STOCKS NEWS EUROPE-Wolseley down ahead of trading update

STOCKS NEWS Reuters Results diary

Stocks on the move [HOT-RTRS] Real-time Equity News [E] [WEU/EQUITY]

12:52GMT 17Nov2008-Wolseley falls ahead of trading update

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Shares in Wolseley (WOS.L) drop 7.6 percent ahead of the firm's annual meeting and a trading update on Tuesday.

Traders say that poor performance in the UK housing sector is contributing to worries about the British construction firm's earnings outlook.

Home construction companies are trading lower, with UK property website Rightmove reporting a 2.9 percent month-on-month decline in asking prices for homes in November.

Taylor Wimpey (TW.L) is, however, up 7.6 percent on a newspaper report on Sunday that U.S. private equity groups may bid for the British housebuilder. A spokesman for Taylor Wimpey declined to comment. [ID:nLG340628]

Reuters messaging rm://nicholas.vinocur.reuters@reuters.net

12:43GMT 17Nov2008-UTV up as Organo further raises stake

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Shares in Northern Irish broadcaster UTV Media Plc (UTV.L) (UTV.I) up 13.9 percent, extending recent gains on further stakebuilding by second-largest investor Organo Investments.

Organo, headed by Racing Post owners Peter Crawley and Neill Hughes, bought 1.8 million shares on Friday, taking its stake to 11.4 percent.

The purchase narrows the gap with UTV's leading shareholder, Irish investment holding company TVC Holdings Plc (TVCH.I), which raised its stake to 15 percent last week.

For more, click on [UTV.L]