STOCKS NEWS UK SMALL-Intercytex soars after Pfizer-UCL deal
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09:17GMT 27Apr2009-Intercytex soars after Pfizer-UCL deal
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Shares in skin regeneration specialist Intercytex (ICX.L) rise 44 percent, continuing last week's rally, after drug giant Pfizer (PFE.N) strikes a deal with University College London to develop stem cell treatments for eye conditions, an area in which Intercytex has assets.
"It underlines the potential of the technology ... people might be thinking if Pfizer is looking at this then maybe some other company may want to buy the Intercytex assets," says analyst Jacob Plieth at Edison Investment Research.
To see the Pfizer statement click on [ID:nBw245097a].
Reuters messaging rm://ben.deighton.thomsonreuters.com@reuters.net
08:56GMT 27Apr2009-JJB up ahead of key creditor meeting
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Shares in JJB Sports (JJB.L) rise as much as 21 percent on talk that the troubled sportswear retailer will secure creditor backing for a new rent agreement with its landlords.
At a meeting later on Monday, JJB needs three quarters of its creditors to back a company voluntary agreement (CVA) that will help secure its future by cancelling leases on 140 of its closed stores and moving to monthly rent for a year on shops still operating.
"Recent share price moves would suggest growing confidence in the market that JJB will gain the 75 percent support it needs," says Altium analyst David Stoddart. "The proposal for the trading units is far from unreasonable in current circumstances ... signs seem to point in the direction of a successful outcome for JJB."
Reuters messaging rm://rhysl.jones.reuters.com@reuters.net
08:49GMT 27Apr2009-Fish shares up, pork down on swine flu
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Shares in Marine Harvest Group (MHG.OL), the world's biggest fish farmer, rise more than 10 percent with traders speculating swine flu could lift salmon prices as witnessed during previous outbrakes of bird flu and cow disease.
Smaller salmon farmer and fish feed supplier Austevoll Seafood (AUSS.OL) jumps 14 percent. In Spain, frozen fish company Pescanova (PVA.MC) is up 4.5 percent, while sausage casings company Viscofan (VIS.MC) is down 9.5 percent. British sausage skin maker Devro (DVO.L) falls 4.6 percent and pork supplier Cranswick (CWK.L) falls 4.7 percent.
"Historically, the effects have been temporary, but right then and there the effect can be substantial (on prices)", says fish farming analyst Dag Sletmo at ABG Sundal Collier.
"Consumers can become nervous, and substitute swine with other sources of protein," Sletmo says, adding supply of swine would not be affected unless there were import restrictions or slaughter of infected animals.
Reuters messaging rm://richard.solem.reuters.com@reuters.net
08:30GMT 27Apr2009-Segro down, Arbuthnot cuts forecasts
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Shares in Segro (SGRO.L) fall as much as 6 percent as broker Arbuthnot cuts its 2009 profit forecast for the property company, saying the value of the group's portfolio will likely fall further and that it will struggle to build out its pipeline of developments.
The company, which also had its rating cut to "neutral" from "buy" by UBS on Wednesday, saw its pretax profit forecast slashed by 30 percent to 96.6 million pounds by Arbuthnot.
"We expect the performance of industrials to lag that of the other sectors on the grounds that, for example, retailers will reduce the number of units they wish to occupy," says analyst Nan Rogers.
"Another is that industrial properties are particularly affected by the change in the rules to 'empty rates' which came into effect last year."
Reuters messaging rm://rhysl.jones.reuters.com@reuters.net
08:23GMT 27Apr2009-Eckoh up after update, contract wins
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Shares in hosted speech recognition services company Eckoh (ECK.L) gains 9.3 percent after an upbeat update highlighting a three-year contract with Capita (CPI.L) and Intelecom UK, alongside two contract renewals in the utility sector.
Eckoh, which provides services for organisations looking to automate high volume, repetitive customer service activities, says it swung to a full-year adjusted profit that will be in line with market expectations, from an adjusted loss of 1.6 million pounds in 2007/2008, boosted by restructuring.
"This deal in conjunction with Capita is likely to be a material contributor to revenue growth," says Seymour Pierce in an note, keeping its "buy" recommendation.
The broker says it appears that, as expected, the difficult economic environment is proving beneficial with regard to sales leads as Eckoh's speech automation technology can generate cost savings for customers, with the sales team having recently been expanded as a result.
For more double click on [ID:nRnsa1734R]
08:13GMT 27Apr2009-Genus falls over pork concerns
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Shares in animal genetics company Genus (GENS.L) fall as much as 6 percent as the swine flu outbreak raises concerns over the price of pork and worries over restrictions on pig transportation.
"Short term there could be some impact on pig prices and there could be some regional disruption, and that can get amplified in the Genus share price," says an analyst, adding that the stock has rallied recently and may have been at risk of a fall back anyway.
For more on swine flu, click on [IDD:nFLU]
Reuters messaging rm://ben.deighton.thomsonreuters.com@reuters.net
07:30GMT 27Apr2009-Small caps fall 0.5 percent early on
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The FTSE Small Cap index .FTSC falls 0.5 percent in early trade, faring better than both the blue chips .FTSE and the midcaps .FTMC, which fall 1 percent and 1.6 percent, respectively.
Consultancy and software company Business Control Solutions (BCTL.L) is marked down almost 31 percent as it forecasts its full-year profit and revenue below market estimates.
Eckoh (ECK.L), the hosted speech recognition services company, gains over 9 percent after saying in a trading update it has swung to a full-year adjusted profit that will be in line with market expectations, from an adjusted loss of 1.6 million pounds in 2007/2008, boosted by restructuring.
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