STOCKS NEWS UK SMALL-Renishaw up; sees lower H2 op loss

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08:24GMT 15May2009-Renishaw up; sees lower H2 operating loss

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Shares in Renishaw (RSW.L) gain 5 percent as the precision engineer says cost-cutting efforts mean second-half operating losses will be lower than the previously expected 10 million pounds.

KBC Peel Hunt upgrades the company to "Hold" from "Sell" and says it expects to increase 2009 forecasts.

"While we do not view Renishaw as being 'out of the woods' it has made good inroads on cost cutting and net cash of 14 million pounds reduces the risk of the final dividend being passed," write the analysts in a note.

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07:55GMT 15May2009-Computacenter up on positive H1 view

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Shares in Computacenter (CCC.L) rise 7.1 percent as the IT firm says profit in the first four months was well ahead year-on-year and it sees similar progress for the first half.

Analyst George O'Connor at Panmure Gordon, who has a "buy" rating on the stock, says the company is better configured, selling more higher margin products and services, and he raises his 2009 earnings per share forecast to 21.3 pence from 20.2 pence.