STOCKS NEWS EUROPE-Piaggio up 6 pct on sales data
STOCKS NEWS Reuters Results diary
Stocks on the move [HOT-RTRS] Real-time Equity News [E] [WEU/EQUITY]
14:03GMT 2April2009-Piaggio up 6 percent on sales data
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Shares in Piaggio , best known for the Vespa scooter, rise 7.7 after
the latest data shows Italian sales of two-wheelers rose 7.8 percent in March, a
Milan trader says.
The rise to 49,682 units for the month was partly due to government
incentives, introduced in February, to encourage the purchase of new, less
polluting vehicles, the industry body Confindustria says in the data published
earlier on Thursday.
Reuters Messaging rm://mariapia.quaglia.reuters.com@reuters.net
13:36GMT 02April2009-Europe stocks stay up as Wall St. rises
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European shares stay higher as Wall Street rises in early trade on optimism
the G20 meeting underway in London will agree on ways to temper the economic
crisis with banking stocks and commodities the major gainers.
The pan-European FTSEurofirst 300 <.FTEU3> is up 3.2 percent at 769.13
points.
Banking stocks are higher with HSBC , BNP Paribas , Banco
Santander and Standard Chartered up 5.9-12.7 percent.
Commodities gain as crude and metal price rise. BG Group ,
Total and Royal Dutch Shell are up 1.6-3.1 percent.
Reuters Messaging rm://joanne.frearson.thomsonreuters.com@reuters.net
13:30GMT 02April2009-Hansteen rises on robust results
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Shares in Hansteen Holdings rise 12 percent after the property
company reports robust income and occupancy in 2008 and maintains its dividend.
KBC Peel Hunt, which has a "buy" rating on the stock, says a fall in NAV per
share of only 7 percent to 128 pence on a portfolio with initial yield already
at 8.4 percent shows the potential for resilience during the downturn.
The brokerage forecasts a cycle low-point NAV of 107 pence and says:
"Hansteen has delivered sector-beating performance and demonstrated resilient
income capability."
To see Hansteen's statement please click on [nRn1B9719P]
Reuters messaging rm://austin.lobo.reuters.com@reuters.net
13:25GMT 02April2009-Intercede up; co. sees maiden profit
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Shares in Intercede rise 6 percent as the company says it sees a
maiden full-year profit and a likely 90 percent leap in revenue for the year to
end-March, reflecting strong demand for its ID software.
Finncap analyst Andrew Darley says Intercede's trading update points to a
"dramatic improvement on any metric".
"Newsflow shows that Intercede both continues to develop revenue from
existing contracts and by winning new contracts," he says in a note. "While the
pipeline continues to build, established licences deliver."
For company statement, click on [nRnsB9670P]
Reuters messaging rm://paul.sandle.reuters.com@reuters.net
13:04GMT 02April2009-888 up; Jeffries cuts to "hold" on outlook
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Shares in 888 Holdings <888.L> fall 5.4 percent as Jeffries downgrades the
stock to "hold" from "buy" saying it sees the impact of the recession and
currency devaluations slowing underlying growth.
"While full-year results (released on Monday) were in line ... the company
has low visibility for the year ahead," says Jeffries, which also cuts its
target price to 105 pence from 115 pence.
The broker says first quarter revenue is expected to be down on fourth
quarter overall, adding that this is already a soft comparison with currency
moves and lower gameplay impacting in the last quarter.
Jeffries adds: "Near-term growth prospects remain challenged, we believe the
shares will struggle to go much higher."
Reuters Messaging rm://david.brett.reuters.com@reuters.net
12:45GMT 02April2009-Transeuro plummets, can't afford auditor
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Oslo-listed shares in Canadian energy firm Transeuro Energy Corp
plummet 40 percent after the company says it has not filed annual audited
statements to authorities in March.
"The audit has not been completed because the company does not have funds to
pay its auditor," Transeuro says in a statement.
"An application has been made to extend the filing date until the end of
April but there has been no indication whether this will be considered," it
says.
For more on the company, double click on [TRAE.OL]
Reuters messaging rm://richard.solem.reuters.com@reuters.net
11:57GMT 02April2008-Turkish banks rise on profit expectations
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Turkish banking shares, including Akbank and Garanti ,
jump on expectations they'll report a rise in profit in the first quarter
because of wider interest margins following five consecutive rate cuts from the
Central Bank.
"Investors are starting to price in the strong results banks are expected to
report for the first quarter," says Bulent Sengonul, deputy research director Is
Invest in Istanbul.
Akbank, the biggest Turkish bank by market value, climbs 6.9 percent;
Garanti gains 5 percent. The Istanbul bourse's banking index is up 4.7 percent.
The shares are also buoyed by rising global markets after a rate cut from
the European Central Bank and on hopes world leaders meeting at the G20 summit
in London on Thursday will agree on steps to stimulate the global economy,
Sengonul adds.
European banks are also stronger; the DJ Stoxx banking index <.SX7P> rose
5.6 percent.
Reuters Messaging rm:// ayla.yackley.reuters.com@reuters.net))
11:56GMT 02April2009-Tognum rises; DZ Bank keeps "buy" rating
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Shares in German engine maker Tognum rise 8.4 percent to 7.22
euros in Frankfurt's midcap index <.MDAXI>, after DZ Bank keeps its "buy" rating
and fair value of 9.50 euros in the stock.
"The investment case is clearly based on the long-term fundamentals and not
on short-term aspects," the brokerage says.
Reuters Messaging rm://christoph.steitz.reuters.com@reuters.net
11:54GMT 02April2009-Findel up; sales to impact profits positively
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Shares in Findel swing into positive territory, up 11 percent, with
Seymour Pierce saying it sees the dispoal of Findel's loss-making Cotswold
Company and Letterbox units as having a "positive impact on pre-tax profits
going forward."
Management says that the combined result of these actions will be to reduce
trading losses and operating costs by 8 million pounds.
Seymour Pierce, which repeats its "buy" rating on the company, says in a
note, the stock "is currently valued at 2.0 time 2008/2009 earnings and is, in
our view, oversold."
The broker also places its forecasts under review and says: "The company
will, in our view, remain within its covenants through careful debt management,
significantly reduced customer recruitment and a cut in the 2009/2010 dividend."
For more double click on [nL2165857]
Reuters Messaging rm://david.brett.reuters.com@reuters.net
Keywords: MARKETS EUROPE STOCKSNEWS
11:16GMT 02April2009-UK Small caps up 2.7 percent at midday
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The FTSE Small cap index <.FTSC> climbs in mid session trade, up 2.7
percent, as the wider UK market continues its rally with the FTSE 100 <.FTSE>
also rising 2.7 and the FTSE 250 <.FTMC> 3.1 percent higher.
Home shopping and education supplies firm Findel reverses early
losses, rising 10.7 percent, as Seymour Pierce, which repeats its "buy" rating
on the company, sees the closure Findel's loss-making Cotswold Company and
Letterbox units as having a "positive impact on pre-tax profits going forward."
Hexegon Human Capital plunge 23.2 percent as the recruitment
consultant says offer talks, announced in February 2008, have been terminated,
with Brewin Dolphin downgrading its earnings forecasts on the back of this news
and the company's trading update.
Reuters Messaging rm://david.brett.reuters.com@reuters.net
10:53GMT 02April2009-BES jumps after end of rights trade
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Stocks in Portugal's second-largest listed bank BES soar 8.2
percent to eight-day highs of 3.33 euros after trade in subscription rights,
part of an ongoing 1.2 billion euro cash call, ended the previous day, relieving
arbitrage pressure on the shares.
"Today, the stocks are recovering to levels seen before the rights trade
started. Also, in terms of estimated price earnings ratio for 2009, BES fares
quite well compared to the average of most European banks and will have a strong
capital ratio" after the cash call, one Lisbon-based banking analyst says.
Subscription rights started trading on March 24. BES is yet to launch new
stocks under the capital increase plan later this month. BES stocks outperform a
2.4 percent rise in the broader market in Lisbon, where rival Millennium bcp
is up 2 percent. DJ Stoxx European banking sector index <.SX7P> is up
6.8 percent.
Reuters Messaging rm://andrei.khalip.reuters.com@reuters.net
10:22GMT 02April2009-ATH Resources up; H1 sales up 6 pct
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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 [nL0569415]
Reuters Messaging rm://david.brett.reuters.com@reuters.net
10:12GMT 02April2009-Intec Telecom up on contract wins
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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 [nBNG494316]
Reuters Messaging rm://tricia.wright.reuters.com@reuters.net
10:02GMT 02April2009-Innovation up on insurance platform launch
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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 [nRnsB9814P]
Reuters messaging rm://purwa.naveen.reuters.com@reuters.net
09:45GMT 02April2009-Chloride higher on "reassuring" trading update
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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 [nRnsB9602P]
Reuters Messaging rm://tricia.wright.reuters.com@reuters.net
09:29GMT 02April2009-Kewill up on major contract win, broker "buy"
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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 [nRnsB9815P]
Reuters Messaging rm://david.brett.reuters.com@reuters.net
09:12GMT 02April2009-Matchtech falls on cautious outlook
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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 [nRn1B9710P]
Reuters Messaging rm://tricia.wright.reuters.com@reuters.net
09:09GMT 02April2009-Amiad Filtration up; FY PBT up 13 percent
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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 [nRnsB9712P]
Reuters Messaging rm://david.brett.reuters.com@reuters.net
08:07GMT 02April2009-UK small caps gain 1.4 percent early
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The FTSE Small Cap index <.FTSC> gains 1.4 percent in early trade, faring
worse than both the blue chips <.FTSE> and the midcaps <.FTMC>, up 2.9 percent
and 2.8 percent, respectively.
Shed Media gains 3.3 percent after the television production company
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 [nL258923]; for more on Findel
double click on [nL2205300]
Reuters Messaging rm://tricia.wright.reuters.com@reuters.net
08:15GMT 02April2009-UK Miners up as metal prices strengthen
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UK listed mining companies <0#.FTMIN> 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 <.FTSE> 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
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The FTSE Small Cap index <.FTSC> gains 1.4 percent in early trade, faring
worse than both the blue chips <.FTSE> and the midcaps <.FTMC>, up 2.9 percent
and 2.8 percent, respectively.
Shed Media gains 3.3 percent after the television production company
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 [nL258923]; for more on Findel
double click on [nL2205300]
Reuters Messaging rm://tricia.wright.reuters.com@reuters.net
08:06GMT 02April2009-UK housing data lift builders, property firms
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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 [nL2581165]
Reuters Messaging rm://kylie.maclellan.thomsonreuters.com@reuters.net
08:04GMT 02April2009-Mears Group rises on contract win
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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 [nBNG425837]
Reuters messaging rm://srikanth.srinivasa.reuters.com@reuters.net
08:02GMT 02Apr2009-Findel slips on education supplies worries
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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 [nL2165857]
Reuters Messaging: rm://mark.potter.reuters.com@reuters.net
07:59GMT 02April2009-Booker up as Q4 trading beats expectations
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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 [nL248428]
Reuters messaging rm://rhysl.jones.reuters.com@reuters.net
07:57GMT 02April2009-Michelin soars after U.S. fund boosts stake
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Shares in tyre maker Michelin soar 10 percent, making them the
second best gainer on the FTSEurofirst 300 <.FTEU3> 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
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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
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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 [nL1655296], 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 <.SX7P> 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
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Shares in Gerresheimer rise 5 percent, making them one of the top
gainers among German midcaps <.MDAXI> 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 [nWEA5634]
Reuters Messaging rm://tyler.sitte.thomsonreuters.com@reuters.net
07:40GMT 02April2009-Orders fall report hits Beneteau shares
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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
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AstraZeneca shares gain 1.7 percent, outperforming a 1.3 percent
rise in the sector <.SXDP>, 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 [nN01513091]
Reuters Messaging rm://ben.hirschler.reuters.com@reuters.net
07:36GMT 02April2009-Prezzo up; FY PBT beats expectations
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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 [nBNG473554]
Reuters Messaging rm://david.brett.reuters.com@reuters.net
07:30GMT 02April2009-Banks lift Europe shares early; G20, ECB in focus
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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 <.FTEU3> 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. [nL1230573]
Reuters Messaging rm://brian.gorman.reuters.com@reuters.net
07:30GMT 02April2009-Shed Media gains after results
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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 [nL2452896]
Reuters Messaging rm://tricia.wright.reuters.com@reuters.net
07:17GMT 02April2009-Solon gains; sees sales growth in 2009
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Shares in German module maker Solon rise 10.4
percent as the top gainer in Frankfurt's technology index
<.TECDAX>, 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 [nL1954072]
Reuters Messaging
rm://christoph.steitz.reuters.com@reuters.net
rm://tyler.sitte.reuters.com@reuters.net
($1=.7567 Euro)
06:32GMT 02April2009-Futures point to strong gains
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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 [nL2121084]
EUROPEAN COMPANIES REPORTING:
Oce NV Q1
Stolt-Nielsen Q1
Valora Holding FINAL
Barry Callebaut H1
BTG Plc TRADE
Chloride Group PLC TRADE
Treveria Plc PRELIM
Prezzo Plc PRELIM
U.S. COMPANIES REPORTING:
Monsanto Q2
Micron Tech Q2
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
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Reuters Messaging:
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