STOCKS NEWS UK SMALL-Allergy Therapeutics soars on debt talk
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11:19GMT 13May2009--Allergy Therapeutics soars on debt talk
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Shares in hayfever specialist Allergy Therapeutics (AGY.L) soar 39 percent on talk that the company is poised to announce a renegotiation of its debt.
"There might be a bit of speculation on the part of retail investors, and I think it's speculation about the refinancing of the debt agreement, the timing fits," said one analyst.
In its half year report at the end of March the company said that it was confident the debt discussions would be resolved "swiftly". [ID:nRnse7591P]
Reuters messaging rm://ben.deighton.thomsonreuters.com@reuters.net
11:15GMT 13May2009-VT Group up on results, order visibility
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Shares in VT Group (VTG.L) rise 7 percent after the British defence and support services company beats forecasts with a 41 percent rise in underlying full-year profit and says forward orders are strong.
The company is confident it will continue to win orders from the defence departments of both Britain and the United States despite current budget constraints and expects to see despite current budget constraints and expects to see outsourcing expand.
"The order book is up 12 percent to 4.5 billion pounds and the company essentially already knows its revenue line for 2010 and 2011 and this underpins the visibility and flexibility," says Evolution analyst Harry Philips, who retains a "buy" recommendation on the stock.
For more, click on [ID:nLD595234]
Reuters messaging rm://rhysl.jones.reuters.com@reuters.net
10:37GMT Care UK up ahead of results
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Shares in Care UK (CUK.L), an independent provider of social care and health services, gain 1.7 percent, with Brewin Dolphin repeating its "buy" recommendation ahead of the company's interim results, scheduled for release on May 20.
"Overall, we think the interims will provide investors with some comfort over the health of the business and the speed and direction of travel," Brewin Dolphin says in a note.
The broker points out that the key uncertainty at this stage is the renewals process for the two Wave 1 Independent Sector Treatment Centres (ISTCs), that are coming to the end of their initial five-year terms.
"While (this uncertainty) may persist for a little while yet, we feel a successful resolution will act as a catalyst for the shares," says the broker.
Reuters Messaging rm://tricia.wright.reuters.com@reuters.net
10:35GMT-Greggs higher after update
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Shares in British baker Greggs (GRG.L) gain 1.3 percent, outperforming the FTSE 250 index .FTMC, off 1.4 percent, after the company issues a trading update, with Altium Securities saying it expects to increase its forecasts and target price.
Greggs says like-for-like sales growth picked up in March and April boosted by hot cross bun sales over Easter amid early signs of increased confidence along Britain's high street. [ID:nLC814000]
Altium Securities points out in a note that margin progress has been encouraging, and energy costs and some ingredient costs are moving in Greggs' favour.
Reuters Messaging rm://tricia.wright.reuters.com@reuters.net
09:40GMT 13May2009-Lipoxen up after malaria funding
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Shares in vaccine delivery specialist Lipoxen (LIPX.L) rise 20 percent after the company announces it has received funding for its technology to be used in the development of a malaria vaccine as part of a project aided by scientists from the U.S. National Institute of Allergy and Infectious Diseases.
"It's a validation of Lipoxen's vaccine delivery technology," says analyst Shawn Manning at Singer Capital technology," says analyst Shawn Manning at Singer Capital Markets.
To see Lipoxen's statement please click on [ID:nRnsM1447S]
Reuters messaging rm://ben.deighton.thomsonreuters.com@reuters.net
09:25GMT 13May2009-H&T jumps after pawnbroker strikes gold
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Shares in leading UK pawnbroker H&T Group (HTGR.L) jump over 11 percent after the company says its year-to-date trading is significantly ahead of its expectations on the sustained strength in the gold price.
Companies like H&T and Albemarle & Bond (ALBH.L) have been able to boost their profits by selling gold jewellery unredeemed by their customers during the recession.
FinnCap repeats its "buy" recommendation on H&T, pointing out in a note that given the continuing firm gold price, the positive update perhaps should hold no surprises, but is nonetheless welcome as the shares have drifted off in the past fortnight.
"H&T is unhedged as far as the gold price is concerned (in contrast to A&B) and therefore the benefit continues to flow through to the bottom line," says the broker.
For more double click on [ID:nBNG504654]
Reuters Messaging rm://tricia.wright.reuters.com@reuters.net
09:08GMT 13May2009-Futura softens on condom delay
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Shares in sexual health specialist Futura Medical (FUM.L) drop over 16 percent after the company announces a delay to the launch of its erection-enhancing condom due to a manufacturing change at development partner SSL (SSL.L).
"Retail investors are behind the selling volume today, not institutions. This has weighed on Futura's share price, but this feels overdone and could turn after the 10am analyst meeting," says Ian Wainwright, Managing Director Life Sciences Specialist Sales at Canaccord Adams.
To see the full article, please click on [ID:nLD628241]
Reuters messaging rm://ben.deighton.thomsonreuters.com@reuters.net
09:07GMT 13May2009-Playtech down; Evolution says "sell"
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Shares in Playtech (PTEC.L) are 2.1 percent lower, as Evolution Securities repeats its sell rating following the company's update this morning, saying it is "something of a surprise" that Playtech's underlying growth has declined.
"Playtech has now reported underlying revenue down 1 percent first-quarter 2009 vs fourth-quarter 2008. This despite signing 15 new licensees in 2008," the broker says.
For more double click on [ID:nRnsM1545S]
Reuters Messaging rm://david.brett.reuters.com@reuters.net
08:40 GMT 13May2008-Pub groups fall on beer profit fears
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Shares in pub group Enterprise Inns (ETI.L) fall 16 percent, while Punch Taverns (PUB.L) is down 16 percent and Marston's (MARS.L) is down 5 percent after the Business and Enterprise Select Committee in the Commons says the tenant tie-in system should be referred to the Competition Commission.
The tie-in system prevents pub tenants from taking beer supplies from other companies.
Panmure Gordon estimates that 25 to 30 percent of operating profit at pub companies could be threatened if their return was limited to an open market rent.
"While it is too early to know the outcome, the risks are clearly on the downside. Any limitation on the pubcos' freedom to manoeuvre is likely to damage profitability in our view," the broker says, reiterating its 'sell' on the three companies.
For more double click on [ID:nLC376518].
Reuters Messaging rm://rosalba.obrien.thomsonreuters.com@reuters.net
08:15GMT 13May2009-TT Electronics falls on trading update
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Shares in TT Electronics (TTG.L) shed 4.2 percent after the supplier of electronic components says conditions were tough in the first two months of 2009, and are expected to remain that way for the rest of the year.
KBC Peel Hunt says in a note: "We are currently forecasting a 28 percent decline in revenue at constant currency for TT Electronics in 2009."
The company, which retains its full-year trading guidance, says further management action has been taken to adjust its cost base, including a reduction in headcount in Germany of 225, effective April 1.
"With a significant auto end market exposure and further execution needed on the strategic plan the short term is not without risk for TT Electronics," says the broker.
For more double click on [ID:nBNG490528]
Reuters Messaging rm://david.brett.reuters.com@reuters.net
