UK MARKET TALK ROUNDUP: SHARES GAINING

Stocks on the rise in the UK today. Compiled by Dow Jones Newswires Markets Desk, markets.eu@dowjones.com Contact us in London. +44-20-7842-9464 Markettalk.eu@dowjones.com 0717 GMT [Dow Jones] JPMorgan Cazenove initiates Hikma Pharmaceuticals (HIK.LN) at overweight with 870p target, citing leading long-term growth and the potential for a near-term EPS beat. Notes Hikma's competitive advantages as the top local player in the Middle East & North Africa pharmaceutical market, which has shown sustainable growth of 14% per year between '05 and '09, well above 5%-7% global pharma market growth. JPM expects a substantial earnings beat in the company's H1'10 results and upgrades to '10 EPS, based on strong US generics sales. Shares +1.1% at 696p. (michele.maatouk@dowjones.com) 0701 GMT [Dow Jones] Seymour Pierce remains cautious on Punch Taverns (PUB.LN). In tone, the trading update is more positive than in the last 2 years, it says. However, "we do not believe that the underlying long-term trend has moved into the growth momentum that the business needs to provide sustainable growth in value for equity holders." Says debt remains a key concern. Rates at sell. Shares +2.2% at 66p. (michael.carolan@dowjones.com) Contact us in London. +44-20-7842-9288 Markettalk.eu@dowjones.com (END) Dow Jones Newswires July 06, 2010 03:17 ET (07:17 GMT)