STOCKS NEWS EUROPE-Intercell up on takeover hopes after Crucell
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08:49GMT 08Jan2009-Austria's Intercell soars on Crucell takeover news
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Shares in Austrian vaccine maker Intercell (ICEL.VI) rise as much as 9 percent to a two-month high of 24.60 euros after Dutch peer Crucell (CRCL.AS) says late on Wednesday it is in talks with U.S. drug maker Wyeth WYE.N about a takeover. Crucell and Intercell are the main remaining independent vaccine makers in Europe, so the move on Crucell reignites takeover hopes for Intercell, analysts say.
"Industry news always puts the sector into focus, particularly possible takeover candidates," one analyst says. For more on Crucell/Wyeth, double click on [ID:nN07501131]
Reuters Messaging rm://eva.komarek.reuters.com@reuters.net
08:47GMT 08Jan2008-Sainsbury hands back gains, no profit upgrade
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Shares in J. Sainsbury (SBRY.L) dip 1.1 percent to 319.25 pence, handing back early gains made after Britain's third-biggest grocer posted third-quarter underlying sales at the top end of forecasts. Analysts blame profit taking after a rise of as much as 20 percent over the past month, as well as disappointment the group is not guiding to higher profits and caution about the future.
"The food retail market is becoming more competitive and the level of promotional activity is increasing; consumers are continuing to trade down, a trend that is likely to accelerate in Sainsbury's southern heartlands," says Seymour Pierce analyst Freddie George, keeping a "hold" rating on the shares.
"We are also concerned that the food retailers are likely to underperform in any sector rotation."
For more information please click on [nL7558035] [ID:nWLA4586]
Reuters Messaging: rm://mark.potter.reuters.com@reuters.net
