• Most Popular
  • Most Shared

STOCKS NEWS EUROPE-BBA Aviation up after H1 results

Thu Aug 6, 2009 6:58am EDT

Stocks

   

Shares in BBA Aviation (BBA.L) rise 2 percent as the British aviation services company reports its first half results, which prompts Panmure Gordon to raise its target price to 155 pence from 100 pence and repeat its "hold" rating.

"BBA is well positioned for a low magnitude recovery in North America. Its balance sheet is stretched but is over the worst," says Panmure Gordon in a note.

BBA posts a 12 percent fall in adjusted pretax profit to 38.4 million pounds, for the six months to June 30, but maintains its 2.3 pence interim dividend and says it will undertake further cost cutting to boost annual savings.

Panmure Gordon says it is raising its target price "to acknowledge the recovery path".

For more double click on [ID:nBNG386421]

Reuters Messaging rm://david.brettreuters.com@reuters.net


More from Reuters

Photo

Treasury to seek easing of bailout fund rules

WASHINGTON (Reuters) - The Treasury Department will ask Congress to ease restrictions on the use of bank bailout funds so it can use some of the money to encourage more lending to small businesses, a department official said on Wednesday.

» More Top News
Malaysians participate in computer attack and defence hacking competition during The 3rd Annual Hack-In-The-Box Security Conference 2004 in Kuala Lumpur on October 6, 2004. REUTERS/Bazuki Muhammad
Commentary:

Year of the breach

Data security breaches are nasty business and should be avoided at all costs, writes Kevin Prince, a chief technology officer at Perimeter e-Security. Here's a look at the biggest breaches and blunders of 2009.  Commentary 

Technology
Cannabis sativa plant is seen in Buenos Aires, August 21, 2009. REUTERS/Enrique Marcarian
Commentary:

Obama, drugs, common sense

American attitudes towards drug prohibition – and above all, punitive laws on marijuana – are changing too fast for policymakers and legislators to ignore, writes columnist Bernd Debusmann.  Commentary 

U.S.