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08:35GMT 16Oct2008
First Quantum Minerals up after Q3 production results
Shares in First Quantum Minerals rise 2.8 percent, after third-quarter 2008 production results announced Wednesday afternoon which were a new record for the company, with total copper production for the quarter of 82,200 tonnes.
'The company is on track to achieve its stated target for the year of 310,000 tonnes; indeed if the present form is maintained it should achieve around 320,000 tonnes,' Teathers says in a note.
The broker, in order to take account of its current copper price forecast, which in the near term is 'very substantially' below the prices it was previously using, slashes its target price to 3,000 pence from 6,000.
'We do however expect prices to recover somewhat in 2010 and 2011 as China gets back on with its growth programme...,' says the broker, repeating its 'buy' recommendation on the company.
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08:28GMT 16Month2008-Vossloh up on share buy
back, guidance
Shares in German railway-equipment maker Vossloh advance 0.5 percent, making it the second-highest gainer on Frankfurt's slumping midcap index, as investor cheer Wednesday's announcement the company is to buy back up to 1.48 million of its own shares and confirmation of its 2008 guidance.
'We welcome the share buyback programme as we think that Vossloh is by far undervalued,' Merck Finck & Co analyst Carsten Kunold writes in a note.
Vossloh says the buyback programme is to start on Oct. 16, 2008 and will end no later than April 15, 2009.
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08:14GMT 16Oct2008
Suedzucker rises, still boosted by H1 figures
Shares in Europe's largest sugar producer, Germany's Suedzucker, rise 3.0 percent to top Frankfurt's midcap index, as Wednesday's half-year results continue to inspire investors' confidence in the company.
'The figures and the maintained or even slightly raised outlook prove the defensive nature of Suedzucker's business, which in the current environment clearly is a positive sign,' says Metzler analyst Alexander Schlipf.
The company hiked its sales guidance on Wednesday for the ongoing financial year by 200 million euros to 5.8 billion euros to 6.0 billion euros and confirmed its earnings guidance.
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08:10GMT 16Oct2008
Derwent London higher; UBS ups to 'buy'
Shares in Derwent London rise 2.5 percent as UBS ups its recommendation on the Central London-focused Real Estate Investment Trust (REIT) to 'buy' from 'sell'.
UBS says the recent 30 percent fall in the REIT's share price compensates for the increased economic uncertainty and it believes there is significant upside at this level.
The broker says, in its view, Derwent London has a significant development programme and considerable experience in running a value add business model.
As a result of the falling share price, UBS reduces its target price by 14 percent to 900 price.
Reuters Messaging rm://david.brett.reuters.com@reuters.net
08:05GMT 16October2008
TUI Travel slumps after takeover hopes dashed
TUI Travel Plc's shares fall 14.8 percent after Germany's TUI AG says it will not bid for the British tour operator in which it has a 51 percent stake.
Investec Securities analyst Joe Thomas says: 'After indicating on Monday that it was considering buying the 49 percent of TUI Travel that it does not own, TUI AG has said this morning that this is no longer the case.'
'However,' Thomas adds, 'we do not think that this signals the end of bid speculation altogether, noting that TUI AG retains the right to come back after six months, by which time the sale of its German shipping business will have completed. We continue to recommend buying shares in TUI Travel'.
TUI Travel was created last year from the tie-up of TUI AG's travel division and Britain's First Choice.
To see TUI AG's statement please click on
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Keywords: MARKETS EUROPE STOCKSNEWS
tf.TFN-Europe_newsdesk@thomson.com vjt COPYRIGHT Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
Stocks on the move Real-time Equity News
08:35GMT 16Oct2008
First Quantum Minerals up after Q3 production results
Shares in First Quantum Minerals rise 2.8 percent, after third-quarter 2008 production results announced Wednesday afternoon which were a new record for the company, with total copper production for the quarter of 82,200 tonnes.
'The company is on track to achieve its stated target for the year of 310,000 tonnes; indeed if the present form is maintained it should achieve around 320,000 tonnes,' Teathers says in a note.
The broker, in order to take account of its current copper price forecast, which in the near term is 'very substantially' below the prices it was previously using, slashes its target price to 3,000 pence from 6,000.
'We do however expect prices to recover somewhat in 2010 and 2011 as China gets back on with its growth programme...,' says the broker, repeating its 'buy' recommendation on the company.
For more double click on
Reuters Messaging rm://tricia.wright.reuters.com@reuters.net
08:28GMT 16Month2008-Vossloh up on share buy
back, guidance
Shares in German railway-equipment maker Vossloh advance 0.5 percent, making it the second-highest gainer on Frankfurt's slumping midcap index, as investor cheer Wednesday's announcement the company is to buy back up to 1.48 million of its own shares and confirmation of its 2008 guidance.
'We welcome the share buyback programme as we think that Vossloh is by far undervalued,' Merck Finck & Co analyst Carsten Kunold writes in a note.
Vossloh says the buyback programme is to start on Oct. 16, 2008 and will end no later than April 15, 2009.
For more double click on
Reuters Messaging rm://christoph.steitz.reuters.com@reuters.net
08:14GMT 16Oct2008
Suedzucker rises, still boosted by H1 figures
Shares in Europe's largest sugar producer, Germany's Suedzucker, rise 3.0 percent to top Frankfurt's midcap index, as Wednesday's half-year results continue to inspire investors' confidence in the company.
'The figures and the maintained or even slightly raised outlook prove the defensive nature of Suedzucker's business, which in the current environment clearly is a positive sign,' says Metzler analyst Alexander Schlipf.
The company hiked its sales guidance on Wednesday for the ongoing financial year by 200 million euros to 5.8 billion euros to 6.0 billion euros and confirmed its earnings guidance.
For more double click on
Reuters Messaging rm://christoph.steitz.reuters.com@reuters.net
08:10GMT 16Oct2008
Derwent London higher; UBS ups to 'buy'
Shares in Derwent London rise 2.5 percent as UBS ups its recommendation on the Central London-focused Real Estate Investment Trust (REIT) to 'buy' from 'sell'.
UBS says the recent 30 percent fall in the REIT's share price compensates for the increased economic uncertainty and it believes there is significant upside at this level.
The broker says, in its view, Derwent London has a significant development programme and considerable experience in running a value add business model.
As a result of the falling share price, UBS reduces its target price by 14 percent to 900 price.
Reuters Messaging rm://david.brett.reuters.com@reuters.net
08:05GMT 16October2008
TUI Travel slumps after takeover hopes dashed
TUI Travel Plc's shares fall 14.8 percent after Germany's TUI AG says it will not bid for the British tour operator in which it has a 51 percent stake.
Investec Securities analyst Joe Thomas says: 'After indicating on Monday that it was considering buying the 49 percent of TUI Travel that it does not own, TUI AG has said this morning that this is no longer the case.'
'However,' Thomas adds, 'we do not think that this signals the end of bid speculation altogether, noting that TUI AG retains the right to come back after six months, by which time the sale of its German shipping business will have completed. We continue to recommend buying shares in TUI Travel'.
TUI Travel was created last year from the tie-up of TUI AG's travel division and Britain's First Choice.
To see TUI AG's statement please click on
Reuters messaging rm://dan.lalor.reuters.com@reuters.net
Keywords: MARKETS EUROPE STOCKSNEWS
tf.TFN-Europe_newsdesk@thomson.com vjt COPYRIGHT Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.