STOCKS NEWS UK SMALL-Marston's higher as dividend maintained
STOCKS NEWS Reuters Results diary
Europe [STXNEWS/EU] Real-time Equity News [E] [GB/EQUITY]
UK [STXNEWS/UK] Stocks on the move [HOT-RTRS]
UK smallcaps [STX/UKSC]
09:50GMT 22May2009-Marston's higher as dividend maintained
----------------------------------------------------------
Shares in Marston's (MARS.L) rise as much as 7 percent as the pubs firm says it is maintaining its interim dividend, which many analysts feared would be cut, and is on track to meet expectations for the full-year.
"The maintaining of the interim dividend is a big positive," says Numis analyst Douglas Jack.
"With strong H2 cash-flow likely to reduce net debt this year, we would not be surprised if the final dividend is also held. Given this and recent weakness in the shares, we are upgrading our stance from 'hold' to 'add'," he says.
For more please click on [ID:nLM112225]
Reuters messaging rm://matthew.scuffham.reuters.com@reuters.net
09:10GMT 22May2009-Cranswick up; Numis says 'add'
-------------------------------------------------
Shares in British pork supplier Cranswick (CWK.L) rises 1.5 percent, with Numis saying the recent portfolio reshaping and another strong set of results has prompted it to repeat its "add" rating and remain positive on the company.
"We think that price increases will offset a small negative impact from a stronger euro and higher pig prices. Higher sales from bacon and sausages will improve the mix," says the broker, which forecasts EPS growth of 12 percent in 2010.
On May 18, Cranswick posted a 9 percent rise in pretax profit, raised its dividend by 10 percent to 14.7 pence and said it started the new financial year in line with expectations.[ID:nBNG479628]
Reuters Messaging rm://david.brett.reuters.com@reuters.net
08:47GMT 22May2009-Chrysalis up on H1 numbers
---------------------------------------------
Shares in Chrysalis (CHS.L) gain 2.3 percent after the British music publisher reports narrowing losses in the first-half, promting Investec Securities to repeat its "buy" rating as the numbers beat its forecast.
The company, which owns songs by David Bowie, Blondie and Gnarls Barkley, says its pretax loss for the six months ended March 31 was 2.6 million pounds, compared with a 13.1 million pounds loss a year ago which was only for seven months due to a change in financial year.
Revenue was 31.2 million pounds, compared with the 28.5 million pounds for the seven-month period last year.
Investec says: "Strategically, bulking up the catalogue with sensible high quality and established artists ahead of any possible crystallisation/exit could look sensible given potential global economies of scale and funding availability."
For more double click on [ID:nBNG294910]
Reuters Messaging rm://david.brett.reuters.com@reuters.net
08:15GMT 22May2009-ATH Resources down as output hit
---------------------------------------------------
Shares in ATH Resources (ATH.L) slide 18.8 percent as the British miner says the output from its mine at Muir Dean in Fife has been hit following "a recent unexpected and substantial inflow of water", prompting Evolution Securities to cut its rating to "hold" from "buy".
Britain's third biggest coal producer also says, as a result it intends to defer its interim dividend, which was anticipated to be paid in July 2009.
Evolution says: "Earnings will be impacted by water delays ... we expect that output in the year to September will be about 100,000t less than previously forecast."
"This is severely disappointing for its income fund investors," the broker adds.
For more double click on [ID:nRnsV6889S]
Reuters Messaging rm://david.brett.reuters.com@reuters.net 07:50GMT 22May2009-Dairy Crest falls as broker downgrades
--------------------------------------------------------- Shares in Dairy Crest (DCG.L) fall 2.1 percent in early trade, underperforming the FTSE 250 .FTMC, which gains 0.2 percent, as Credit Suisse downgrades the maker of Cathedral City cheese and Clover spreads to "underpeform" from "neutral".
Credit Suisse forecasts that Dairy Crest's profits for the year may be broadly flat, and says "the business has shown over the years that in underlying terms profits have consistently gone backwards", with only acquisitions fuelling growth.
"We see little attraction in Dairy Crest shares outside of dividend income," says the broker.
Reuters Messaging rm://david.brett.reuters.com@reuters.net 07:28GMT 22May2009-FTSE Small caps flat at the open
---------------------------------------------------
The FTSE Small cap index .FTSC is flat in opening trade, underperforming the wider UK market as the FTSE 100 .FTSE rises 0.2 percent and the FTSE 250 .FTMC gains 0.5 percent.
Industrial property landlord Brixton BXTN.L jumps 14 percent after saying it was in takeover talks with a small number of potential suitors, fuelling investor hopes a white-knight may swoop to soothe its escalating debt problems.[ID:nLM131374]
Findel FDL. sheds 31.5 percent as the company reports that the underlying performance for the full year to April 3, was at the lower end of expectations. The home education and office supplies company also says it is considering an equity issue to bolster its balance sheet.[ID:nRnsV6899S]
Reuters Messaging rm://david.brett.reuters.com@reuters.net
