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STOCKS NEWS EUROPE-McBride rises, Goldman upgrades to 'neutral

Fri Jul 3, 2009 4:28am EDT

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Shares in McBride (MCB.L) rise 5.3 percent after Europe's biggest maker of retailer own-brand household products is upgraded to "neutral" from "sell" by Goldman Sachs and removed from its pan-European sell list following last week's upbeat pre-close trading statement. [ID:nLO714045]

"We believe McBride has traded well through the current downturn, benefiting from the consumer trading down to private label household and personal care products. At the same time, the company has demonstrated its ability to pass on what was significant cost inflation through pricing and through reducing operating costs," says Goldman analyst William Hutchings.

For more, click on [ID:nLO598629] and [ID:nLO714045]

Reuters messaging rm://rhysl.jones.reuters.com@reuters.net


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