STOCKS NEWS UK-Desire Petroleum, Rockhopper up on IC tip

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11:31GMT 06Nov2009-Desire Petroleum, Rockhopper up on IC tip

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Shares in Falklands oil and gas explorer Desire Petroleum (DES.L) and its partner Rockhopper (RKH.L) rise by 4.3 and 5.2 percent respectively after comment in the Investors Chronicle sparks investor support for oil companies with assets in the region.

"There's a mention in the Investors Chronicle and Rockhopper, Desire Petroleum and Borders & Southern Petroleum (BSTH.L) (up 2.4 pct) are all getting pulled up as a sector move," a trader says.

"Access to the area has always been a problem in the past and it looks like they (Desire and its partners Rockhopper) managed to get a rig out there which opens it up a lot," he says.

For more please see [ID:nWLA6509] [ID:nLL050430]

Reuters messaging rm://sharon.lindores.reuters.com@reuters.net

11:18GMT 06Nov2009-Hutchison Chi-Med up on drug data

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Shares in Hutchison China Meditech (HCM.L) rise 5 percent, extending the previous session's gains, after Panmure Gordon raises its target price to 200 pence from 187 pence and repeats its "buy" rating after positive drug data.

Panmure Gordon says phase IIb data, announced on Thursday, achieved by the China-focused firm's drug candidate HMPL-004 in the treatment of Ulcerative Colitis is "overwhelmingly positive".