STOCKS NEWS UK SMALL-Asterand up on bullish trading statement
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10:45GMT 14Nov2008-Asterand up on bullish trading statement
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Shares in Asterand Plc (ATD.L) rise 6.8 percent to 11.75 pence after the provider of human tissue-based services to pharmaceutical companies says third quarter sales are growing strongly and that it is on track for significant revenue growth in 2008 and is improving operational efficiency.
"Management has indicated that the medium term growth rate for their industry could be some 25 percent compound, but they expected Asterand to grow faster than the overall market ... Although next year will not benefit from a major consultancy contract, which will be completed this year, revenues could still grow," says Charles Stanley analyst Robert Corden.
To see Asterand's statement please click on [ID:nRnsK8615H]
Reuters messaging rm://rhysl.jones.reuters.com@reuters.net
10:33GMT 14Nov2008-RAB Capital up on fund closures
-------------------------------------------------- Shares in RAB Capital (RAB.L) rise 19.4 percent as bargain hunters tuck in on the back of a rallying market as the hedge fund manager says it plans to streamline the number of funds it offers, but analysts remain sceptical.
Evolution, which has withdrawn its rating and target price, says cash and investments equate to a price of 21 pence per share, well in excess of the current share price.
The broker says in a note: "The discount reflects both distrust over which funds the money is invested in (and what its realisable value might be) and that the cash is available for reinvestment in existing funds range and new fund opportunities as appropriate."
Evolution Securities analyst Jason Streets writes: "RAB's immediate prospects are grim."
For more double click on [ID:nRnsN1557I]
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10:15GMT 14Nov2008-Lo-Q higher on US contract extension
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Shares in Lo-Q Plc (LOQ.L) jump 17 percent to 34.5 pence after the virtual queuing system supplier signs an extended agreement with U.S. theme park operator Six Flags, which will see more of Lo-Q's 'Flash Pass' systems installed at the American group's theme parks.
"Six Flags, Lo-Q's largest customer, is increasing the number of parks that will be using Lo-Q's technology next year by two to 10. This, with the news that one million visitors used Lo-Q's Flash Pass this year, should imply upgrades for both this year and next year's forecasts," says Arbuthnot analyst Robert Sanders, who reiterates his 'strong buy' recommendation on the stock.
To see Lo-Q's statement please click on [ID:nRnsN1439I]
Reuters messaging rm://rhysl.jones.reuters.com@reuters.net
09:46GMT 14Nov2008-Johnston Press down, Investec cuts estimates
--------------------------------------------------------------- Shares in Johnston Press (JPR.L) fall 3.1 percent, bucking the trend of a resurgent market, as Investec Securities repeats its "sell" recommendation and cuts its forecasts, following the company's "disappointing" update on Wednesday.
Investec says it is reducing operating profit estimates by just over 5 percent in 2008 and 2009, with EPS coming down by 7.9 percent in 2008 and 6.5 percent in 2009.
The broker also slashes its target price to 8 pence from 30, adding "For those looking for UK newspaper exposure, Daily Mail and General Trust (DMGOa.L) remains our preference."
Daily Mail is up nearly 6 percent.
For more double click on [ID:nRnsL9573H]
Reuters Messaging rm://david.brett.reuters.com@reuters.net
09:37GMT 14Nov2008-GTL Resources slides on supply concerns
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Shares in GTL Resources (GTL.L) are marked down 4.8 percent to 20 pence after rival ethanol producer VeraSun Energy Corp VSUNQ.OB says its annual losses may be four times greater than the previously reported $99 million loss, as it struggles to secure corn feedstock at market prices.
"We expect to see further reduced ethanol supply into the market assisting in the narrowing of spreads moving forward. We are now at a critical point in the corn ethanol market as current prevailing crush spreads are insufficient for many less-efficient plants to operate profitably," says Arbuthnot analyst David Cunningham.
For more, click on [ID:nWNA9067]
Reuters messaging rm://rhysl.jones.reuters.com@reuters.net
09:36GMT 14Nov2008-Logica up as Q3 sales beat expectations
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Shares in Logica (LOG.L) (LOG.AS) rise as much as 9 percent to 82.25 pence, before retreating to 76 pence, as the Anglo-Dutch IT services firm posts better-than-expected third quarter sales and raises its full-year revenue growth target. Panmure Gordon analyst George O'Connor says the statement is "fairly positive-ish", and pleasingly the order book is 13 percent up on Q3. "Despite seeing a downturn in 2009, Logica still expects growth and margin improvement of 0.5 percent," he says. "We reserve judgement on this one," he adds, and retains his "hold" recommendation.
For more click on [ID:nLE365514], statement [ID:nPRrD4B28a]
Reuters Messaging rm://paul.sandle.reuters.com@reuters.net
09:14GMT 14Nov2008-Yell up as Teathers starts as "hold"
------------------------------------------------------- Shares in Yell Group (YELL.L) climb 4.2 percent as Teathers initiates its coverage with a "hold" recommendation, following the British directories company's robust first-half numbers on Tuesday.
Teathers analyst Charles Peacock says in a note: "The headline results were assisted by U.S. dollar and Euro exchange rates movements and some rescheduling of Spanish directories."
Teathers says the strong numbers have enabled Yell's management to reiterate full-year guidance for EBITDA to be broadly flat.
For more double click on [ID:nRn1K8702H]
Reuters Messaging rm://david.brett.reuters.com@reuters.net
09:05GMT 14Nov2008-Dyson plunges on profit warning
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Shares in Dyson Group Plc (DYS.L) plunge 45 percent to 18 pence after the company, which develops high performance materials used primarily in the automotive industry, says it expects to miss a full-year profit target due to falling sales volumes and could breach its banking covenants next year if the downturn worsens.
"The automotive industry is obviously suffering -- particularly in the United States -- and Dyson's second half will not be as good as the first half, which is disappointing but not actually that bad in the context of the sector. The company is only likely to breach its covenants if the situation gets very much worse though," say KBC Hunt traders.
For more, click on [ID:nWLB3741]
Reuters messaging rm://rhysl.jones.reuters.com@reuters.net
09:03GMT 14Nov2008-Vernalis rises as Acambis team takes over
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Shares in UK biotech firm Vernalis (VER.L) rise 12 percent after it announces that the former top team at Acambis is to take over management of the company.
"You'd point towards the success they had at Acambis ACM.SG," says Panmure analyst Damian McNeela. Acambis announced in July that it had agreed a 276 million pounds bid from development partner Sanofi-Aventis (SASY.PA).
For more click on [VER.L]
Reuters messaging rm://ben.deighton.reuters.com@reuters.net
08:35GMT 14Nov2008-Salamander Energy bounces after update
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Shares in Salamander Energy (SMDR.L) up 15.5 percent, topping the FTSE 250 .FTMC leaders board with the stock rallying after a recent volatile performance as a trading update provides some reassurance.
Oriel Securities says Salamander's interim management statement contains little new information but reaffirms that near-term production at the group growth is on track.
Another analyst points out that Salamander's share price has been "ludicrously volatile" recently, as has the sector, and the stock is simply reacting with the market rally today.
Reuters Messaging:jon.hopkins.reuters.com@reuters.net
08:28GMT 14Nov2008-FTSE Small Cap Index up 0.9 pct early on
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The FTSE Small Cap Index .FTSC climbs 0.9 percent in early trade as UK markets rally following a strong performance on Wall Street on Thursday, with the FTSE 100 Index up 3.2 percent.
New Star Asset Management NSAM.L rises 12.5 percent as traders look past a mainly bleak trading update, choosing to focus on the positive that it has managed to its financial covenants in respect of its bad debt.
Reuters Messaging rm://david.brett.reuters.com@reuters.net
08:20GMT 14Nov2008-Minster soars on cash levels
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Shares in Minster Pharmaceuticals (MPM.L) rise by 31 percent after its cash level surprises investors and as it draws closer to a key clinical result.
"It (the cash level) was 9 million pounds at the end of September and we had our forecast at 6.2 million, so it's quite a big difference. We are also getting closer to clinical data coming out early next year from a big phase 2b study, it's the pivotal information that everyone's waiting for," says Gary Waanders, analyst at Nomura Code.
To see the Minster statement please click on [ID:nRnsN1658I]
Reuters messaging rm://ben.deighton.reuters.com@reuters.net
06:44GMT 14Nov2008-Corporate agenda for Friday
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ATLAS ESTATES (ATLE.L) Q3
BLUEBAY ASSET (BBAY.L) AGM
CENTAUR MEDIA (CAU.L) CAU.L
LOGICA (LOG.L) TRADING
TULLETT PREBON (TLPR.L) TRADING
OCEAN WILSON (OCN.L) TRADING
NOVAE HOLDILNGS (NVA.L) TRADING
YALE CATTO (YULC.L) TRADING
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