STOCKS NEWS UK SMALL-Daniel Stewart positive on gambling stocks
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07:45GMT 17Apr2009-Gambling sector boosted by upbeat Daniel Stewart note
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Gambling sector stocks are boosted by a positive research note from broker Daniel Stewart which identifies Playtech (PTEC.L), William Hill (WMH.L), and Sportingbet (SBT.L) as its three top buys in the sector.
Daniel Stewart reiterates a 'buy' recommendation and 64 pence price target on Sportingbet, which rises 5.7 percent to 60.25 pence. The broker highlights its strength in Spain, Greece, and Australia and a number of Eastern European territories, and says it will play an active role in industry consolidation.
Daniel Stewart keeps its 'buy' stance and 543 pence target price on gaming software provider Playtech, which gains 0.6 percent to 457.75 pence. It says Playtech has solid expected European upside and significant potential in Asia.
The broker also rates William Hill a buy, with a 225 pence price target, saying its discount to the sector following a rights issue has been overdone. William Hill shares are up 0.1 percent to 188 pence.
Reuters messaging rm://matthew.scuffham.reuters.com@reuters.net
07:31GMT 17Apr2009-UK small caps gain 0.3 percent early
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The FTSE Small Cap index .FTSC gains 0.3 percent in early trade, while the blue chips .FTSE add 0.1 percent, and the midcaps .FTMC are 0.6 percent higher.
Construction firm Costain (COSG.L) jumps 10 percent after saying its joint venture with Nordic building firm Skanska (SKAb.ST) was selected as a contractor for London's most ambitious transport project Crossrail's civil framework deal with a potential value of more than 250 million pounds.
Specialist materials group Low & Bonar (LWB.L) drops over 4 percent as it says it continued to experience falls in year-on-year sales volume from Dec. 1 to date amid strained global economic conditions.
For more on Costain double click on [ID:nBNG416115]; for more on Low & Bonar double click on [ID:nBNG447425]
Reuters Messaging rm://tricia.wright.reuters.com@reuters.net
