STOCKS NEWS EUROPE-TF1 falls as UBS cuts rating to "neutral"

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08:41GMT 08Jan2009-TF1 stock falls as UBS cuts rating to "neutral"

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Shares in French broadcaster TF1 (TFFP.PA) drop 2.2 percent after UBS cuts its rating on the stock to "neutral" from "buy".

"Near term visibility is very limited and we believe advertising momentum could disappoint in the first quarter given volatility/confusion around the introduction of regulatory changes," UBS analysts write in a note.

"TF1 outperformed the market by 35 percent in the second half of 2008 and was supported by regulatory newsflow which could result in significant longer term benefits. However, there is a risk that the market now focuses on near term macro risks and that regulatory benefits may disappoint until the underlying advertising market stabilises."

Reuters Messaging rm://blaise.robinson.reuters.com@reuters.net

08:35GMT 08Jan2009-Cintra falls as Texas road plan pulled

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Shares in Cintra (CCIT.MC) fall 1.4 percent as traders digested news a $180 billion infrastructure plan in Texas, of which the Spanish motorway concessionary had been tapped to be a significant beneficiary, has been scrapped. "This is bad news for Cintra," Banesto Bolsa analysts say, noting the company was planning to invest $6 billion in 14 projects as part of the mega road project until 2010.

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Reuters Messaging rm://tracy.rucinski.reuters.com@reuters.net

08:14GMT 08Jan2009-European shares fall early on renewed economic fears

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