STOCKS NEWS EUROPE-Sportech up after submits VAT claim

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09:45GMT 01April2009-Sportech up after submits VAT claim

-------------------------------------------------------- Shares in betting firm Sportech (ROD.L) gain more than 3 percent after the company says it has submitted a claim to Her Majesty's Revenue & Customs to recover "in excess of 40 million pounds" in overpaid VAT for its Spot the Ball game offered between 1979 and 1996.

"We caution a successful outcome is not guaranteed and the process is likely to drag on for a number of years, but see the claim as yet another positive catalyst which is not, in any way, reflected in the current 5 times P/E, 5 times EV/EBITDA, 15 percent FCF yield valuation," Investec Securities says in a note.

The broker highlights that the amount could increase to over 100 million pounds including interest.

Investec has a "buy" rating on the stock.

Reuters Messaging rm://tricia.wright.reuters.com@reuters.net

09:35GMT 01April2009-Novo Nordisk bounces as drug hopes revive

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Shares in Novo Nordisk (NOVOb.CO) bounce back 4 percent, after heavy falls on Tuesday, as bullish analysts predict its diabetes drug Victoza should still win U.S. approval, despite tough questions from Food and Drug Administration staff.

Brian Bourdot of Deutsche Bank reiterates his "buy", arguing an FDA panel on April 2 is likely to recommend the drug, given its unequivocal efficacy and the fact Novo has sufficient data to assuage immediate concerns over cardiovascular risks.

FDA staff, in briefing documents prepared ahead of the meeting, had queried the scope of the cardiovascular data and also highlighted a possible thyroid cancer link. For more double click on [ID:nN31404834]

Reuters Messaging rm://ben.hirschler.reuters.com@reuters.net

09:32GMT 01April2009-Plethora Solutions up on license payout

------------------------------------------------------------ Shares in Plethora Solutions (PLE.L) climb 3.1 percent after confirming an amendment to its license for PSD502 -- a premature ejaculation drug -- with Sciele Pharma Inc which will boost its income in the short term.