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STOCKS NEWS UK-Hornby up on Olympics licence win
Tue, 21st Jul 2009 12:45
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11:25GMT 21Jul2009-Hornby up on Olympics licence win
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Shares in Hornby rise 3.4 percent after the toy maker wins a licence to make a range of toys and collectables for the London 2012 Olympic Games across its Corgi, Hornby, Scalextric and Airfix brands.
'This adds some spice to Hornby's earnings potential over the next two years. Although the first products will be launched in time for Christmas this year, we would expect the real benefit to come through in 2011 and 2012,' says Numis analyst Andrew Wade.
Fore more, click on
Reuters messaging rm://rhysl.jones.reuters.com@reuters.net
10:24GMT 21July2009-Speedy Hire rises on in-line outlook
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Shares in Speedy Hire Plc rise as much as 6 percent after the tool-hire company says its outlook for the year remains in line with its expectations and it continues to operate within headroom and covenants.
'Comfort will be taken from the fact that management expectations remain unchanged,' says analyst John Cummins of WH Ireland.
Analyst Michael Parkinson of Brewin Dolphin says he still sees longer-term investment attractions after the company noted some signs of stability returning to its markets.
For more details please click on
Reuters messaging rm://tresa.sherin.thomsonreuters.com@reuters.net
09:46GMT 21Jul2009-Next falls after outperformance
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Shares in Next reverse earlier gains to trade down 1.8 percent as investors book profits after a period of outperformance from the British fashion retailer, despite the group raising its profit guidance after first-half clothing sales were boosted by good weather in early summer.
Next's price target was increased by Credit Suisse, Nomura and Morgan Stanley last week, while the stock has risen in value by more than 11 percent in the last month.
'Next outperformed the market last week after several upgrades from major banks and there's clearly some profit taking happening now, which is pushing the stock lower. Next has obviously been a bit cautious with previous guidance but its trading update was much better than expected,' says Arbuthnot analyst Jean Roche.
For more, click on
Reuters messaging rm://rhysl.jones.reuters.com@reuters.net
09:18GMT 21Jul2009-Brammer down as sales slip
---------------------------------------------
Shares in mechanical parts manufacturer Brammer Plc fall more than 7 percent as its first-half sales dip due to tough trading in most of its markets.
KBC Peel Hunt analyst Dominic Convey says: 'It's clear that trading on a year-on-year, sales per working day basis have continued to soften in the last two months of the first half, but this was against a tougher comparable period.
'Management have taken swift action on costs and converted inventory to cash to alleviate covenant concerns'. Convey, who has a 'buy' rating on the stock,
adds that he now considers a fundraising as highly unlikely in the near-term.
For more, click on
Reuters messaging rm://purwa.naveen.reuters.com@reuters.net
08:49GMT 21Jul2009-Cluff Gold up; Kalsaka mine commissioned
-----------------------------------------------------------
Shares in Cluff Gold rise 5.2 percent as the West Africa-focused gold miner announces its Kalsaka mine in Burkina Faso has been fully commissioned, with production for the first six-months of 2009 standing at 26,772 ounces at a total operating cost of $632 per ounce.
'we believe that the shares will be re-rated on this news and further still once Angovia is fully commissioned, which we expect by the beginning of calendar Q4 2009,' says Evolution securities, which rates Cluff as 'buy'.
Cluff forecasts production at Kalsaka for the full year will be 60,000 ounces, while Evolution says once Angovia is out of commissioning the company 'should be producing gold at an annualised rate of 100,000 ounces a year by the end of calendar 2009.'
For more double click on
Reuters Messaging rm://david.brett.reuters.com@reuters.net
08:20GMT 21Jul2009-Mecom up as rights issue overhang clears
-----------------------------------------------------------
Shares in newspaper group Mecom soar 15 percent as traders back the stock following the completion of its recent rights issue, saying the shares have been 'drastically oversold'.
'The overhang from the rights issue has now been cleared and the stock looks set for a decent rally,' a trader says.
Mecom plunged 28 percent after it announced plans for a 6-for-1 rights issue at 1.5 pence on May 22, have already fallen 80 percent since the end of April when the company admitted its struggles with declining advertising revenues.
Reuters Messaging rm://david.brett.reuters.com@reuters.net
08:07GMT 21Jul2009-Playtech warns on FY, dragging sector down
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Shares in Playtech fall as much as 29 percent to 320 pence, dragging gambling stocks down, after the online gaming software provider warns full-year trading will be below market forecasts as its joint venture with William Hill makes a slower-than-expected start to the year.
Deutsche Bank downgrades the stock to 'hold' from 'buy' and cuts its price target to 420 pence from 630 pence. It also cuts its 2009 adjusted EBITDA forecast to 96 million euros from 124 million and its 2010 expectation to 111 million euros from 147 million.
Deutsche Bank analyst Simon Champion says that integration issues related to William Hill Online, which Playtech took a 29 percent stake in following a deal last October, were the main reason for the performance being below expectations.
'Integration has been slower than expected across the business. We have also adjusted our expectations for the group's core business downwards to reflect a difficult underlying market in poker, which we believe is being seen across the industry,' he said.
William Hill drops 4 percent, with PartyGaming losing 2 percent, Ladbrokes 1 percent, and 888 1 percent.
For more please click on
Reuters messaging rm://matthew.scuffham.reuters.com@reuters.net
COPYRIGHT
Copyright Thomson Reuters 2009. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Results diary
Europe Real-time Equity News
UK Stocks on the move
UK smallcaps
11:25GMT 21Jul2009-Hornby up on Olympics licence win
----------------------------------------------------
Shares in Hornby rise 3.4 percent after the toy maker wins a licence to make a range of toys and collectables for the London 2012 Olympic Games across its Corgi, Hornby, Scalextric and Airfix brands.
'This adds some spice to Hornby's earnings potential over the next two years. Although the first products will be launched in time for Christmas this year, we would expect the real benefit to come through in 2011 and 2012,' says Numis analyst Andrew Wade.
Fore more, click on
Reuters messaging rm://rhysl.jones.reuters.com@reuters.net
10:24GMT 21July2009-Speedy Hire rises on in-line outlook
--------------------------------------------------------
Shares in Speedy Hire Plc rise as much as 6 percent after the tool-hire company says its outlook for the year remains in line with its expectations and it continues to operate within headroom and covenants.
'Comfort will be taken from the fact that management expectations remain unchanged,' says analyst John Cummins of WH Ireland.
Analyst Michael Parkinson of Brewin Dolphin says he still sees longer-term investment attractions after the company noted some signs of stability returning to its markets.
For more details please click on
Reuters messaging rm://tresa.sherin.thomsonreuters.com@reuters.net
09:46GMT 21Jul2009-Next falls after outperformance
--------------------------------------------------
Shares in Next reverse earlier gains to trade down 1.8 percent as investors book profits after a period of outperformance from the British fashion retailer, despite the group raising its profit guidance after first-half clothing sales were boosted by good weather in early summer.
Next's price target was increased by Credit Suisse, Nomura and Morgan Stanley last week, while the stock has risen in value by more than 11 percent in the last month.
'Next outperformed the market last week after several upgrades from major banks and there's clearly some profit taking happening now, which is pushing the stock lower. Next has obviously been a bit cautious with previous guidance but its trading update was much better than expected,' says Arbuthnot analyst Jean Roche.
For more, click on
Reuters messaging rm://rhysl.jones.reuters.com@reuters.net
09:18GMT 21Jul2009-Brammer down as sales slip
---------------------------------------------
Shares in mechanical parts manufacturer Brammer Plc fall more than 7 percent as its first-half sales dip due to tough trading in most of its markets.
KBC Peel Hunt analyst Dominic Convey says: 'It's clear that trading on a year-on-year, sales per working day basis have continued to soften in the last two months of the first half, but this was against a tougher comparable period.
'Management have taken swift action on costs and converted inventory to cash to alleviate covenant concerns'. Convey, who has a 'buy' rating on the stock,
adds that he now considers a fundraising as highly unlikely in the near-term.
For more, click on
Reuters messaging rm://purwa.naveen.reuters.com@reuters.net
08:49GMT 21Jul2009-Cluff Gold up; Kalsaka mine commissioned
-----------------------------------------------------------
Shares in Cluff Gold rise 5.2 percent as the West Africa-focused gold miner announces its Kalsaka mine in Burkina Faso has been fully commissioned, with production for the first six-months of 2009 standing at 26,772 ounces at a total operating cost of $632 per ounce.
'we believe that the shares will be re-rated on this news and further still once Angovia is fully commissioned, which we expect by the beginning of calendar Q4 2009,' says Evolution securities, which rates Cluff as 'buy'.
Cluff forecasts production at Kalsaka for the full year will be 60,000 ounces, while Evolution says once Angovia is out of commissioning the company 'should be producing gold at an annualised rate of 100,000 ounces a year by the end of calendar 2009.'
For more double click on
Reuters Messaging rm://david.brett.reuters.com@reuters.net
08:20GMT 21Jul2009-Mecom up as rights issue overhang clears
-----------------------------------------------------------
Shares in newspaper group Mecom soar 15 percent as traders back the stock following the completion of its recent rights issue, saying the shares have been 'drastically oversold'.
'The overhang from the rights issue has now been cleared and the stock looks set for a decent rally,' a trader says.
Mecom plunged 28 percent after it announced plans for a 6-for-1 rights issue at 1.5 pence on May 22, have already fallen 80 percent since the end of April when the company admitted its struggles with declining advertising revenues.
Reuters Messaging rm://david.brett.reuters.com@reuters.net
08:07GMT 21Jul2009-Playtech warns on FY, dragging sector down
-------------------------------------------------------------
Shares in Playtech fall as much as 29 percent to 320 pence, dragging gambling stocks down, after the online gaming software provider warns full-year trading will be below market forecasts as its joint venture with William Hill makes a slower-than-expected start to the year.
Deutsche Bank downgrades the stock to 'hold' from 'buy' and cuts its price target to 420 pence from 630 pence. It also cuts its 2009 adjusted EBITDA forecast to 96 million euros from 124 million and its 2010 expectation to 111 million euros from 147 million.
Deutsche Bank analyst Simon Champion says that integration issues related to William Hill Online, which Playtech took a 29 percent stake in following a deal last October, were the main reason for the performance being below expectations.
'Integration has been slower than expected across the business. We have also adjusted our expectations for the group's core business downwards to reflect a difficult underlying market in poker, which we believe is being seen across the industry,' he said.
William Hill drops 4 percent, with PartyGaming losing 2 percent, Ladbrokes 1 percent, and 888 1 percent.
For more please click on
Reuters messaging rm://matthew.scuffham.reuters.com@reuters.net
COPYRIGHT
Copyright Thomson Reuters 2009. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
