STOCKS NEWS UK-Moneysupermarket gains after update

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11:37GMT 6Jul2009-Moneysupermarket gains after update

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Shares in Moneysupermarket.com (MONY.L) advance 3.7 percent following the release of an in-line trading update from the price comparison internet site which leads Noble to repeat its "positive" stance on the group.

Moneysupermarket says "The financial performance of the group for the first half of 2009 has remained broadly consistent with the position outlined in the IMS released on 16 April and results for the period are expected to be in line with the board's previous expectations."

Noble says whilst there is little detail in the trading statement, it clearly states that trading has been in line with management expectations which is encouraging, given the consistent downbeat statements the firm has been issuing for the past 12 months.

The broker points out that earnings estimates for Moneysupermarket have been downgraded by around 50 percent in the last 12 months.

Noble says whilst the motor insurance market remains very competitive, Moneysupermarket's strong brand and 73 million pounds of cash should help it emerge as a stronger company from the economic downturn.

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Reuters Messaging rm://jon.hopkins.reuters.com@reuters.net

11:02GMT 6Jul2009-UK small caps down 0.5 pct at midday

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