STOCKS NEWS UK SMALL-Osmetech up as submits swine flu test
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13:11GMT 11May2009-Osmetech up as submits swine flu test
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Shares in Osmetech (OMH.L) rise as much as 18 percent after the diagnostic specialist asks the U.S. FDA to approve its portable rapid swine flu test under its Emergency Use Authorization procedure.
"It does provide interesting potential upside from nowhere," says Ian Wainwright, Managing Director of Life Sciences Specialist Sales at Canaccord Adams, the company's broker.
To see Osmetech's statement please click on [ID:nRnsK0025S]
Reuters messaging rm://ben.deighton.thomsonreuters.com@reuters.net
12:40GMT 11May2009-UK small caps fall 0.6 percent midday
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The FTSE Small Cap index .FTSC falls 0.6 percent in midday trade, while the blue chips .FTSE are off 0.5 percent, and the midcaps .FTMC shed 2.9 percent.
Insurer Hiscox (HSX.L) falls nearly 3 percent on worries about the group's first-quarter investment performance, despite an otherwise positive trading statement, and amid profit taking. [ID:nLB44538]
African Copper (ACU.L) surges 80 percent after the miner announces it has struck a deal with rival group Zambian Copper Investments, which will provide African Copper with a comprehensive financing package of around $22.5 million. [ID:nCu529489a]
Reuters Messaging rm://tricia.wright.reuters.com@reuters.net
11:36GMT 11May2009-Gem higher on diamond hopes
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Shares in Gem Diamonds (GEMD.L) rise 15 percent, building on Friday's 20 percent gain, as investors react to a recovery in demand for rough diamonds with market conditions looking more positive according to analysts.
"They (Gem) have just raised money and we know diamond prices are getting a bit better. The share was pretty depressed so it's not all that surprising it should bounce," said Desmond Kilalea, a diamond analyst at RBC Capital Markets.
African Minerals (AMIq.L), which has diamond assets in Sierra Leone, also has support, rising by 18 percent.
"The whole sector's becoming in demand. The ones that produce look like they're getting some attention because people now hear that rough diamond prices have been reasonably strong over the past couple of months," said Kilalea. Reuters messaging rm://matthew.scuffham.reuters.com@reuters.net
11:02GMT 11May2009-Raymarine off high as sector retreats
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Shares in leisure yacht electronics supplier Raymarine (RAY.L) fall back 8.5 percent from last Friday's six-month high, but remain more than 90 percent higher than a month ago.
"If you look at the tech, hardware, electronics sector the foot's come off the accelerator today," says Ian Robertson, an analyst at Seymour Pierce.
Robertson adds that the retreat is magnified for Raymarine by the fact it is orientated towards big-ticket spending, is very high margin and the management took on a considerable amount of debt.
Reuters messaging rm://ben.deighton.thomsonreuters.com@reuters.net
10:28GMT 11May2009-Debenhams down; caution on rights issue
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Shares in Debenhams (DEB.L), Britain's second-biggest department store group, fall 2.6 percent after Altium Securities casts doubt over recent rights-issue speculation that would help cut its debt pile.
"If we are truly in the foothills of an economic recovery, Debenhams probably does not need to raise new money. On our current forecasts it generates around 15 million pounds less cash than it needs to make its 2010 term loan payment," the broker says.
However, the broker adds, it still feels "it is too early to be confident of a near-term recovery."
For more double click on [ID:nLA319154 ]
Reuters Messaging rm://david.brett.reuters.com@reuters.net
10:17GMT 11May2009-Aquarius P. down; Seymour Pierce "sell"
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Shares in platinum producer Aquarius Platinum (AQP.L) fall over 7 percent as Seymour Pierce repeats its "sell" recommendation on the stock, on read across from peer Lonmin's (LMI.L) interim results.
Seymour Pierce points out in a note that Lonmin's management say in Monday's results statement that they "anticipate no near-term relief to the current challenging market conditions."
The broker notes that Lonmin's management go on to say: "For platinum in particular, despite the moderate rise in price during the latter part of the period, an anticipated short-term improvement in jewellery demand coupled with investment interest is not enough to compensate for the ongoing weakness in automotive demand.
Seymour Pierce says it retains an "underweight" view on the Platinum Group Metal (PGM) sector at present.
Lonmin shares are more than 12 percent weaker.
Reuters Messaging rm://tricia.wright.reuters.com@reuters.net
10:11GMT 11May2009-Sports retailers up on takeover talk
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Shares in sports retailers JD Sports (JD.L) and JJB Sports (JJB.L) rise 2.5 percent and 3.5 percent respectively following weekend newspaper reports that JD sports is considering launching a takover bid for JJB in the coming months.
Seymour Pierce, which rates JD Sports as a "buy", says: "The acquisition, in our view, would be highly complementary to JD Sports existing sports fashion apparel and footwear business whilst for JJB it would help overcome current issues in re-establishing itself in the market."
Altium Securities, which has a "sell" rating on JJB, says: "While recognising that (JJB's) shares are likely to benefit from this story, we remain concerned that the shares might have run ahead of the fundamentals."
Reuters Messaging rm://david.brett.reuters.com@reuters.net
