STOCKS NEWS EUROPE-Tangent Comms up; Collins Stewart "buy"

Shares in Tangent Communications (TATNG.L) rise 2.9 percent as Collins Stewart upgrades the direct marketing group to "buy" from "hold", after the direct marketing company announces full-year results.

Tangent, which had an offer for digital marketing group TMN TMN.L rebuffed in April, reports a 10 percent fall in pretax profit to 15.6 million pounds but says the new year has got off to a good start and the current overall performance is above budget.

"Management's acquisition strategy is opportunistic and the net cash position is a useful asset in an environment where quality businesses may be up for grabs at attractive multiples," Collins Stewart says.

Tangent held its dividend at 0.2 pence per share. For more double click on [ID:nRn1B1643T]

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