STOCKS NEWS EUROPE-Corporate, economic data diaries thin on Mon

STOCKS NEWS Reuters Results diary
Stocks on the move [HOT-RTRS] Real-time Equity News [E] [WEU/EQUITY]

16:04GMT 06March2009-Europe corporate, economic data diaries thin on Mon
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Based on Monday's corporate earnings and economic data diaries, investors
will have little in the way of new information to trade on.

EUROPEAN COMPANIES
DFDS A/S FINAL
Continental AG Q4
Binckbanck NV FINAL
Bovis Homes Group PRELIM
Petrofac Ltd PRELIM
Cookson Group Plc PRELIM

ECONOMIC DATA
0645 CH Jobless Feb
0930 EZ Sentix March

Reuters Messaging rm://peter.starck.reuters.com@reuters.net

15:58GMT 06Mar2009-Allergy rises after jab submission
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Shares in Allergy Therapeutics rise 20 percent as investors take
heed of Wednesday's announcement that the company has submitted a request to
European regulators for marketing authorisation for its hayfever jab.
"It just takes a few days for it to work through because if the market
makers have stock available and people want to buy, they'll buy at current
prices until they run out. Then they have to put the price up and try to draw
out sellers," says Edison analyst Robin Davison, adding that some people may
have just taken a while to wake up to the news.
For more please click on [nL4570813]
Reuters messaging rm://ben.deighton.thomsonreuters.com@reuters.net

15:05GMT 06March2009-EDP jumps on results, liquidity boost
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Stocks in Energias de Portugal rise 6 percent after it announced
higher-than-expected 2008 results and two operations that boost the company's
finances.
EDP, Portugal's main utility said late on Thursday its 2008 results rose 20
percent to nearly 1.1 billion euros. It also said it contracted a 1.6 billion
euro loan from a group of banks and also issued securities backed by government
tariff compensation guarantees worth 1.2 billion euros.
"Although the securitization was expected, it is a strong catalyzer for EDP
stocks as it disperses concerns about its financial situation," Credit Suisse
anaylsts said.
Reuters Messaging rm://andrei.khalip.reuters.com@reuters.net

14:22GMT 06March2009-JP Morgan recommends smallcap market leaders
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Pan-European small and midcaps with market leading positions in their
sectors and solid balance sheets remain an investment case, JP Morgan says in a
note.
"The idea is simple, the strong tend to get stronger during downturns and
are more likely to survive (as scale can provide sourcing/cost advantages, and
diversification)," the brokerage adds.
JP Morgan adds Germany's Rhoen-Klinikum to the "Investment
Opportunities" section of its radar. Other companies of the section include
Kingfisher Plc , Fraport and voestalpine .
Reuters Messaging rm://christoph.steitz.reuters.com@reuters.net

14:17GMT 06March2009-Almirall down on lung drug delays
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Shares in Spanish drug company Almirall fall 3.8 percent after the
company announced delays in filing its aclidinium bromide lung drug with partner
Forest in the United States.
"The lastest delay removes potential for any near-term aclidinium bromide
revenue contribution," Citigroup analysts say in a note.
They add that it also raises the risk that Forest decide to amend or
terminate its partnership agreement, which contributes to 60 percent of the
drug's R&D costs.
For more double click on [nL614090]
Reuters Messaging rm://tracy.rucinski.reuters.com@reuters.net

14:12GMT Peter Hambro rises on gold price, production forecasts
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Shares in Peter Hambro Mining Plc , Russia's second-biggest gold
producer, jump 8.2 percent, helped by higher gold prices and investor confidence
following the release of the company's annual production forecasts.
"There is a little bit of confidence in where the company is heading and the
gold price has helped a fair bit as well," says Tim Dudley, analyst at Arbuthnot
Securities. The shares have been sold off pretty heavily in the last few days as
well, he added.
To see the story please click on [nL6596445]
Reuters messaging rm://julie.crust.reuters.com@reuters.net

13:20GMT 06March2009-UK insurers sink as capital fears persist
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Shares in British life insurers fall steeply for a second day amid
persistent concerns a deteriorating investment climate and falling asset values
will dent the sector's capital base, prompting dividend cuts or rights issues.
Friends Provident is 15.2 percent lower, making it the FTSE 100's
biggest faller, while Aviva , Legal & General , Standard Life
and Prudential are down by between 5.7 percent and 10.5 percent.
"We're just trading on fear," says ING analyst Kevin Ryan. "People are very
worried about the quality of the assets insurers are holding. With zero interest
rates and equity and bond markets that don't offer reliable yields, the game
appears up for insurance companies."
The slump in insurance stocks comes one day after Aviva said it was keeping
its dividend unchanged, prompting concerns that the payout would put extra
strain on its capital base, and wiping a third off its market value.
Reuters Messgaing rm://myles.neligan.reuters.com@reuters.net

Keywords: MARKETS EUROPE STOCKSNEWS

13:19GMT 06March2009-VWD gains on DZ Bank contract
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Shares in German financial data provider vwd Vereinigte Wirtschaftsdienste
AG rise 4 percent after the company said late on Thursday it has
concluded a long-term contract with DZ Bank worth about 40 million
euros ($50.57 million).
"In these uncertain times, the news is particularly good. Above all, the
sales volume is impressive and should have a positive impact," says GSC Research
analyst Klaus Kraenzle.
For more double click on [nEQokmopas]
Reuters Messaging rm://christoph.steitz.reuters.com@reuters.net
($1=.7909 Euro)

12:31GMT 06Mar2009-Banks sink to 16-yr low as gloom returns
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European bank stocks tumble to a 16-year low as more gloom about economic
prospects rattles the sector and revives concern that further government help or
capital raisings will be needed.
The DJ Stoxx European bank index <.SX7P> falls 3.4 percent to 92.4 points,
after sinking to 90.6, its lowest level since late 1992.
Italian banks lead the fall with Intesa SanPaolo down 9.5 percent
and UniCredit down 6 percent amid concern their earnings later this
month will show a bleak outlook.
"We had a series of meetings with Italian banks recently which highlighted
that the outlook for 2009 had deteriorated markedly," analysts at Exane say in a
note, cutting earnings and price targets for six banks.
Dealers and analysts say banks are bearing the brunt of concern that
economies and stock markets have further to fall. The prospect of a sharp rise
in corporate bad debts would put more pressure on the capital of many lenders.
Other fallers include France's Credit Agricole , BNP Paribas
and SocGen , all down over 6 percent, and Britain's HSBC
, down 4 percent.
Reuters Messaging rm://steve.slater.reuters.com@reuters.net
rm://nigel.tutt.reuters.com@reuters.net

12:30GMT 06Mar2009-Payom Solar up as company says 2009 has started strong
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Shares in Payom Solar are 6.8 percent higher in regular trade and
over 10 percent higher in Frankfurt floor trade after the solar company
announces a successful start to 2009 and says it has won a key order.
Payom acquired an order as part of an open space installation with a total
capacity of 2.1 Megawatts and a sales volume of more than 6 million euros ($7.59
million).
Close Brothers analyst Martin Deco says the order accounts for almost 15
percent of his total sales estimates for Payom in 2009.
"We believe that Payom will be able to show an appealing performance in 2009
despite the expected slowdown in growth in the German solar market," he says.
Reuters Messaging rm://tyler.sitte.thomsonreuters.com@reuters.net
($1=.7909 Euro)

12:26GMT 06Mar2009-FTSE Small Caps down 0.7 percent at midday
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The FTSE Small Cap Index <.FTSC> falls further in mid session trade, down
0.7 percent, as the FTSE 100 <.FTSE> recovers some of its earlier losses but is
still down 0.1 percent, while the FTSE 250 <.FTMC> slips 1.6 percent, ahead of
the non-farm payroll figures.
Sexual health specialist Futura Medical slides 11 percent after the
company announces that it will raise 1 million pounds by issuing 5 million
shares at 20 pence per share.
Landkom International , an oilseed rape and wheat
producer, adds more than 2.1 percent after saying it plans to
raise 4.8 million pounds via a share placing to help the company
operate through and beyond this year's harvest, due to begin in
June.
Reuters Messaging rm://david.brett.reuters.com@reuters.net

12:20GMT 06March2009-Seadrill drops on refinancing risk
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Shares in Norwegian offshore oil driller Seadrill
fall 5.4 percent on worries around refinancing of its
rig-building programme.
"It's got nothing to do with the drilling market, people are
just worried about the balance sheet," Fearnley Fonds analyst
Truls Olsen says.
"Seadrill is far from home free. They need to refinance
around $1-1.5 billion in the next 12-18 months," Olsen says.
"With all that is happening to banks, it's not a given that it
will be easy."
Reuters messaging rm://richard.solem.reuters.com@reuters.net

12:17GMT 06March2009-Conergy drops; brokerages cut price
target

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Shares in German solar systems maker Conergy drop
4 percent in Frankfurt's technology index <.TECDAX>, after
Equinet halves its price target in the company to 0.25 euros
from 0.50 euros, and with traders pointing a price target cut by
WestLB to 0.40 euros from 0.70 euros.
"The risk-reward-profile continues to be far away from being
attractive (stretched valuation despite a weak balance sheet)
and ... our new price target of 0.25 euros ... offers a downside
potential of 50 percent," Equinet writes in a note, keeping its
"sell" rating on the stock.
Conergy on Thursday posted a 2008 net loss of 199
million euros ($251.6 million), mainly due to currency losses
and restructuring, and did not give a 2009 outlook.
For more double click on [nL5188699]
Reuters Messaging
rm://christoph.steitz.reuters.com@reuters.net
($1=.7909 Euro)

11:38GMT 06March2009-BT slumps on pension, dividend concerns
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Shares in BT slump 6.8 percent, making them among the
top losers on the FTSE 100 <.FTSE>, after Morgan Stanley
suggests the group may cut the final dividend to pay increased
top ups to its pension.
BT will report its final results in mid May and analysts
have speculated for some time that it will have to cut its
dividend. The group also hopes to report the results of its
pension review at that time.
"We now consider 500 million pounds per year a minimum
top-up level (previously a maximum), with 750 million pounds a
possibility if pension trustees take a more conservative view on
deficit recovery," Morgan Stanley says in a note.
"A zero final dividend is possible, leaving a total dividend
at 5.5 pence and the stock on a significant premium to the
sector."
Reuters messaging rm://kate.holton.reuters.com@reuters.net

11:35GMT 06March2008-Swedbank shares down 10 pct on capital
raising fear

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Shares in Swedish financial services group Swedbank
fall 9.9 percent on concern that it will need to
raise more capital after a 12.4 billion Swedish crown ($1.34
billion) issue in December last year.
"It's a result of worries they will need more capital," says
one analyst who declined to be identified.
Worries are that the firm's loan losses, particularly in the
Baltics and Central Europe, will rise substantially.
Rivals SEB and Nordea have also announced
plans to raise capital.
Separately, Nomura cuts its price target on Swedbank to 22
crowns from 30 crowns. Nomura also cuts Nordea and
Handelasbanken .
Swedbank stock is down nearly 90 percent over the last 12
months.
Reuters messaging rm://oskar.vonbahr.reuters.com@reuters.net
($1=9.239 Swedish Crown)

11:22GMT 06Mar2009-Oerlikon up 10 pct on covenant relief
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Swiss technology group Oerlikon is the top gainer
among Swiss blue chips and midcaps, adding to strong gains the
previous two days after saying it would not breach loan
covenants.
Shares in midcap Oerlikon, which traded at over 400 Swiss
francs less than a year ago, jump 10 percent to 30.60 francs,
against a 0.5 percent fall in the Swiss midcap index. <.SMIM>
"The shares are continuing to rise after the company said it
had fulfilled its debt terms," a trader says. The stock's still
not worth that much, but the gains will have to stop some time."
Reuters Messaging rm://jason.rhodes.reuters.com@reuters.net

11:14GMT 06Mar2009-Bovis Homes down; Panmure expects write-downs
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Shares in Bovis Homes fall 1.2 percent ahead of its full-year
results due out on Monday, with Panmure Gordon saying the outlook is bleak as
far as writedowns and orders are concerned.
The broker says it expects Bovis to announce its first land write-downs as
the market has now fallen far enough to make some sites unprofitable.
Panmure has factored in 60 million pounds of write downs in the 2008
results, and 117 million pounds in 2009 and a further 88.5 million pounds for
2010.
The broker questions whether the pick-up in trade Bovis' peers have seen in
the past 4 to 6 weeks is genuine or just the usual spring bounce, and says,
"forward orders will likely be down around 50 precent".
Reuters Messaging rm://david.brett.reuters.com@reuters.net

10:58GMT 06March2009-STRATEC Biomedical up; to hikes dividend
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Shares in German biotech company STRATEC Biomedical rise 10.7
percent as one of the biggest gainers in Germany's stocks universe <.PG.DE>,
after the company says it aims to propose a dividend increase of 59 percent to
0.35 euros per share for 2008.
"It is definitely a surprise, but I think it is a positive surprise as it
shows management's confidence in the company's business model," says WestLB
analyst Simon Mather, with a "buy" rating on the stock.
For more double click on [nEQvvwegqi]
Reuters Messaging rm://christoph.steitz.reuters.com@reuters.net

10:51GMT 06March2009-SThree falls; demand slows; Panmure cuts ests
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Shares in staffing firm SThree falls almost 5 percent after a
trading update in which the group says it experienced an overall decline in
demand for its services during the first quarter, particularly for permanent
placements.
"With its Q1 performance worse than anticipated, we cut our 2009 and 2010
EPS forecasts by a further 19 percent, although we maintain our target price of
109 pence -- now based on 7 times 2009 EPS," Panmure Gordon says in a note.
The broker keeps its "sell" recommendation on the stock.
For more double click on [nWLA9077]
Reuters Messaging rm://tricia.wright.reuters.com@reuters.net

10:50GMT 06March2009-Takkt falls on negative 2009 statements
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Shares in German business-to-business mail order company Takkt
drop 6.5 percent to the bottom of Frankfurt's smallcap index <.SDAXI> after the
company says that a strong business decline in the fourth quarter of 2008 has
continued in the beginning of 2009.
The company says that on the basis of the figures for the months of January
and February, sales have declined organically by about 30 percent year-on-year.
"The market was prepared for bad news, but today's statement is worse than
expected," says an analyst.
Takkt says it is implementing further measures to adjust capacities and
costs such as short-time working.
For more double click on [nEQqetzplk]
Reuters Messaging rm://christoph.steitz.reuters.com@reuters.net

10:48GMT 06Mar2009-Futura Medical falls after placing
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Shares in sexual health specialist Futura Medical fall 11 percent to
23 pence after the company announces that it will raise 1 million pounds by
issuing 5 million shares at 20 pence per share.
Edison analyst Zhining Xu says the discount wasn't too bad given the market
conditions.
To see the company statement please click on [nRnsF4326O], to see the
article click on [nL6623425]
Reuters messaging rm://ben.deighton.thomsonreuters.com@reuters.net

10:26GMT 06March2009-Evotec soars; appoints new CEO
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Shares in German biotech company Evotec rise 14.8 percent, the
second-highest gainer in Germany's stocks universe <.PG.DE>, after the company
says it has appointed Werner Lanthaler as its new chief executive.
"After former CEO Joerg Aldag resigned in December, it was unclear how long
it would take until the company finds a new one," says Oppenheim Research
analyst Christian Peter.
"Mr Lanthaler has a good track record and is considered to be an expert in
the field. All in all, this is a positive sign."
Lanthaler previously held the job of chief financial officer at biotech peer
Intercell .
For more double click on [nWEA1029]
Reuters Messaging rm://christoph.steitz.reuters.com@reuters.net

10:23GMT 06Mar2009-Marshalls up; Numis ups to "add" post FYs
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Shares in Marshalls rise 1.4 percent as Numis upgrades the British
building materials company to "add" from "hold" after the company posts its
full-year results, which the broker says are in line with its estimates.
Marshalls reports a 45 percent fall in full-year profits as delays and
cancellations hit revenues which shrank 6 percent, and the company cut its final
dividend to 6 pence as weakening demand clouded its 2009 outlook.
"We feel this is a creditable performance in light of the tough trading
backdrop," says Numis in a note.
The broker says action taken by Marshalls -- cutting its dividend and
improving cash management -- "should ensure that the group continues to
outperform its peers and remain well placed for the eventual upturn".
For more double click on [nL6670328]
Reuters Messaging rm://david.brett.reuters.com@reuters.net

10:15 GMT 6Mar2009 - Lottomatica up as 2008 results please; UBS "buy"
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Italy's gaming company Lottomatica SpA rises 3.3 percent after
brokers gave a broadly positive reception to 2008 results and outlook late on
Thursday.
Swiss bank UBS leaves its "buy" rating unchanged with a 26 euro price
target. Deutsche Bank confirms its "buy" rating with a 16.5 euro target. Exane
BNP Paribas reiterates its "underperform" with an 11.5 euros target.
"Despite the limited downside we maintain our 'underperform' rating due to
the uncertain outlook, and in particular, to the upcoming tender on
Scratch-and-Win," Exane said, noting potential competition for this Italian
concession.
Lottomatica announced 2008 net profit below expectations because of one-off
items, EBITDA above expectations, an unexpected dividend cut, and said there are
positive signs in early 2009.
Reuters messaging rm://nigel.tutt.reuters.com@reuters.net

10:13GMT 06March2009-Computacenter up ahead of FY; Panmure "buy"
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Shares in IT firm Computacenter add 1.9 percent ahead of full-year
results, with Panmure Gordon saying the company's improving business model is
acting as a foil against a poor PC demand environment.
"Computacenter is looking at a higher gross margin in Germany, better
contract conditions in the UK, increasing server and attach sales, a de-layered
management and a better configuration as a services company," Panmure says in a
note, keeping its "buy" rating on the stock.
The broker says it expects results to be in line with the trading update
from Jan. 13, and notes that Computacenter is poised to enter the FTSE 250 -- a
decision to be made at the market close on March 10 -- which it says should
create further interest in the shares.
Reuters Messaging rm://tricia.wright.reuters.com@reuters.net

10:11GMT 06March2009-KUKA drops after DZ Bank cuts fair value
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Shares in German robotics maker KUKA drop 4.3 percent on
Frankfurt's midcap index <.MDAXI>, after DZ Bank cuts its fair value assessment
on the company, citing poor overall economic conditions.
"As (a) systems supplier and car body supplier for the automobile industry,
KUKA is in our opinion unlikely to be able to avoid the effects of the still
difficult environment," DZ Bank writes, with a "sell" rating on the stock.
"Based on our earnings estimates which we have lowered once again, we derive
a new fair value of 7 euros."
Reuters Messaging rm://christoph.steitz.reuters.com@reuters.net

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