STOCKS NEWS UK SMALL-Silence Thera falls on lack of deal news
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11:23GMT 01Apr2009-Silence Thera falls on lack of deal news
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Shares in gene company Silence Therapeutics (SLN.L) fall 14 percent as investors were disappointed that there were no new announcements on licence deal progress alongside the full year results.
"I think it's just a little bit of disappointment that there's not more of an insight into what deals could be achieved," says Matrix analyst Navid Malik.
Nomura, which has a 'buy' on the stock, says: "We had expected more AstraZeneca-like deals to be completed in 2008 and continue to expect them in 2009."
To see Silence Therapeutics' statement please click on [ID:nPRrV473Da]
Reuters messaging rm://ben.deighton.thomsonreuters.com@reuters.net
10:21GMT 01April2009-Kalahari up; Polo increases Extract interest
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Shares in Kalahari Minerals (KAH.L) gain nearly 11 percent as Polo Resources continues its stake building in Extract Resources (EXT.AX) (EXT.TO), in which Kalahari Minerals has a 38.85 percent stake.
Polo Resources has now taken its interest in Extract to 6.8 percent after it announced on Tuesday that it had raised its holding to 5.7 percent.
"Given the buying by Rio Tinto (RIO.L) and Polo on market, we see accelerated value add for shareholders," says Nick Mellor, Ambrian analyst.
Rio raised its stake in Kalahari Minerals to 15.8 percent on Feb. 17.
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09:45GMT 01April2009-Sportech up after submits VAT claim
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Shares in betting firm Sportech (ROD.L) gain more than 3 percent after the company says it has submitted a claim to Her Majesty's Revenue & Customs to recover "in excess of 40 million pounds" in overpaid VAT for its Spot the Ball game offered between 1979 and 1996.
"We caution a successful outcome is not guaranteed and the process is likely to drag on for a number of years, but see the claim as yet another positive catalyst which is not, in any way, reflected in the current 5 times P/E, 5 times EV/EBITDA, 15 percent FCF yield valuation," Investec Securities says in a note.
The broker highlights that the amount could increase to over 100 million pounds including interest.
Investec has a "buy" rating on the stock.
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09:32GMT 01April2009-Plethora Solutions up on license payout
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Shares in Plethora Solutions (PLE.L) climb 3.1 percent after confirming an amendment to its license for PSD502 -- a premature ejaculation drug -- with Sciele Pharma Inc which will boost its income in the short term.
FinnCap says in a note: "This is a bittersweet deal: its conclusion indicates that the FDA meeting had a positive outcome as this was a condition of the amendment, and Sciele will now assume all U.S. development costs (thereby cutting cash burn), however Plethora has had to sell the U.S. rights to PSD502 to generate cash."
For more double click on [ID:nRnsA8780P]
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09:10GMT 01Apr2009-Regal Petroleum up; funding fears over played
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Shares in Regal Petroleum (RPT.L) climb 7.7 percent as broker Mirabaud says market fears over group funding and the risks associated with its Ukranian operations have been over played, leading the broker to repeat its "buy" rating.
Mirabaud says in a note that the chances of a funding shortfall leading to a cutback in costs and drilling activity are less than the current market valuation implies.
Regal has cash of $88 million, which is more than enough to complete the two wells underway in Ukraine, the broker says.
Mirabaud adds that worries over challenging political and economic environment in Ukraine, which is home to the company's core asset base, should ease with the Former Soviet state showing some signs of stabilisation.
Regal's shares hit an all-time low in early March of 25.5 pence.
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08:56GMT 01April2009-GW Pharma up on milestone payment
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GW Pharmaceuticals' (GWP.L) shares rise as much as 8 percent after the company says it will receive 8 million pounds from its licensing partner Almirall (ALM.MC) for its cannabis-based medicine Sativex in the next few weeks.
KBC Peel Hunt, which has a "buy" rating on the stock, says the milestone demonstrated Almirall confidence in the drug, which treats spasticity in patients that have failed all previous therapies."
"It is re-assuring to know that Spanish pharmaceutical company Almirall finds the recent Phase III data worthy of an 8 million pounds cash milestone and ready for regulatory submission in Spain," analyst Paul Cuddon of KBC says.
To see GW Pharma's statement click on [ID:nRnsA8710P]
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08:46GMT 01April2009-Speedy Hire up on revised banking facility
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Shares in Speedy Hire Plc (SDY.L) rise 28 percent to 161 pence after the biggest tool-hire company in Britain says it has renegotiated its 325 million pound loan facility on revised terms with all its lenders.
"Financing has been a major concern for Speedy Hire and it is thus very positive that these have been laid to rest for the present," Altium's Nick Spoliar says in a note.
Brokerage KBC Peel Hunt, which has a "buy" rating on the stock, notes the outlook is still challenging for Speedy Hire but the company is well positioned.
Analyst Andrew Nussey says: "Tight operational management and exposure to the 2012 Olympic Games should ensure that Speedy emerges as a relative winner from these more challenging markets."
For more, double click on [ID:nBNG427171]
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