STOCKS NEWS EUROPE-Colonia Real down; Commerzbank cuts
STOCKS NEWS Reuters Results diary
Stocks on the move [HOT-RTRS] Real-time Equity News [E] [WEU/EQUITY]
10:55GMT 30March2009-Colonia Real down; Commerzbank cuts to "hold"
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Shares in Colonia Real Estate (KBUG.DE) a company active in the real estate and asset management sectors, fall 5.8 percent on Frankfurt's smallcap index .SDAXI, after Commerzbank downgrades the company to "hold" from "buy".
"Short-term visibility remains low and we see a risk that the results (Q4 due March 31) may confirm investor concerns that the negative news has not yet come to an end," Commerzbank writes in a note.
Reuters Messaging rm://christoph.steitz.reuters.com@reuters.net
10:41GMT 30March2009-Kentz higher after results
----------------------------------------------- Shares in engineering group Kentz (KENZ.L) gain more than 6 percent as the company unveils a 19 percent rise in its full-year adjusted pretax profit, and says its outlook for 2009 and 2010 remains positive.
"Kentz's focus on areas of growth and customers who are financially secure, combined with a strong backlog, gives excellent visibility for 2009," Evolution Securities says in a note, keeping its "buy" recommendation on the stock.
"The strong balance sheet gives opportunity too, although the company has been astute not to jump into acquisitions in a falling market," says the broker.
Evolution adds that with margins expected to be similar to 2007/2008, profit growth also looks solid, noting that this is something rare in the sector in the current climate.
For more double click on [ID:nBNG439793]
Reuters Messaging rm://tricia.wright.reuters.com@reuters.net
10:32GMT 30March2009-Aareal Bank drops after WestLB cuts to "add"
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Shares in German property lender Aareal Bank (ARLG.DE) drop 9.1 percent as the second-sharpest decliner on Frankfurt's smallcap index .SDAXI, after WestLB downgrades the stock to "add" from "buy".
"In our view, this might be the most difficult year for the niche commercial real estate lender in the current credit cycle," the brokerage writes in a note.
Reuters Messaging rm://christoph.steitz.reuters.com@reuters.net
10:32GMT 30March2009-Oxford Catalysts slips on revenue delay
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Oxford Catalysts Group Plc (OCG.L) shares fall more than 14 percent after the specialty chemicals company widens its year pretax loss and Piper Jaffray lowers its price target because of product-development delay concerns.
"We maintain ouy Buy recommendation and are lowering our price target to 98p from 142p in light of product development delay concerns, which has pushed out our revenue estimates by at least 12 months," the brokerage says in a note.
For more please click on [ID:nBNG478000]
Reuters messaging rm://austin.lobo.thomsonreuters.com@reuters.net
10:24 30Mar2009-AstraZeneca higher after Crestor news
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Shares in AstraZeneca (AZN.L) buck a sharply weaker market trend, adding 1.1 percent following positive clinical trial results with its blockbuster cholesterol drug Crestor at the weekend.
Data presented at the American College of Cardiology shows Crestor cuts the risk of dangerous blood clots in the vein by 43 percent, adding to the drug's reputation as the best statin in its class.
Panmure Gordon analyst Savvas Neophytou says the news should provide near term support, though investors may be wary ahead of the release of FDA briefing documents on diabetes drug Onglyza, which is to be reviewed by an FDA expert panel on April 1. For more on Crestor data double click on [ID:nN29308215]
For preview of Onglyza panel click on [ID:nN26493134]
Reuters Messaging rm://ben.hirschler.reuters.com@reuters.net
10:13GMT 30Mar2009-Individual Restaurant up; FYs inline
------------------------------------------------------- Shares in Aim-listed Individual Restaurant Company (INDRE.L) rise 3.7 percent, outperforming the FTSE Small cap index .FTSC which falls 0.9 percent, as the restaurant operator posts full-year results which traders say are in line with expectations.
The company also reports trading in the first part of this year is slightly ahead of expectations, which broker Singer calls is encouraging.
In addition, Individual Restaurant announces that it has renegotiated its 18.5 million pound bank facilities until January 2012, which Singer says although it was not in breach of its existing covenants, its new covenants give it more breathing space.
For more double click on [ID:nRnsd6650P]
Reuters Messaging rm://david.brett.reuters.com@reuters.net
10:05GMT 30March2009-Lamprell falls after results
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Shares in Lamprell (LAM.L) fall over 7 percent as the oil and gas services company slashes its final dividend by 74 percent and expresses caution over its outlook, in the wake of a 2009 profit warning on March 20.
A slowdown in refurbishment work is expected in second half 2009 and weaker opportunities for new build jack-up/FPSO related work, says RBS in a note.
"The backlog at $600 million extends into 2010 and, while there have been no cancellations to date we view certain projects within this backlog with uncertainty," RBS says.
The broker keeps its "sell" recommendation on the stock. For more double click on [ID:nNBNG36545]
Reuters Messaging rm://tricia.wright.reuters.com@reuters.net
09:43 GMT 30-March-2009-Corin shares up after results
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Shares of British medical equipment maker Corin Group (COCRG.L) rise 7.3 percent after the company posts full-year results ahead of market estimates and says it has made a steady start to 2009 and that the implementation of its revised strategy is progressing well.
Analyst Julie Simmonds of Piper Jaffray says: "The company has seen particularly strong performances from the UK and Australia, coming in ahead of our expectations."
The analyst, who has a "neutral" rating on the stock, says: "Corin is delivering on the core business strategy and we believe we are seeing the first signs of improvement in the U.S. operation."
To see Corin Group's statement please click on [ID:nRn1d6632P]
Reuters messaging rm://purwa.naveen.reuters.com@reuters.net
09:34GMT 30March2009-Phorm shares up as begins Korea trial
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Shares in Phorm Inc (PHOR.L) rise 4.5 percent to 465 pence after the advertising technology company announces a commercial trial of its technology with Korean Internet service provider (ISP) KT.
Brokerage Evolution Securities, which maintains a 'buy' rating on the stock, says Korea is one of the leading broadband subscriber markets in the world with a significant online advertising market of $1.6 billion.
Analyst James Wheatcroft of Evolution says: "We expect other ISPs in South Korea to sign in due course. Minimal capex is required for the trial."
To see Phorm's statement click on [ID:RNSd6770P]
Reuters messaging rm://srikanth.srinivasa.reuters.com@reuters.net
09:28GMT 30March2009-Asterand soars on strong FY results
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Shares in Asterand (ATD.L) climb 33 percent pence after the provider of human tissue-based services to pharmaceutical companies says it becomes profitable for the first time as a public company as revenue doubles and supplies of tissue samples increase.
Analyst Vadim Alexandre of Daniel Stewart says: "Asterand's FY08 results exceeded our expectations. Despite the global economic recession, the group continues to deliver robust sales growth."
The brokerage has a 'buy' rating on the company's stock.
To see Asterand's statement please click on [ID:nRnsd6766P]
Reuters messaging rm://tresa.sherin.reuters.com@reuters.net
