Having spurned the unwanted attentions of Royal & Sun Alliance, Aviva has produced a moderately positive set of third-quarter numbers which suggest that Aviva was right to resist its rival's rather ill-judged attempt to push it into selling its general insurance business. On valuation grounds, Aviva, which is increasing sales, still trades at a modest discount to the value of its existing policies, so the shares are not overpriced. But nor are they a screaming bargain. Hold, then, in the hope the targets are met suggests the Independent.Broker Nomura has Aviva on a price-earnings ratio, adjusted for the appropriate insurance accounting measures, of about seven, which is low for the sector. A more focused approach should mean the shares have further to go adds the Times.Reckitt Benckiser, the consumer-goods giant, unveiled a mixed set of third-quarter numbers yesterday. The maker of the toilet cleaner Harpic showed an uplift in margins, boosted by its continuing cost-cutting measures. However, Reckitt suffered flat revenues in Europe, in part, thanks to increased competition for Vanish and damp sales of its water softeners and laundry detergents. Furthermore, after investors marked up Reckitt's shares yesterday, they now trade on a 2011 multiple of 16.3 times forecast earnings. Hold says the Independent.Buses traditionally have held up well in hard times as a cheap form of travel. Revenue across Stagecoach's bus services over the summer was up 2.3 per cent. The stand-out performer was Virgin Rail, in which Stagecoach has a 49% stake. Long-term, uncertainties remain. As with any business reliant on the consumer, there is the possibility that they will balk at higher and higher prices, while rising unemployment will inevitably drag down demand. High enough for now says the Times.Investors in Rightmove, the property website, have enjoyed a share price performance since the depths of last year's housing malaise that is nothing short of stellar. From less than 160p in January 2009, the recovery in the market and Rightmove's ongoing dominance of the sector has seen a relentless rise to well over 700p. Everything looks good, but on a price of 22.1 times estimated full-year earnings, Rightmove is hardly cheap. Hold says the Independent.Davis Service provides work uniforms, towels and soap dispensers for workplace washrooms, linen and sheets for hotels and hospitals and? this is apparently a significant business area ? doormats for factories, shops and offices. The group has £500m of debt but throws off huge amounts of cash. The shares yield 5% and are on about 10.5 times this year's earnings. Worth tucking away for the long term says the Times.Airline Ryanair trades on a March 2011 earnings multiple of 16 times, falling to 11.4 in 2012. The company has entered a very cash-generative phase in its business cycle, but investors should not expect any more special dividends for a couple of years at least. Buy says the Telegraph.Pump maker Weir's latest quarter has been particularly strong in oil and gas. Order input in the year to date has risen 91%, compared with 47% at the interim stage. Orders were particularly strong in the downstream sector, which is refining and distribution. Weir shares are trading on a December 2010 earnings multiple of 16 times, falling to 14.7 next year. Buy says the Telegraph.Please note: Digital Look provides a round-up of news, tips and information that is impacting share prices and the market. Digital Look cannot take any responsibility for information provided by third parties. This is for your general information only as not intended to be relied upon by users in making an investment decision or any other decision. Please obtain a copy of the relevant publication and carry out your own research before considering acting on any of this information.
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