STOCKS NEWS UK SMALL-Plethora rises on trial result
STOCKS NEWS Reuters Results diary
Europe [STXNEWS/EU] Real-time Equity News [E] [GB/EQUITY]
UK [STXNEWS/UK] Stocks on the move [HOT-RTRS]
UK smallcaps [STX/UKSC]
09:15GMT 07Nov2008-Plethora rises on trial result
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Shares in urology specialist Plethora Solutions (PLE.L) rise 55 percent to 24 pence following a positive Phase III result for its premature ejaculation drug.
"The timing wasn't expected although I would say that a positive result was expected," says Edison analyst Jacob Plieth. "There was a huge sell off last week so the stock plummeted so it's kind of come back to where it was."
For more double click on [ID:nnWLB3045], for statement [ID:nnRnsG6712H].
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08:49GMT 07Nov2008-Rentokil up after solid Q3 results
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Shares in Rentokil Initial (RTO.L) rise 4 percent to 48.75 pence after the services group reports slightly better than expected third quarter results and says its turnaround plans are on-track and should take three or four years to complete.
The company, founded in the 1920s, is still suffering from the poor integration of acquisitions and misguided cost-cutting plans by previous management.
"The results were a touch better than our expectations with the over-riding message that the broken businesses were on their way to being fixed, with the possible exception of UK washrooms," says Seymour Pierce analyst Kevin Lapwood.
For more, click on [ID:nL7070002]
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08:47GMT 07Nov2008-UK Small Caps gain 0.2 pct early
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Britain's FTSE Small Cap index .FTSC gains 0.2 percent, underperforming blue chips .FTSE and mid caps .FTMC, both up 1.7 percent.
The FTSE Developed European Small Cap index .FTDEUSC is 1.2 percent higher, while the FTSEurofirst 300 .FTEU3 adds nearly 1 percent.
BTG (BGC.L) climbs 4.4 percent as the biotech company says it is in line for up to $307 million after licensing out a preclinical cancer drug to U.S.-based Onyx Pharmaceuticals (ONXX.O).
Model trains and Corgi models group Hornby (HRN.L) falls 7.2 percent after the company reports a 33 percent drop in half-time profits to 1.8 million pounds and warns that retail markets have become more challenging.
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08:31GMT 07Nov2008-BTG rises on Onyx deal
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British biotech company BTG (BGC.L) (BGC.L) rises 5 percent after announcing that it is in line for up to $307 million after licensing out a preclinical cancer drug to US based Onyx Pharmaceuticals (ONXX.O).
"They've got a lot of money for a preclinical drug ... the deal is very financially attractive although we are also getting more information on the Varisolve trial," says an analyst.
For more click on [ID:nL7690656], company statements [ID:nRnsG6823H] and [ID:nRnsG6824H]
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08:22GMT 07Nov2008-Hornby falls on H1 profits slump
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Shares in Hornby Plc (HRN.L), the model trains and Corgi models group, fall 7.2 percent to 122 pence after it reports a 33 percent drop in half-time profits to 1.8 million pounds and warns that retail markets have become more challenging.
Brokers WH Ireland says current consensus estimates of about 8 million pounds for 2008/09 now look "overly optimistic" and that the challenge to margins and volumes would pertain in the second half of the year. "Accordingly, we expect to see downgrades put through and we would recommend avoiding the shares at present," the broker added.
For more click on [ID:nL6473477]; company statement [ID:nRn1G6727H]
malcolm.locke@thomsonreuters.com; +44 207 542 0964
06:35GMT 07Nov2008-Corporate agenda for Friday
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BRITISH AIRWAYS (BAY.L) H1/TRAFFIC
DECHRA PHARMA DEPC.L AGM
GALLIFORD TRY (GFRD.L) AGM
HORNBY (HRN.L) H1
LOK'N STORE (LOK.L) YEAR
RENTOKIL INITIAL (RTO.L) Q3 TRADING
ROBERT WISEMAN (RWD.L) H1
STANELCO (SEO.L) TRADING
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