STOCKS NEWS EUROPE-Talvivaara weak; Cazenove downgrades

Shares in Talvivaara Mining (TALV.L) shed 4.4 percent as Cazenove cuts its rating for the Finnish nickel and zinc producer to "in-line" from "outperform".

Cazenove says its downgrade comes in the light of the substantial move in Talvivaara's share price in the year-to-date, which has left the stock trading on a 7 percent premium to its reduced net present value (NPV) estimate.

The broker says that, following a site trip last week for the official opening of the group's mine, and after revising its numbers following Talvivaara's recent placing, it has reduced its NPV estimate for the firm by 9 percent to 374 pence.

Reuters Messaging rm://jon.hopkins.reuters.com@reuters.net