STOCKS NEWS EUROPE-Bovis Homes down; Panmure expects write-downs

STOCKS NEWS Reuters Results diary

Stocks on the move [HOT-RTRS] Real-time Equity News [E] [WEU/EQUITY]

11:14GMT 06Mar2009-Bovis Homes down; Panmure expects write-downs

----------------------------------------------------------------

Shares in Bovis Homes (BVS.L) 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

-------------------------------------------------------------

Shares in German biotech company STRATEC Biomedical (SBSG.DE) 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 [ID:nEQvvwegqi]

Reuters Messaging rm://christoph.steitz.reuters.com@reuters.net

10:51GMT 06March2009-SThree falls; demand slows; Panmure cuts ests