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BUZZ-Intertek: top FTSE riser as momentum trade continues

Wed, 29th Oct 2014 10:56

** Intertek tops FTSE 100, up by as much as4 pct and adding 14.2 pct since bottoming on Oct 16.

Chart: http://link.reuters.com/pup33w

** Traders cite Credit Suisse upgrade to "outperform" onsame day as catalyst for rise, with other brokers also soundingbullish.

** Bank rated at five stars for recommendation accuracy onIntertek, according to StarMine.

** JPM reiterates "overweight" in a note this morning, saystrading will improve in H2 2014 and into next year.

** Stock breaks through 50- and 100-day SMA butthinly-traded: 5-day average volumes 20 pct lower than 30-dayaverage.

** "There is momentum in the name, but the volumes have beenbelow par over the last 2 weeks, which suggests [the rise] isnot book-building," said a London-based trader.

(RM: alasdair.pal.thomsonreuters.com@reuters.net)

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