STOCKS NEWS UK SMALL-Allergy Therapeutics soars on debt talk
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11:19GMT 13May2009--Allergy Therapeutics soars on debt talk
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Shares in hayfever specialist Allergy Therapeutics (AGY.L) soar 39 percent on talk that the company is poised to announce a renegotiation of its debt.
"There might be a bit of speculation on the part of retail investors, and I think it's speculation about the refinancing of the debt agreement, the timing fits," said one analyst.
In its half year report at the end of March the company said that it was confident the debt discussions would be resolved "swiftly". [ID:nRnse7591P]
Reuters messaging rm://ben.deighton.thomsonreuters.com@reuters.net
11:15GMT 13May2009-VT Group up on results, order visibility
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Shares in VT Group (VTG.L) rise 7 percent after the British defence and support services company beats forecasts with a 41 percent rise in underlying full-year profit and says forward orders are strong.
The company is confident it will continue to win orders from the defence departments of both Britain and the United States despite current budget constraints and expects to see despite current budget constraints and expects to see outsourcing expand.
"The order book is up 12 percent to 4.5 billion pounds and the company essentially already knows its revenue line for 2010 and 2011 and this underpins the visibility and flexibility," says Evolution analyst Harry Philips, who retains a "buy" recommendation on the stock. Continued...
