STOCKS NEWS EUROPE-Dana Petroleum down; profit taking

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09:17GMT 30Mar2009-Dana Petroleum down; profit taking on results

---------------------------------------------------------------- Shares in Dana Petroleum (DNX.L) slide as much as 7.5 percent as traders lock in profits after the oil and gas explorer posts a 34 percent rise in pretax profit and announces a significant find at its Tanger-Larache licence.

Dana, which posts a full-year pretax profit of 191.4 million pounds, has seen its shares climb almost 31 percent since the start of February.

Evolution Securities says in a note: "The current share price suggests that the market is willing to pay for core assets and developments at $70/bbl and no more."

The broker says Dana had an excellent year in 2008, delivering a 29 percent growth in production, with cash generated from operations up 75 percent to 345 million pounds, while year-end cash was 43 million pounds and repaying 80 million pounds of bank debts.

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08:35GMT 30March2009-Cranswick up; sees FY results ahead of views

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Shares in premium pork supplier Cranswick (CWK.L) gain more than 4 percent after the company says its full-year results are likely to be ahead of market expectations and that total sales in the final quarter jumped 11 percent from a year ago.

Brewin Dolphin upgrades its recommendation to "buy" from "add".

"There appears to be increased demand for UK pork and a trend towards buying ingredients rather than ready-made meals. Cranswick is well positioned for this and has some good levels of new business coming on stream aiding growth in 2009/2010," the broker says in a note.

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