CORRECTED (OFFICIAL)-STOCKS NEWS EUROPE-Just Retirement gains
(Changes name in second paragraph to Cinven fron CVC Partners, after brokerage corrects)
14:08GMT 10Nov2008-Just Retirement extends gains on bid hopes
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Shares in Just Retirement Plc (JR.L) extend their earlier rise to trade 50.5 percent higher at 73 pence -- the best performing stock in the market -- after the company confirms it has received preliminary expressions of interest for the business. A report in The Sunday Times said 52 percent shareholder Langholm Capital LLP has put the business up for sale at a suggested price of 300 million pounds, or 102 pence a share.
Stockbrokers Panmure Gordon said potential acquirers include private equity firm Cinven and some of the larger UK life assurers such as Legal & General Plc (LGEN.L), Aviva Plc (AV.L) and Prudential (PRU.L) Plc.
"Just Retirement is now in play and we believe it will be taken out at around 100 pence a share," the broker said. It has raised its target price for the stock from 75 pence to 100 pence and revised its investment recommendation from "hold" to "buy".
For more click on [ID:nBNG107768]; company statement [ID:nRnsJ7806H]
malcolm.locke@thomsonreuters.com; +44 207 542 0964
13:38GMT 10Nov2008-Sinclair falls on financing concerns
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Shares in skin specialist Sinclair (SPH.L) fall 12 percent over market concerns that it will have to raise more money, and that it may be vulnerable to a consumer downturn.
"There are general concerns in the marketplace that they are at some point going to have to do a little bit of refinancing especially in H1 2010," said an analyst. "You could (also) argue exactly how exposed to a consumer downturn some of the products are, especially there are quite a lot of co-pay elements in there and dermo cosmetics."
Reuters messaging rm://ben.deighton.reuters.com@reuters.net
12:47GMT 10Nov2008-JKX Oil & Gas higher on Ukrainian gas news Continued...


