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STOCKS NEWS UK-Intelligent Environments up on strong H1

Mon Sep 21, 2009 4:15am EDT

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07:50GMT 21Sep2009-Intelligent Environments up on strong H1

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Shares in Intelligent Environments (IEN.L) rise as much as 4.5 percent after the online software provider for financial services reports a 17 percent rise in first-half profit, with difficulties in the banking sector offset by a strong market for online retail savings systems.

"The continuing expansion into related areas such as savings and secure online customer servicing provides us confidence that the company will meet our full year expectations despite the downturn in the consumer finance markets," says FinnCap analyst Paul Cornelius.

To see IE's statement please click on [ID:nRn1U3022Z]

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

07:47GMT 21Sep2009-C&W easier; ING downgrades

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Shares in Cable & Wireless (CW.L) fall 1.7 percent as ING cuts its rating to "hold" from "buy" after reducing its estimates and target price for the telecoms carrier.

The broker cuts its EBITDA forecasts for C&W's International division by 4.6 percent to $892 million, taking its estimate below the company's guidance of $935 million which it last confirmed at the trading statement in July.

ING points out that the July statement warned of continuing pressure in the Caribbean and slower enterprise spending in Panama and the broker believes these trends seem to be persisting.

The broker says, against this backdrop, hopes that value creation will move firmly back on the agenda for C&W look optimistic for now.

ING reduces its target price for C&W to 155 pence from 160.

Reuters Messaging rm://jon.hopkins.reuters.com@reuters.net

07:45GMT 21Sep2009-M.P. Evans falls on lower profit forecast

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Shares in M.P. Evans (MPE.L) fall 5.3 percent after the producer of palm oil and beef cattle posts a 15 percent drop in first-half pretax profit and forecasts a reduced operating profit for 2009.

"Profits were hit by the large fall in the palm oil price from the exceptional levels seen in H1 2008," says analyst Graham Jones of Panmure Gordon.

The broker trims its EPS forecast to 15.55 cents on a cyclical downturn and wet weather at one of the firm's associates, but says M.P. Evans "continues to make strategic progress" and reiterates its 'buy' stance.

For more please click on [ID:nRon86750a]

Reuters messaging rm://tresa.sherin.reuters.com@reuters.net



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