African Copper Share News (ACU)

Fri, 15th May 2009 10:59

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09:20GMT 15May2009-African Copper down on bond repay demand

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African Copper Plc shares drop as much as 32 percent after it says it received a demand for the redemption of 150 million Botswana Pula ($22.3 million) bonds, calling for immediate repayment of the entire principal amount plus accrued interest.

The company says the bonds, issued by wholly owned subsidiary Messina Copper, were recently purchased by a third party and that it is seeking legal advice in relation to Messina's obligation.

Mike Stuart, analyst at Numis Securities, says bondholders are due to receive about $5 million, or 25 percent of the face value, of the bonds.

The third party 'is now demanding full payment, which is another $15 million that African Copper doesn't have at the moment', he says.

To see African Copper's statement please click on

Reuters messaging rm://julie.crust.reuters.com@reuters.net



09:13GMT 15May2009-Hansen runs out of puff post results

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Shares in Hansen Transmissions fall 4.8 percent after the company reports its full-year 2009 results, with Ambrian noting improved margins but saying positive sentiment had already been built into the price.

The Belgium-based wind turbine gearbox maker reports net profit rose to 45 million euros from 32.3 million euros in the previous year, while revenue climbed 45 percent year-on-year to 609 million euros, with an EBITDA margin of 15.38 percent from 14.50 percent last year.

'Hansen's share price is up 70 percent in the last seven weeks on the back of unconfirmed takeover speculation from Vestas, combined with the effects of the UK Budget support for offshore wind,' says the broker.

'Despite improved margins, we see recent positive sentiment already priced into the stock, but still favour Hansen as one of the premier alternative energy stocks on the market,' Ambrian adds.

Reuters Messaging rm://david.brett.reuters.com@reuters.net



08:42GMT 15May2009-Antisoma rises after cancer drug update

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Shares in cancer specialist Antisoma rise as much as 3 percent to 31 pence after the company releases fresh data for its leukaemia drug AS1411 in the run up to the American Society of Clinical Oncology annual meeting at the end of May.

'We believe AS1411 continues to show encouraging safety and efficacy in relapsed/refractory acute myeloid leukaemia,' say analysts at Piper Jaffray in a note to clients.

The broker has a 'buy' recommendation on the stock and a target price of 81 pence.

Reuters messaging rm://ben.deighton.thomsonreuters.com@reuters.net



08:24GMT 15May2009-Renishaw up; sees lower H2 operating loss

------------------------------------------------------------ Shares in Renishaw gain 5 percent as the precision engineer says cost-cutting efforts mean second-half operating losses will be lower than the previously expected 10 million pounds.

KBC Peel Hunt upgrades the company to 'Hold' from 'Sell' and says it expects to increase 2009 forecasts.

'While we do not view Renishaw as being 'out of the woods' 'While we do not view Renishaw as being 'out of the woods' it has made good inroads on cost cutting and net cash of 14 million pounds reduces the risk of the final dividend being passed,' write the analysts in a note.

For more, please click on

Reuters messaging rm://victoria.bryan.thomsonreuters.com@reuters.net



08:19GMT 15May2009-Premier Farnell up; HSBC upgrades

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Shares in Premier Farnell rise as much as 2 percent after HSBC upgrades the electronic components distributor to 'overweight' fom 'neutral', and lifts its target price to 180 pence from 120 pence.

HSBC says it upgrades the company, which reported slowing sales in Q4 in March, as a cyclical play.

Premier Farnell shares have fallen 13 percent since its 2009 high of almost 163 pence.

Reuters Messaging rm://david.brett.reuters.com@reuters.net



07:55GMT 15May2009-Computacenter up on positive H1 view

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Shares in Computacenter rise 7.1 percent as the IT firm says profit in the first four months was well ahead year-on-year and it sees similar progress for the first half.

Analyst George O'Connor at Panmure Gordon, who has a 'buy' rating on the stock, says the company is better configured, selling more higher margin products and services, and he raises his 2009 earnings per share forecast to 21.3 pence from 20.2 pence.

'Our view is unchanged -- Computacenter is a story about the transformation of the offer -- selling more service has a dramatic positive impact on group profitability and delivers positive earnings surprises,' he says in a note.

For more, click on, company statement

Reuters messaging rm://paul.sandle.reuters.com@reuters.net



07:55GMT 15May2009-Ladbrokes down as profit falls

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Shares in Ladbrokes fall 6 percent after Britain's biggest bookmaker says its gross profit fell by a third in the four months to end April after a run of punter-friendly results in March, particularly at the Cheltenham Festival.

The group says its gross win was flat overall in the four month period. UK over-the-counter gross win falls 4 percent in British shops and e-gaming revenues drop 2 percent.

'Ladbrokes is underperforming its closest peer (William Hill) across each of the key business units. Perhaps the most notable area is online, where the modest decline in Ladbrokes' net revenue compares unfavourably with William Hill (up 10 percent),' says Goldman Sachs analyst Patrick Hargreaves.

For more, click on

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



07:48GMT 15May2009-PV Crystalox slumps on H1 warning

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Shares in solar company PV Crystalox slump 20 percent as it warns on first half revenues, with slowing customer demand leading to order deferrals.

'Long-term contracts can withstand only so much and the rate of order deferral has increased. Downward revision to earnings are needed,' says Andrew Shepherd-Barron at KBC Peel Hunt.

The broker revises 2009 pretax profit estimates down to 80 million euros from 93 million, but remains a 'buy', citing Japanese exposure, a strong balance sheet, and the stock being the cheapest play in the sector.

For more double click on.

Reuters Messaging rm://lorraine.turner.reuters.com@reuters.net



07:36GMT 15May2009-FTSE small caps up 0.5 pct at open

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The FTSE Small cap index climbs 0.5 percent in early trade as the London market looks to end the week on a bullish note, with the FTSE 100 up 0.2 percent and the FTSE 250 gaining 0.6 percent.

SciSys rises 12.1 percent as the IT and software solutions provider announces its media and broadcast division has won a 4 year contract worth between 10 and 15 million pounds with the British Broadcasting Corporation.

PV Crystalox Solar slide 13.9 percent after warning first half revenues would be 10 percent lower after warning customer demand weighs on its order book. The company, which applies silicon wafers to solar cell makers, says it has had a number of requests for order deferrals.

Reuters Messaging rm://david.brett.reuters.com@reuters.net



07:23GMT 15May2009-AGI tumbles after Rezular failure

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Shares in stomach drug specialist AGI Therapeutics plummet 59 percent after the company says that its lead drug Rezular has failed in large-scale tests.

'Rezular made up the bulk of our sum-of-parts net present value for AGI,' say analysts at Piper Jaffray, downgrading their recommendation to 'neutral' from 'buy'.

To see AGI's statement please click on

Reuters messaging rm://ben.deighton.thomsonreuters.com@reuters.net



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