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Mon, 9th Nov 2009 15:14

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14:57GMT 09Nov2009-Rambler Metal up on Red Hot tip

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Shares in Rambler Metals rise by more than 13 percent along with other miners benefiting from higher gold and copper prices and a tip in Red Hot Penny Shares which said its Ming mine should go into production by the end of 2010.

'We think it's on the back of a tip off in the private investor magazine Red Hot Penny Shares,' says Asa Bridle, an analyst with Seymour Pierce. 'I think private clients are acting on the back of advice there, as they have recommended it as a 'Buy'.'

'The fundamentals are strong for these guys, copper prices are holding on well and gold prices are doing well, so it's a nicely placed stock,' Bridle says.

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Reuters messaging rm://sharon.lindores.reuters.com@reuters.net



13:05GMT 09Nov2009-Game up; Seymour Pierce says 'buy'

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Shares in Game Group, the specialist video game retailer, rise 3 percent as Seymour Pierce repeats its 'buy' rating on valuation grounds and says the company could be a potential target for U.S. peer GameStop.

'Game Group is, in our view, a likely target for GameStop, which is more highly rated, 7 times larger in market capitalization terms and has little overlap with Game Group in Europe,' says the broker.

Seymour Pierce also notes the stock has underperformed the market by almost 30 percent over the last year, and says it 'is too lowly rated on our forecasts at 6.9 times 2009/10 estimates and a dividend, well covered, yielding almost 4 times'.

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



12:29GMT 09Nov2009-Hiscox, Beazley gain after updates

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Shares in London-listed insurers Hiscox and Beazley gain 2.8 percent and 1.6 percent, respectively, after the firms issue trading updates, with RBS repeating its 'buy' ratings on both stocks.

Bermuda-based Hiscox and Lloyd's of London's Beazley both post strong rises in premium income for the first nine months of the year and say they have seen stable or increased rates over the period.

'Hiscox's IMS (interim management statement) should boost the shares and underpin our expectation of a very strong return in FY09, followed by a lower, but still good return in 2010,' RBS says in a note.

The broker says the outlook may be for flat rates at best for next year, but the group's specialist focus should enable it to find profitable growth.



12:21GMT 09Nov2009-UK small caps gain 0.5 pct midday

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The FTSE Small Cap index gains 0.5 percent in midday trade, underperforming both the blue chips and the midcaps, which rise 1.4 percent and 1.3 percent, respectively.

Devro gains 5.4 percent after the sausage-skin maker says it expects to post a profit for the full year ahead of market forecasts, prompting Investec to increase its earnings forecasts and repeat its 'buy' rating.

Inspired Gaming tumbles nearly 33 percent as investors desert the stock after the company proposes a share capital reorganisation, which Hoodless Brennan says offers little attraction for ordinary shareholders, and therefore keeps its 'sell' rating.

Reuters Messaging rm://tricia.wright1.reuters.com@reuters.net



10:26GMT 09Nov2009-Inmarsat rises on strong Q3 earnings

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Shares in Inmarsat soar as much as 6.6 percent to a four-year high, after the satellite communications firm posts better-than-expected earnings for the third quarter, driven by strong demand for broadband services on ships.

'Q3 results are excellent, with core revenues up 8.7 percent year-on-year and EBITDA a frankly astonishing 9.3 percent higher than consensus,' says Investec analyst Jonathan Groocock, who than consensus,' says Investec analyst Jonathan Groocock, who expects to raise his group bottom-line forecast by about 10 percent.

Shares are up 4.96 percent to 624 pence, the biggest gainer on the FTSE 100.

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



10:06GMT 09Nov2009-Pru rises on Axa, Allianz cheer

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Shares in Britain's largest insurer Prudential rise as much as 5.4 percent to 609 pence, the second biggest gainer on the FTSE 100, on AXA's decision to buy out its Asian assets and forecast beating earnings from Europe's largest insurer Allianz.

One trader says Axa's move: 'underlies the value of Prudential's own Asian businesses'.

Shares in Prudential are up 4.2 percent, and Allianz stock are up 4.7 percent while shares in Paris-based Axa are down 1.3 percent as its plans for a 2 billion euro ($3 billion) rights issue took the shine off the shares.

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Reuters Messaging rm://clara.ferreira-marques.reuters.com@reuters.net



09:38GMT 09Nov2009-Barclays, HSBC nudge up, Q3 seen strong

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Barclays and HSBC shares nudge higher, aided by optimism Britain's top two banks will join rivals in unveiling strong investment banking to power robust trading updates on Tuesday.

Barclays said last week that Q3 profit 'was consistent with the run rate' for the first half of the year, pointing to a quarterly profit of about 1.5 billion pounds.

JPMorgan forecasts Barclays Capital will report 'clean revenues' of 4.4 billion pounds in Q3, down from 5.5 billion in the previous quarter but 'still strong'.

HSBC had record investment banking profits in the first-half and should also benefit from firm capital markets activity. The main focus of its Q3 trading update, however, will be trends in its U.S. bad debts, and Credit Suisse analysts predict they will peak in H2. HSBC could see about $3 billion of negative fair value on the value of its own debt in Q3.

Barclays releases its update at 0700 GMT and HSBC will be around 0815 GMT.

Barclays shares rise 2.6 percent to 345.1 pence and HSBC adds 0.5 percent to 686.4p, alongside a 1.5 percent rise by the DJ STOXX European bank index . Barclays is up 7 percent this month and HSBC has added 2 percent, while the index has gained 3 percent.

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Reuters Messaging rm://steve.slater.reuters.com@reuters.net



08:45GMT 09Nov2009-IMI jumps on earnings upgrade

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IMI shares jump 11 percent to a 14-month high of 510 pence after the British manufacturer says it will beat 2009 earnings expectations, boosting by switching more production to cheaper economies and lower metal prices.

Citi analysts raise their 2009 earnings per share forecast by 10 percent to 41.6 pence, not including a one-off pension gain of 2 pence.

'IMI is on an unchallenging P/E (price to earnings ratio) of 11 time 2009 estimates ... versus a 20-year average P/E of 12 times, implying no EPS growth from here. This looks an overly conservative valuation and we reiterate our 'Buy' rating,' they say in a research note.

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Reuters Messaging: rm://mark.potter.reuters.com@reuters.net



08:23GMT 09Nov2009-Cadbury edges up ahead of Kraft deadline

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Cadbury shares edge up 0.5 percent to 761-1/2 pence in early trade as the 1700 GMT Monday deadline approaches for Kraft to make its formal takeover bid for the British confectionery group or walk away for six months.

Kraft made its initial cash and shares approach for Cadbury at 745p a share, or 10.2 billion pounds, in early September, but the fall in Kraft shares and the dollar now make the offer currently worth 714p.

'We expect Kraft to formalise its bid today, but few expect a knockout bid and this battle could go on well into 2010,' said one analyst.

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

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