Hasgrove Share News (HGV)

Mon, 17th Nov 2008 11:50

STOCKS NEWS Reuters Results diary

Stocks on the move Real-time Equity News



11:30GMT 17Nov2008-Cambrian Mining up, divisions show progress

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Shares in coal and gold miner Cambrian Mining rise 9.8 percent as

analysts point to positive progress at its Energybuild and AGD businesses, which

both increased production in the three months to the end of September, and saw

the completion of its acquisition of Coal International.

'Cambrian's current share price ascribes no value to these businesses with

the investment in Western Canadian Coal (WCC) the sole item represented,' says

Asa Bridle, an analyst at Seymour Pierce. 'With such a clear mis-pricing evident

in Cambrian, we believe there is a strong investment argument.'

To see Cambrian's statement please click on

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



11:20GMT 17Nov2008-Melorio rises on reverse takeover

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Shares in Melorio surge nearly 15 percent as it says it has

conditionally agreed to buy IT training companies Zenos Ltd and Zenos learning

Ltd, in a reverse takeover to diversify its services and revenue streams.

Singer says the transaction is just over 10 percent accretive to full-year

2010 EPS estimates and will comfortably cover its cost of capital in the first

full year of ownership.

The broker says the valuation of Melorio's shares, which currently trade on

a price earnings of 3.8 times 2009 and 3.1 times 2010, is too low for a business

with positive estimate momentum, a value enhancing M&A roll up strategy which

has just commenced and an un-stretched balance sheet.

For more double click on

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



11:16GMT 17Nov2008-United Internet down on bleak outlook

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Shares in German Internet service provider United Internet lose 10

percent euros making them the biggest losers in Germany's technology index following disappointing third-quarter results and a subdued 2008

earnings and dividend outlook.

'United's Q3 results have confirmed fears that the deteriorating macro

backdrop is putting severe pressure on its various operating activities many of

which are much more economically sensitive than typical telco services,'

JPMorgan analyst Hannes Wittig says in a note.

He adds: 'With growth slowing so rapidly, the implication is that United

will now be ex-growth next year in our view.'

Credit Suisse says: 'UTDI has issued 2008 group revenue and EBITDA guidance

well below our and consensus forecasts and we believe the risk to 2009 consensus

could be greater given a worsening European economy and ongoing DSL

competition.'

For more double click on

Reuters Messaging rm://nicola.leske.reuters.com@reuters.net



11:14 17Nov2008 - Tiscali gains on UK sale report

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Shares in Italian broadband company Tiscali SpA rise 6 percent,

boosted by a newspaper report that British Sky Broadcasting Plc is in

talks to buy Tiscali's British operations and has about 550 million euros ready

to pay for the British assets.

Tiscali and BSkyB decline to comment on the report.

'It is the same story as before. Tiscali has not talked about the price and

if the deal includes just the UK assets or if also it includes some debt,' a

Milan analyst says.

Reuters Messaging rm://nigel.tutt..thomsonreuters.com@reuters.net



10:45GMT 17Nov2008-Colonia Real Estate falls on HSBC downgrade

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Shares in Colonia Real Estate fall 8 percent, putting them among

the top-3 losers in Germany's small-cap index, clearly underperforming

European sector peers as HSBC downgrades its rating.

Citing a 'more cautious view of the German (property) investment market' and

Colonia Real Estate's 'low cash-generating business model', HSBC cuts the stock

to 'neutral' from 'overweight' and reduces its target price to 2 euros from 8

euros.

HSBC says in a note it does not expect Colonia Real Estate to pay a dividend

for 2008.

'We question Colonia's business model ... the business model must be

scrutinized in general, as we believe that in the current economic environment,

the company needs a clearly focused, cash flow positive business model,' HSBC

says.

Reuters Messaging rm://peter.starck.reuters.com@reuters.net



10:56GMT Nov172008-REpower higher on Suzlon's comments on stake buy

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Shares in REpower rise 5.7 percent, the top gainer on Germany's

TecDAX index, after Indian wind turbine maker Suzlon Energy

says it will tap cash on hand and debt to buy Martifier's stake in

its German unit REpower by May.

' will again head up speculation Suzlon may take REpower private,'

a Frankfurt-based trader says.

'If Suzlon really wants to gain the full benefits from technology sharing,

it will likely have to gain at least a majority share in REpower and could

delist the German tech company,' a second trader adds.

For more double click on

Reuters Messaging rm://tyler.sitte.thomsonreuters.com@thomsonreuters.net



10:55GMT 17Nov2008 - Belgium's Roularta sinks on lower FY guidance

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Shares in Roularta Media Group NV's (RLRT.BR) shares drop 5.7 percent in

thin trading after the Belgian media and publishing group lowers its 2008 net

profit forecast Monday, citing rising costs and pressure on the advertising

market.

'Everything which is advertising-linked will see tough times ahead,' says

Petercam analyst Gert Potvlieghe following the share price plummet.

He adds, however, that there was already a real recession priced in for

Roularta, and the stock should not see more significant falls unless the wider

economy turns even worse than expected.

KBC analyst Nathalie Sierens writes in a note that Roularta's weaker 2008

outlook was unexpected, and predicts significant downgrades once the bank has

revised its forecasts.

For more, double click on

Reuters Messaging: anne.jolis.thomsonreuters.com@reuters.net

10:33GMT 17Nov2008-Vinci falls on report gvt mulling tax hike

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Shares in French public works and transport concessions firm Vinci

drop 4.5percent, featuring among the biggest losers on the CAC 40 as

traders cite a report in Les Echos newspaper saying the French government is

mulling a sharp rise in public domain taxes paid by highway concession firms.

'Vinci would be the most affected given that it has the highest exposure to

French concessions. We estimate that a threefold rise in the annual Public

Domain tax until the end of the concession would clip 10 percent from our

valuation,' Exane analysts write in a note.

French government officials were not immediately available for comment on

the report.

Reuters Messaging rm://blaise.robinson.reuters.com@reuters.net



10:11GMT 17Nov2008-Northern Bear up on interims; broker 'buy'

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Shares in Northern Bear jump 11.2 percent, as the building services

business sees its first-half profit more than double on the previous year, as

revenues soar 71 percent, with St Helens Capital repeating its 'buy'

recommendation.

St Helens says Northern Bear, through its 'buy and build' - acquisitional

growth - strategy, benefits from a diversified revenue model and has

substantially reduced its exposure to the new house build sector.

However, due to the challenging outlook and increased competition, the

broker cuts pretax profit forecasts for 2009 to 3.5 million pounds from 4.4

million, EPS to 13.1 pence from 15.9 pence, leading to a reduction in its target

price to 110 pence from 145 pence.

For more double click on

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



10:16GMT 17Nov2008-Internet retailer ASOS up, trading buoyant

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Shares in ASOS, the AIM-listed British Internet fashion retailer,

gain as much as 8.2 percent after reporting a 68 percent increase in first-half

pretax profit and buoyant current trading.

Bucking a gloomy retail sector trend in the UK, the company says its sales

in the first seven weeks of its second-half were up 104 percent.

David Stoddart, analyst at Altium Securities, retains his 'buy'

recommendation and year to end-March 2009 pretax profit forecast of 13.4 million

pounds.

'Despite the economic headwinds, it seems increasingly likely that ASOS will

exceed our sales forecasts for full year 2009,' he says.

To see story please click on

Reuters messaging rm://james.davey.reuters.com@reuters.net



10:17GMT 17Nov2008-Severfield Rowen up on update and Indian JV

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Shares in Severfield Rowen climb 1.3 percent, after the British

structural steel company reports an inline trading update and announces a joint

venture project in India, prompting FinnCap to repeat its 'buy' recommendation.

FinnCap says Severfield's trading update met with its expectations, while a

strong order book and new overseas opportunities in India and Abu Dhabi should

make up for the shortfall in the UK, where economic conditions in 2009 are

expected to be tough.

The broker says the company is focusing on cash generation and a reduction

in debt levels, while the maintenance of its 20 pence full-year dividend

represents an attractive yield of 12 percent.

For more double click on

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



10:09GMT 17Nov2008-German property firm Vivacon down on price target cut

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Shares in German real estate company Vivacon fall 10.3 percent to

3.47 euros, extending last week's slide and putting the stock at the top of the

losers in Frankfurt's small-cap index.

DZ Bank cuts its price target for the stock to 3 euros from 5 euros, saying

in a research note: 'Vivacon will have to continue to fight for liquidity and

cash flow as long as the market remains difficult.'

The note is in reaction to Vivacon's Q3 results last week. DZ Bank says the

company's interim financials and outlook are poor. Vivacon said it could no

longer confirm its previous full-year 2008 profit target.

Reuters Messaging rm://peter.starck.reuters.com@reuters.net



10:09GMT 17Nov2008-British drugmaker Shire falls ahead of R&D day

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Shares in British hyperactivity drug and gene therapy specialist Shire fall over 4 percent ahead of expected product updates from the company

at a research and development day scheduled for Tuesday.

'They're having an R&D day tomorrow ... and you could expect to see selling

before the R&D day,' says Panmure analyst Damian McNeela.

'What tends to happen at the R&D day, there's a whole raft of updates on

where drugs are in development, and it's a lot easier to adjust your model to

take stuff out than it is to readjust your model for an improvement, so

psychologically people generally tend to sell ahead.'

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



10:035GMT 17Nov2008-Premier rises on Mr Kipling sale talk

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Shares in Premier Foods rise 17.6 percent as The Sunday Telegraph

reports United Biscuits (UB) is interested in buying the group's Mr Kipling

Cakes Division.

Premier's chief executive, Robert Schofield, is understood to have rebuffed

private equity-owned UB, leaving the biscuit group weighing up a direct approach

to banks or shareholders.

'We think that Kipling is a useful illustration of the potential benefits to

Premier's valuation from disposing of a 'crown jewel',' says Investec analyst

Martin Deboo, who estimates the division could have a disposal value of about

200 million pounds.

'While this deal would almost certainly be dilutive, this would be more than

compensated by the benefits of increased covenant headroom.'

For more, click on

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



10:04GMT 17Nov2008-Accident Exchange drops 18 pct on warning

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Shares in Accident Exchange tumble 18 percent after the group,

which provides vehicle rental for parties involved in road traffic accidents,

warns on profits in an end-of-first-half trading update.

Accident Exchange says profitability for both the first-half and full year

to April 30, 2009 will be below market expectations as lower traffic volumes

have resulted in fewer road accidents.

Daniel Stewart & Company anticipates that it will be necessary to downgrade

its estimates for Accident Exchange by at least 20 percent for full year 2009,

with its adjusted pretax profit forecast currently 19.3 million pounds, and

consensus expectations for 20.5 million pounds.

Daniel Stewart says this is clearly a negative statement and is one that

reiterates many of the concerns raised by peer Helphire last week.

The broker says, however, that it does draw some comfort from news that

Accident Exchange's cash collection has been improving and that there has been

no breach of its banking covenants.

Daniel Stewart has its rating and target price for Accident Exchange under

review.

For more double click on

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



09:47GMT 17Nov2008-Bodycote falls on second-half warning

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Shares in engineering group Bodycote Plc fall 9.6

percent to 111.25 pence after it warns of a second half performance modestly

below its hopes and says it is halving a payout to shareholders from the sale of

its testing unit.

Numis Securities says the group's 30 percent exposure to the automotive and

truck industry is likely to lead to sharp volume declines, although the broker

expects aerospace, oil and gas and power generation to stay positive.

'Operational gearing remains high and we expect a significant impact on

profits,' Numis says.

For more, click on, company statement

Reuters Messaging:philip.waller.thomsonreuters.com@reuters.

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