STOCKS NEWS UK SMALL-Asterand up on bullish trading statement
STOCKS NEWS Reuters Results diary
Europe [STXNEWS/EU] Real-time Equity News [E] [GB/EQUITY]
UK [STXNEWS/UK] Stocks on the move [HOT-RTRS]
UK smallcaps [STX/UKSC]
10:45GMT 14Nov2008-Asterand up on bullish trading statement
----------------------------------------------------------------------------
Shares in Asterand Plc (ATD.L) rise 6.8 percent to 11.75 pence after the provider of human tissue-based services to pharmaceutical companies says third quarter sales are growing strongly and that it is on track for significant revenue growth in 2008 and is improving operational efficiency.
"Management has indicated that the medium term growth rate for their industry could be some 25 percent compound, but they expected Asterand to grow faster than the overall market ... Although next year will not benefit from a major consultancy contract, which will be completed this year, revenues could still grow," says Charles Stanley analyst Robert Corden.
To see Asterand's statement please click on [ID:nRnsK8615H]
Reuters messaging rm://rhysl.jones.reuters.com@reuters.net
10:33GMT 14Nov2008-RAB Capital up on fund closures
-------------------------------------------------- Shares in RAB Capital (RAB.L) rise 19.4 percent as bargain hunters tuck in on the back of a rallying market as the hedge fund manager says it plans to streamline the number of funds it offers, but analysts remain sceptical.
Evolution, which has withdrawn its rating and target price, says cash and investments equate to a price of 21 pence per share, well in excess of the current share price.
The broker says in a note: "The discount reflects both distrust over which funds the money is invested in (and what its realisable value might be) and that the cash is available for reinvestment in existing funds range and new fund opportunities as appropriate."
Evolution Securities analyst Jason Streets writes: "RAB's immediate prospects are grim." Continued...
