PRTY.L Share News (PRTY)

London kicked on over the lunchtime session, with risers outnumbering fallers by four to one among FTSE 100 constituents.Wm Morrison leads the way after saying it is confident full year results will be ahead of its earlier expectations due to continuing customer growth and the successful implementation of its cost cutting plans. The group said the strong start to the year has been maintained through the second quarter. Investment analysts are already changing their full-year profit forecasts for the current financial year, with Charles Stanley and Cazenove both lifting their figures by 10%. Tesco and J Sainsbury are up in sympathy.Fashion retailer Next is left on the shelf, however, even after hot weather in June prompted it to bring forward its latest trading update by a week and to increase its profit estimate for this year by £30m. The high street giant reported total Next Retail sales in the 25 weeks to 18 July were up 1.4% excluding VAT, with like-for-like sales down by 1.9%. The market has latched on to the cautious tone of the group's outlook statement. "We expect consumers to continue to moderate their spending in the second half," the company said. Marks & Spencer eases in sympathy.Car catalyst provider Johnson Matthey expects second quarter results to be similar to those in the first quarter as the downturn in the car industry continues to hit demand for car catalysts. Water firm Severn Trent said trading has been in line with its expectations and prior guidance, though decline in consumption will hit revenues slightly. The group said the decline in consumption across its measured income base has continued at similar levels to 2008/09 and it estimates this will impact revenues by around £15-£20m the current financial year. London-based pub company Fuller's is another hot weather beneficiary with sales boosted by the sun in the 16 weeks to 18 July 2009. Like-for-like sales in its managed pubs and hotels increased by 2.9% in the period, though tenanted like for like profits were down 1%. The Fuller's Beer Company's own brewed beer volumes grew by 2%. Fellow pub group Enterprise Inns is on the slide, however, after Morgan Stanley advised its clients to steer clear of the stock. The US bank also advised keeping the barge pole handy for Punch Taverns and was generally gloomy about the sector's prospects.Spread betting firm IG Index saw profits surge 15% in the year, helped by organic growth and the acquisition of FXOnline Japan. Elsewhere in the betting industry things are not so bright. Shares in Playtech took a sharp dive after the online gaming technology developer said gross income in the second quarter was below that achieved in the prior three-month period. The news has hit gaming site operators William Hill, 888 Holdings and PartyGaming. William Hill sought to limit the damage by saying its joint venture with Playtech, William Hill Online, is 'making good progress during an extensive integration period and in difficult trading conditions'.Short leisure break specialist Holidaybreak is firmer after disclosing it had received a 98.5% take-up of its recent rights issue.Industrial services group Brammer expects sales, distribution and administration costs, at constant currency, to be around £6m lower in the first half and at least £12m lower for the full year. Shares in Advanced Power Components dropped after the electronic components group said it expects to report a pre-tax loss in the region of £500,000 in the full year ended 31 August.Architect Aukett Fitzroy Robinson believes it will report a "significantly worse" result for the year to 30 September 2009 than previously anticipated. The extent of the difference will depend on the length of suspension at its Russian project, where the developer of the project has asked Aukett to temporarily cease its work due to funding issues.Tool hire group Speedy Hire reports conditions in the construction sector may be starting to stabilise a little but overall it remains very cautious about short-term prospects.Shares in Celsis tumbled as the biotech warned its two core businesses have slowed down in the first three months of the current year.Toy racing car and train set maker Hornby has won the licence to develop and market a range of products associated with the London 2012 Olympic Games.Financial services software supplier Focus Solutions gained on news that it has signed an agreement with Mastek to provide a combined front and back-office solution to the global insurance market.