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Stocks on the move Real-time Equity News
1200GMT 11March2009
Pace higher after RBS ups target
Shares in British TV technologies company Pace are up 3.3 percent after RBS raises its price target on the group to 103 pence from 52 pence, while reiterating its 'buy' recommendation.
'The set-top box industry is at the heart of an evolution in the pay TV sector where medium-term growth should be supported by growing subscriber numbers, technology upgrades and the move to digital broadcasting,' RBS writes in a note.
'Importantly, Pace is well-positioned to capitalise on these trends, which underpins our expectations for continued strong growth in profits.'
Reuters Messaging rm://martina.fuchs.reuters.com@reuters.net
12:05GMT 11March2009
FTSE Small Caps up 0.4 percent at midday
The FTSC Small Cap index rises 0.4 percent in mid-session trade, outperforming London's blue chip index, which slides 0.5 percent, while the FTSE 250 climbs 0.7 percent.
Laird soars 33.6 percent as the British electronics group says it has seen no further deterioration in revenues so far this year, with FinnCap repeating its strong 'buy' rating, saying it's important the company maintained its final dividend of 7.88 pence.
Regional newspaper publisher Johnston Press plunges 26 percent after the group says its advertising revenues slumped 36 percent in the first nine weeks of 2009 and concerns it could breach its banking covenants, prompting Numis to keep its 'reduce' rating.
Reuters Messaging rm://david.brett.reuters.com@reuters.net
12:06GMT 11March2009
Renishaw down; warns on H2 losses
Shares in Renishaw fall 21.7 percent after the British precision engineer warns of second half operating losses as monthly revenue continue to deteriorate, prompting WH Ireland to place its earnings forecasts under review and cuts its rating to 'underperform' from 'marketperform'.
'The impact of recession has been much greater than we previously imagined. We will be cutting back our earnings estimates severely as a result,' the broker says in a note.
WH Ireland expects to slash pretax profit forecasts to around 5.0 million pounds from 30.5 million pounds for full-year 2009 and to break-even from 22.8 million pounds for full-year 2010.
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COPYRIGHT Copyright Thomson Reuters 2009. 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
1200GMT 11March2009
Pace higher after RBS ups target
Shares in British TV technologies company Pace are up 3.3 percent after RBS raises its price target on the group to 103 pence from 52 pence, while reiterating its 'buy' recommendation.
'The set-top box industry is at the heart of an evolution in the pay TV sector where medium-term growth should be supported by growing subscriber numbers, technology upgrades and the move to digital broadcasting,' RBS writes in a note.
'Importantly, Pace is well-positioned to capitalise on these trends, which underpins our expectations for continued strong growth in profits.'
Reuters Messaging rm://martina.fuchs.reuters.com@reuters.net
12:05GMT 11March2009
FTSE Small Caps up 0.4 percent at midday
The FTSC Small Cap index rises 0.4 percent in mid-session trade, outperforming London's blue chip index, which slides 0.5 percent, while the FTSE 250 climbs 0.7 percent.
Laird soars 33.6 percent as the British electronics group says it has seen no further deterioration in revenues so far this year, with FinnCap repeating its strong 'buy' rating, saying it's important the company maintained its final dividend of 7.88 pence.
Regional newspaper publisher Johnston Press plunges 26 percent after the group says its advertising revenues slumped 36 percent in the first nine weeks of 2009 and concerns it could breach its banking covenants, prompting Numis to keep its 'reduce' rating.
Reuters Messaging rm://david.brett.reuters.com@reuters.net
12:06GMT 11March2009
Renishaw down; warns on H2 losses
Shares in Renishaw fall 21.7 percent after the British precision engineer warns of second half operating losses as monthly revenue continue to deteriorate, prompting WH Ireland to place its earnings forecasts under review and cuts its rating to 'underperform' from 'marketperform'.
'The impact of recession has been much greater than we previously imagined. We will be cutting back our earnings estimates severely as a result,' the broker says in a note.
WH Ireland expects to slash pretax profit forecasts to around 5.0 million pounds from 30.5 million pounds for full-year 2009 and to break-even from 22.8 million pounds for full-year 2010.
For more double click on
Reuters Messaging rm://david.brett.reuters.com@reuters.net
COPYRIGHT Copyright Thomson Reuters 2009. 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.
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