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STOCKS NEWS EUROPE-Babcock falls after first half results

Tue Nov 10, 2009 8:47am EST

Stocks

   

Shares in Babcock International (BAB.L) fall 5.5 percent as investors pocket profits after the engineer reports an expected 30 percent rise in first-half profit, driven by growth in its marine and defence units.

"This drop seems to be profit taking to me. Investors may be thinking it's better to travel than arrive," says Investec analyst John Lawson, who notes that Babcock's shares have jumped a third in the last quarter.

"The shares have risen strongly recently and there seems to be a bit of stabilisation taking place with a new base being established now."

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


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