FinanzNachrichten.de, 20.11.2008 11:59:00
Glance-STOCKS NEWS EUROPE-RBS jumps 8.3 pct ahead of rescue plan vote
STOCKS NEWS Reuters Results diary
Stocks on the move Real-time Equity News
10:42GMT 20Nov2008-RBS jumps 8.3 pct ahead of rescue plan vote
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Shares in Royal Bank of Scotland jump 8.3 percent on positive
sentiment ahead of a shareholder vote to approve a plan to raise capital from
the UK government.
Shareholders are expected to approve the plan after 96 percent of investors
at rival Lloyds TSB on Wednesday backed its part in the government
rescue plan.
'There's a bit of conjecture in-line with the Lloyds yes vote that
(RBS) shareholders will seek to approve capital raising backed by HM Treasury,'
a trader says.
'The market expects a good outcome,' he adds.
Reuters Messaging rm://nicholas.vinocur.reuters.com@reuters.net
10:34GMT 20Nov2008-Best of the Best hit by passenger slowdown
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Shares in Best of the Best, which sells raffle tickets to win
luxury cars in airports, fall almost 11 percent on news that its business to Oct
31, 2008 has been hit by a slowdown in passenger numbers at UK airports,
prompting Charles Stanley to cuts its rating to 'hold' from 'add'.
Charles Stanley says following the pre-close trading update it is reducing
its full year revenue forecast to 7.4 million pounds from 8 million pounds,
while its pretax profit forecast falls to 0.5 million ponds from 1 million
pounds.
The broker says while on-line sales, which account for 25 percent of
revenues, have held up reasonably well, full year profits are now expected to be
below expectations.
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10:25GMT 20Nov2008-Sacyr climbs on Repsol stake sale talk
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Shares in Sacyr Vallehermoso climb 4.8 percent, boosted by talk
that it could sell its 20 percent stake in Repsol YPF to Russian oil
company Lukoil at close to the 26.6 euros it paid to buy the stake.
A spokesman from Repsol has denied that the company is in talks with Lukoil,
while a Sacyr spokeswoman reiterated that the company continues to study the
possible sale of its stake in Repsol and has been in talks with potential
buyers.
'There's no doubt that someone is interested in buying it, although it's
hard to believe they could get that price,' a Madrid-based trader says.
Banesto Bolsa analysts say: 'We think such a deal is complicated for
political reasons and because Lukoil has its own financial problems; a new loan
for this deal would be difficult in this environment, although they do have the
Russian government behind them.'
Repsol shares gain 1.8 percent.
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rm://robert.hetz.reuters.com@reuters.net
10:17GMT 20Nov2008-REpower falls as Suzlon drops takeover plans
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Shares in REpower fall 15.6 percent making it the sharpest
decliner among German technology stocks after the head of Indian wind
turbine maker Suzlon Energy told a newspaper that his company is
breaking off plans to completely take over its German peer.
'We will no longer pursue the goal of a controlling agreement,' Suzlon CEO
Tulsi Tanit told the Financial Times Deutschland.
'The article is curbing speculation that Suzlon is aiming for an even higher
stake in REpower,' a Frankfurt-based trader says.
Suzlon earlier postponed the purchase of a 22.48 percent stake in REpower
owned by Portugal's Martifer, but most recently said it was on track
to buy the stake in 2009.
Currently Suzlon holds around 66 percent of REpower's voting rights.
Reuters Messaging rm://tyler.sitte.reuters.com@reuters.net
10:11GMT 20Nov2008-Scapa down as H1 profit falls
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Shares in Scapa Group fall 2.7 percent as the technical adhesive
tapes supplier reports a 25 percent drop in its first-half pretax profit and
says second-half sales to date are down almost 10 percent from last year.
Brewin Dolphin cuts its recommendation to 'hold' from 'buy' and reduces its
target price to 20 pence from 42 pence, noting that Scapa, along with most
industrial companies, is set to face increasingly difficult markets in coming
months.
However, the broker says it feels the company's management team can create
long term value.
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10:11GMT 20Nov2008-Alphameric up; Investec repeats 'buy'
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Shares in Alphameric, the provider of end-to-end technology for the
UK and Ireland gaming market, rise 11.1 percent as Investec Securities repeats
its 'buy' rating and 33 pence target price.
Investec says clearly the continuing legal battle between the bookmakers and
Alphameric's joint venture, AMRAC, is a negative. However, the most recent
ruling, the Court ordered that AMRAC make a payment to Satellite Information
Services (SIS) of 900,000 pounds, was expected.
Despite this, the broker continues to see value in the shares based on the
strong cash position and potential for AMRAC.
Reuters Messaging rm://david.brett.reuters.com@reuters.net
09:49GMT 20Nov2008-Umicore hits 4-year low after profit warning
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Shares in Belgian metals and specialty materials maker Umicore fall
13.4 percent to a four-year low after the company issues a profit warning late
on Wednesday due to the downturn in the automotive market.
Umicore is one of the world's top three makers of catalysts for cars, a
business that represents about 25 percent of sales.
Shares are off 12.8 percent at 10.47 euros at 0935 GMT, having hit 10.415
euros, compared with the 2.3 percent fall of the DJ Stoxx European chemicals
index.
The profit warning prompts brokers Bank Degroof, ING and KBC Securities all
to cut their price targets for Umicore shares.
'The catalyst business should enjoy growth higher than that of the
automotive sector as a whole, but conditions are exceptional now, with
destocking and production cuts in the auto industry,' said ING analyst Arnaud
Goossens.
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09:31GMT 20Nov2008-UK asset managers drop; UBS starts coverage
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Shares in UK asset management groups drop, suffering with falls in global
stock markets and as UBS starts coverage on the sector with a 'neutral' stance,
but a preference for the alternative managers over the traditional managers.
Mid cap BlueBay Asset Management sheds 12.2 percent, as UBS starts
with 'sell' rating on valuation grounds and a target of 130 pence.
Blue chip Schroders down 8.2 percent as UBS starts it with a
'neutral' rating and 825 pence price target.
Ashmore Group shares lose 3.3 percent and Henderson Group
falls 6 percent as UBS starts both with 'neutral'.
The broker, however, starts hedge fund manager Man Group, down 3.7
percent, with a 'buy' rating and 135 pence target.
Reuters Messaging rm://jon.hopkins.reuters.com@reuters.net
09:27GMT 20Nov2008-Mothercare up on H1s; WH Ireland 'outperform'
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Shares in Mothercare, the maternity and baby goods retailer, climb
4.6 percent after the company doubles its pretax profits for the first-half to
9.5 million pounds, leading WH Ireland to repeat its 'outperform' rating.
WH Ireland says the interims, which have come in marginally ahead of its
expectations, have been driven by its performance internationally, adding that
it expects to maintain its current full-year forecasts.
The broker says the positioning of the group should serve it well through
this turbulent period and while investors may experience volatility in the
short-term, the current year price earnings of 9.0 times is attractive.
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