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 0910 GMT [Dow Jones] Debenhams' (DEB.LN) 3Q trading update is disappointing, says Panmure Gordon. "A LFL sales decline of 1.5% for the first 16 weeks of 2H '10E compares with our expectation of 0.2%-0.3% LFL sales growth." Notes the company reports market share gains in men's and children's clothing, but not in the all-important womenswear battleground. Panmure prefers to recommended buying Next (NXT.LN) or Marks & Spencer (MKS.LN) shares. Places its hold recommendation and 68p price target under review. Shares +2.7% at 54p. (michele.maatouk@dowjones.com) 0752 GMT [Dow Jones] Jefferies starts Consort Medical (CSRT.LN) at buy with a 525p target. Says Consort's Bespak business now has a much broader product pipeline, while the restructuring of the King Systems business should bear fruit. In addition to this, expects Consort to continue to be on the acquisition trail as management is keen to add a third arm to the business. Finally, says the valuation is attractive and there are positive catalysts ahead. Shares +1.2% at 385p. (andrea.tryphonides@dowjones.com) 0711 GMT [Dow Jones] Tate & Lyle'S (TATE.LN) decision to sell its EU sugar refining operations is not a surprise with the sugar business becoming increasingly non core says Shore Capital. Thinks the deal makes sense for Tate, increasing focus within the group, while reducing debt/EBITDA to about 1.2x. Says this will therefore provide fire power for acquisitions. But, trading on a '11 PER of 11x, an EV/EBITDA of 6x and with dividend yield support of 5.1%, thinks Tate is fairly valued, particularly given the ongoing lack of visibility within the group's operations. Keeps at hold. Shares +0.7% at 453p. (andrea.tryphonides@dowjones.com) Contact us in London. +44-20-7842-9288 Markettalk.eu@dowjones.com (END) Dow Jones Newswires July 01, 2010 05:10 ET (09:10 GMT)