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Stocks on the move Real-time Equity News
15:05GMT 01Dec2008
Deutsche Wohnen up; seen as safe haven
Shares in German residential real estate company Deutsche Wohnen rise 9.3 percent, topping Germany's smallcap index, as the company is seen as a safe investment following last week's better-than-expected third-quarter results.
'In the current environment, the shares could be seen as a safe-haven investment,' a local trader says, adding that the shares have also suffered in the past year.
Deutsche Wohnen last week released strong results and hiked its full-year earnings forecast, expecting earnings before interest, tax, depreciation and amortisation of 120 million euros.
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14:31GMT 01Dec2008
Moss Bros falls on profit warning
Shares in Moss Bros slide 12 percent to 16.75 pence after the men's fashion retailer warns on its full-year profit, saying like-for-like sales for the 44 weeks to Nov. 29 fell 3.6 percent and that recent trading has been dire.
'Sales declines have accelerated but it is scant consolation that Moss Bros appears to be outperforming its market ... We believe that, for the most recent month or so, like-for-like sales have been around 10 percent down on last year's level,' says Altium analyst David Stoddart, who cuts his annual pretax profit forecast for the group to a pretax loss of 5 million pounds from a loss of 1 million pounds.
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14:10GMT 01Dec2008
Land of Leather up on bid talk
Shares in Land of Leather soar 50 percent to 9.75 pence after the struggling furniture retailer says it has received approaches which could lead to an offer for the business.
Traders say the sofa chain, which has no debt, is being eyed by the Stancroft Trust, owned by Nicholas Berry, the millionaire son of former Daily Telegraph proprietor Michael Berry, and buyout business Sun European, which owns rival furniture retailer ScS Upholstery.
'Talk in the market is about bids coming from Sun Europe and the Stancroft Trust, which has a decent sized stake in ScS and Land of Leather and is known to be keen on combining the two businesses,' traders at KBC Peel Hunt say.
'Land of Leather's market cap was 2.3 million pounds on Friday but now, since it has no debt, it is worth more like 6.8 million pounds, which equates to about 20 pence per share and there's a feeling that's the sort of level a bid would come in at,' they says.
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14:13 GMT 01Dec2008
Luxury group STDupont up after swings to profit
Shares of STDupont gain 9.5 percent in a downward market after the French maker of luxury lighters and pens says it has returned to profitability in the first half to September.
'Visibility on the company's outlook was quite poor, so these numbers are a good surprise on the upside, something that we don't see quite often these days,' says one trader.
The stock has lost about 45 percent since the beginning of the year.
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14:02 GMT 01Dec2008
JJB down as lender drafts in Grant Thornton
Shares in British sports retailer JJB Sports fall 15.4 percent to 22 pence on growing concerns about its future after a report in The Sunday Telegraph newspaper says Barclays Bank, which has lent JJB about 60 million pounds, has appointed Grant Thornton to advise it on JJB's future business plans.
An industry source confirms the validity of the report.
'This is not encouraging news,' Altium analysts say in a note. But they say it is offset by more positive stories -- Friday's development that rival JD Sports Fashion was mulling a bid for JJB and Monday's confirmation that JJB has raised 3.4 million pounds by selling four store leases to Sports Direct International.
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13:55GMT 01Dec2008
Vyke up after distribution agreement
Shares in Vyke Communications add 6.7 percent after the mobile Voice over Internet Protocol (VoIP) service provider signs a deal with Hong Kong-based DEEN(HK) for the large scale distribution of the Vyke product suite across Asia.
FinnCap notes that Vyke will be able to leverage DEEN's strong distribution channels to expand across these regions and will, furthermore, gain access to DEEN's direct sales channels to target enterprise customers for VoIP services.
The broker says this should be profitable for Vyke as its customer acquisition costs are low and revenues per customer are typically higher than for the consumer segment.
FinnCap repeats its 'buy' rating and near-term price target of 56 pence on Vyke based on a fair value estimate of 85 pence.
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13:50GMT 01Dec2008
Zetar drops on Woolworths exposure
Shares in Zetar shed 6.2 percent as the snack foods manufacturer confirms press reports that its confectionery division will be impacted by the demise of retailer Woolworths, which went into administration last week.
Zetar says Woolworths business represents around 3 percent of its turnover, and adds it is unclear how much of the sum outstanding to date from the collapsed retailer, totaling around 970,000 pounds, is irrecoverable.
In reaction, Shore Capital cuts its rating for Zetar to 'sell' from 'hold' as it now has concerns that with the sales momentum lost by the Woolworths collapse and a gloomy consumer outlook for next year there may be yet worse news to come from the group.
The broker says it considers it prudent to factor in a loss of the full amount outstanding from Woolworths and has therefore reduced its 2009 pretax profit forecast for Zetar by 16 percent to 5.1 million pounds.
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COPYRIGHT Copyright Thomson Reuters 2008. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Stocks on the move Real-time Equity News
15:05GMT 01Dec2008
Deutsche Wohnen up; seen as safe haven
Shares in German residential real estate company Deutsche Wohnen rise 9.3 percent, topping Germany's smallcap index, as the company is seen as a safe investment following last week's better-than-expected third-quarter results.
'In the current environment, the shares could be seen as a safe-haven investment,' a local trader says, adding that the shares have also suffered in the past year.
Deutsche Wohnen last week released strong results and hiked its full-year earnings forecast, expecting earnings before interest, tax, depreciation and amortisation of 120 million euros.
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Reuters Messaging rm://christoph.steitz.reuters.com@reuters.net
14:31GMT 01Dec2008
Moss Bros falls on profit warning
Shares in Moss Bros slide 12 percent to 16.75 pence after the men's fashion retailer warns on its full-year profit, saying like-for-like sales for the 44 weeks to Nov. 29 fell 3.6 percent and that recent trading has been dire.
'Sales declines have accelerated but it is scant consolation that Moss Bros appears to be outperforming its market ... We believe that, for the most recent month or so, like-for-like sales have been around 10 percent down on last year's level,' says Altium analyst David Stoddart, who cuts his annual pretax profit forecast for the group to a pretax loss of 5 million pounds from a loss of 1 million pounds.
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Reuters messaging rm://rhysl.jones.reuters.com@reuters.net
14:10GMT 01Dec2008
Land of Leather up on bid talk
Shares in Land of Leather soar 50 percent to 9.75 pence after the struggling furniture retailer says it has received approaches which could lead to an offer for the business.
Traders say the sofa chain, which has no debt, is being eyed by the Stancroft Trust, owned by Nicholas Berry, the millionaire son of former Daily Telegraph proprietor Michael Berry, and buyout business Sun European, which owns rival furniture retailer ScS Upholstery.
'Talk in the market is about bids coming from Sun Europe and the Stancroft Trust, which has a decent sized stake in ScS and Land of Leather and is known to be keen on combining the two businesses,' traders at KBC Peel Hunt say.
'Land of Leather's market cap was 2.3 million pounds on Friday but now, since it has no debt, it is worth more like 6.8 million pounds, which equates to about 20 pence per share and there's a feeling that's the sort of level a bid would come in at,' they says.
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14:13 GMT 01Dec2008
Luxury group STDupont up after swings to profit
Shares of STDupont gain 9.5 percent in a downward market after the French maker of luxury lighters and pens says it has returned to profitability in the first half to September.
'Visibility on the company's outlook was quite poor, so these numbers are a good surprise on the upside, something that we don't see quite often these days,' says one trader.
The stock has lost about 45 percent since the beginning of the year.
Reuters Messaging rm://astrid.wendlandt.reuters.com@reuters.net
14:02 GMT 01Dec2008
JJB down as lender drafts in Grant Thornton
Shares in British sports retailer JJB Sports fall 15.4 percent to 22 pence on growing concerns about its future after a report in The Sunday Telegraph newspaper says Barclays Bank, which has lent JJB about 60 million pounds, has appointed Grant Thornton to advise it on JJB's future business plans.
An industry source confirms the validity of the report.
'This is not encouraging news,' Altium analysts say in a note. But they say it is offset by more positive stories -- Friday's development that rival JD Sports Fashion was mulling a bid for JJB and Monday's confirmation that JJB has raised 3.4 million pounds by selling four store leases to Sports Direct International.
Reuters Messaging rm://james.davey.reuters.com@reuters.net
13:55GMT 01Dec2008
Vyke up after distribution agreement
Shares in Vyke Communications add 6.7 percent after the mobile Voice over Internet Protocol (VoIP) service provider signs a deal with Hong Kong-based DEEN(HK) for the large scale distribution of the Vyke product suite across Asia.
FinnCap notes that Vyke will be able to leverage DEEN's strong distribution channels to expand across these regions and will, furthermore, gain access to DEEN's direct sales channels to target enterprise customers for VoIP services.
The broker says this should be profitable for Vyke as its customer acquisition costs are low and revenues per customer are typically higher than for the consumer segment.
FinnCap repeats its 'buy' rating and near-term price target of 56 pence on Vyke based on a fair value estimate of 85 pence.
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13:50GMT 01Dec2008
Zetar drops on Woolworths exposure
Shares in Zetar shed 6.2 percent as the snack foods manufacturer confirms press reports that its confectionery division will be impacted by the demise of retailer Woolworths, which went into administration last week.
Zetar says Woolworths business represents around 3 percent of its turnover, and adds it is unclear how much of the sum outstanding to date from the collapsed retailer, totaling around 970,000 pounds, is irrecoverable.
In reaction, Shore Capital cuts its rating for Zetar to 'sell' from 'hold' as it now has concerns that with the sales momentum lost by the Woolworths collapse and a gloomy consumer outlook for next year there may be yet worse news to come from the group.
The broker says it considers it prudent to factor in a loss of the full amount outstanding from Woolworths and has therefore reduced its 2009 pretax profit forecast for Zetar by 16 percent to 5.1 million pounds.
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COPYRIGHT Copyright Thomson Reuters 2008. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.