STOCKS NEWS UK SMALL-Mulberry up on better-than-expected FY view
STOCKS NEWS Reuters Results diary
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09:36GMT 05March2009-Mulberry up on better-than expected FY view
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Shares in Mulberry Group Plc (MUL.L) rise 16 percent to 80 pence after the British fashion retailer says it expects full-year results to beat market estimates, led by stronger-than-estimated trading in the UK.
Altium Securities says: "Mulberry enjoys the net cash position that will enable it to ride out the downturn and emerge ready to capitalise on the enormous potential to develop the brand internationally."
The brokerage maintans its "buy" rating on the stock with a price target of 100 pence.
For more, click on [ID:nBNG413147]
Reuters messaging rm://tresa.sherin@thomsonreuters.com
08:49GMT 05March2009-Psion up after results, Teathers upgrade
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Shares in Psion Plc (PON.L) rise 5.7 percent after the provider of mobile computing services reports in-line results, cost savings on track and higher than expected net cash, with Teathers raising its rating on the stock to 'hold' from 'reduce'.
Teathers says in a note: "Psion is now trading at marginally above its net cash value and significantly below net realisable assets."
"Trading will certainly be tough, but don't believe it is still a 'reduce' at this level," the broker adds.
For more click on [ID:nBNG412747]
Reuters messaging rm://srikanth.srinivasa.reuters.com@reuters.net ($1=.7058 Pound)
09:10GMT 05Mar2009-Cookson up ahead of figs; Numis says "buy"
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Shares in Cookson Group (CKSN.L) rise 1.7 percent, ahead of a trading update on Monday, with Evolution Securities saying investor confidence will be hardened following the company's successful rights issue, which should assuage any fears surrounding its debt covenants.
The broker says there should be few surprises in Monday's announcement and it is bullish over plans announced in the Chinese stimulus package, which includes building reserves of important materials, that could provide a boost for the British industrial materials firm.
Evolution also cites first-quarter figures from Joy Global (JOYG.O) on Wednesday saying, "the market outlook commentary is a good read and concludes that steel production will be down 5 percent to 10 percent against our core assumption of 10 percent".
The broker repeats its "buy" stance on Cookson.
Reuters Messaging rm://david.brett.reuters.com@reuters.net
09:00GMT 05Mar2009-ClearStream jumps on U.S. catheter approval
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Shares in medical device company Clearstream Techologies (CTNL.L) jump 10 percent after the company says it received approval from the FDA to market its ReKross catheters in the U.S.
The company says it is looking for partners to distribute the product in the U.S, the largest market for peripheral catheters.
"The company has had a number of important launches over the last 18 months and that is coming through to sales. This is another piece of good news that suggests that strong momentum will continue," says Chris Thomas, analyst at house broker Arden Partners.
"(But) to turn this good news into revenue we need a partner and a launch but this clearly an important step on that road," he says.
For more click on [ID:nL5298577]
Reuters messaging rm://harpreet.bhal.thomsonreuters.com@reuters.net
08:59GMT 05March2009-UK small caps flat early
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The FTSE Small Cap index .FTSC is flat in early deals, outperforming both blue chips .FTSE and midcaps .FTMC, which slip 1.1 percent and 0.7 percent respectively.
Premier Foods (PFD.L) soars over 19 percent, topping the FTSE Small Cap leaderboard, as the company confirms private equity firm Warburg Pincus has taken a 10.3 percent stake in the business as part of a 404 million pounds fundraising.
Galiform (GFRM.L), the owner of Howden Joinery, the supplier of kitchen units to small builders, drops nearly 4 percent after it reports a 7 percent fall in 2008 profit and says sales have continued to slide in 2009.
For more on Premier Foods double click on [ID:nL5598955]; for more on Galiform double click on [ID:nL4158014]
Reuters Messaging rm://tricia.wright.reuters.com@reuters.net
08:59GMT 05March2009-Falkland Islands Hld falls on loss warning
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Shares in Falkland Islands Holdings Plc (FKL.L) fall 9 percent to 260 pence after the diversified logistics group warns of a full-year pretax loss as a tougher commercial art market hits performance at its Momart art handling unit.
"Despite this setback, the shares offer value," says KBC Peel Hunt, while maintaining a "buy" rating on the stock.
Trading in the company's other operations remains in line with its expectations and underlying cash generation remains robust, the brokerage adds.
For Falkland's statement please click on [ID:nRnsE3444O]
Reuters messaging rm://balachander.surianarayanan.reuters.com@reuters.net
08:57GMT 05Mar2009-Biocompatibles jumps after results
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Shares in drug eluting device specialist Biocompatibles (BII.L) jump as much as 13 percent after the company reports full-year revenues rising 94 percent.
Analysts at Piper Jaffray said that their valuations suggested the stock was cheap "given the potential of Biocompatibles' pipeline and the company's strong financial base."
To see Biocompatibles' statement please click on [ID:nPRr4CC7Da]
For more please click on [nL5298632]
Reuters messaging rm://ben.deighton.thomsonreuters.com@reuters.net
08:40GMT 05Mar2009-Michael Page down on results, bleak outlook
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Shares in Michael Page International (MPI.L) fall as much as 8.7 percent after the British staffing group reports a 5 percent fall in 2008 profit as slowing economies and the credit crisis dampen demand for workers and says market conditions have deteriorated further in 2009.
The group says demand for permanent placements fell at an increasing rate in Britain, North America and Spain in 2008 and has recently begun to decline in most of the 28 countries in which the group operates.
"Current trading is predictably difficult, with net fee income down 30 percent and effectively breaking even at the operating level," says Arbuthnot analyst Xavier Gunner.
"The outlook highlights the lack of visibility ... Consensus estimates show profit before tax falling by around 50 percent for 2009."
For more, click on [ID:nL5884692]
Reuters messaging rm://rhysl.jones.reuters.com@reuters.net
08:39GMT 05March2009-Aggreko soars after results
----------------------------------------------- Shares in Aggreko (AGGK.L) jump almost 16 percent, topping the midcap .FTMC leaderboard, as the temporary power provider posts a 52.6 percent rise in full-year pretax profit, and says its performance in the coming year would be "well ahead" of market expectations.
Aggreko, which rents generators and other hardware to corporate clients, says pretax profit for the year ending December 2008 rises to 191.6 million pounds from 125.5 million pounds.
"With our pre-existing forecast currently at 195.1 million pounds, or 48.2 pence (per share), we expect to raise our forecasts by about 8 percent and we retain our "buy" recommendation," Altium Securities says in a note.
Broker Noble, meanwhile, says it is likely to upgrade its 2009 pretax profit forecast by at least 9 percent, and its 2010 pretax profit forecasts by as much as 20 percent.
For more double click on [ID:nL0364819]
Reuters Messaging rm://tricia.wright.reuters.com@reuters.net
