysts' estimations and it is helping to lift the shares higher," says a Frankfurt-based. The company also confirms its preliminary 2008 figures with sales of 815 million euros ($1.08 billion) and EBIT of 60 million euros. For more double click on
Reuters Messaging
rm://christoph.steitz.reuters.com@reuters.net
($1=.7567 Euro) 06:32GMT 02April2009-Futures point to strong gains -------------------------------------------------- European stock index futures rise strongly, pointing to a firmer start after U.S. and Asian stock markets rallied on hopes for an economic growth recovery. At 0638 GMT, futures for the DJ Euro Stoxx, Germany's DAX and the French CAC are between 2.7 and 3.1 percent higher. For more on the European day ahead, see EUROPEAN COMPANIES REPORTING:
U.S. COMPANIES REPORTING:
ECONOMIC DATA/CENTRAL BANKS: 0600 GB House prices March 0645 FR PPI February 1145 EZ ECB rate decision 1230 US Weekly jobless claims 1400 US Durable goods February 1400 US Factory orders February Reuters Messaging: peter.starck.reuters.com@reuters.net Reuters Messaging: brian.gorman.thomsonreuters.com@reuters.net Keywords: MARKETS EUROPE STOCKSNEWS =3
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