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09:10GMT 18Nov2009
Ladbrokes higher as BoA/Merrill upgrades
Shares in bookmaker Ladbrokes rise as much as 5.5 percent to 134 pence, hitting a four-week high, after Bank of America-Merrill Lynch upgrades the stock to 'buy' from 'underperform' and raises its price target to 160 pence from 140 previously.
The broker says the worst news is over after a run of punter-friendly football results impacted margins, causing the stock to hit an all-time low.
'Since the last trading update football results have normalised. The proportion of draws has risen through the season which should lead to a normalisation of margins,' say BoA/Merrill analysts in a research note.
Rival William Hill gains 1.6 percent to 190.3 pence.
Reuters messaging rm://matthew.scuffham.reuters.com@reuters.net
08:31GMT 18Nov2009-Cadbury up on hopes of Hershey
Ferrero rival bid
Cadbury shares rise as much as 1.8 percent on hopes chocolate makers Hershey Co and Ferrero SpA will mount a joint bid for he British confectioner, which could help it fend off a hostile takeover by Kraft Foods Inc . Analysts said they were unlikely to rush into any move, however.
A source familiar with the talks between U.S.-based Hershey and Italy's Ferrero told Reuters on Tuesday that discussions between the two sides were at a preliminary stage, giving the strongest signal yet of a possible rival bid to Kraft's $16.7 billion offer, which Cadbury has rejected as 'derisory'.
'A combination of Hershey and Nestle was initially talked about and Ferrero has been mentioned this week so perhaps they have got together, which would probably be good news for Cadbury, but it could be wishful thinking,' said FinnCap analyst Charles Pick.
'But there could be something in it and if there is they (Hershey and Ferrero) would have plenty of time and could just wait and see how events unfold and look at the offer document when it's released.'
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Reuters messaging rm://rhysl.jones.reuters.com@reuters.net
08:24 GMT 18Nov2009
FTSE small caps up 0.2 pct at the open
The FTSE Small Cap Index gains 0.2 percent in early trade, taking its cue from London's blue chips which also add 0.2 percent, while the FTSE 250 rises 0.4 percent.
Building-maintenance firm Rok Plc rises 6.4 percent, topping the small cap risers in early on, after the firm announces it has been awarded Preferred Bidder as part of consortium in Oldham Housing Project worth 130 million pounds.
British driving services firm Trafficmaster Plc falls 1.6 percent after the company reports a fall in consumer services revenues and decreased visibility over the timing of future revenues for its business services division, but says it is on track to deliver a similar level of operating profit in 2009 as in the previous year.
Reuters Messaging rm://david.brett.reuters.com@reuters.net
Keywords: MARKETS UK STOCKSNEWS
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.
Europe Real-time Equity News
UK Stocks on the move
UK smallcaps UK smallcaps news
09:10GMT 18Nov2009
Ladbrokes higher as BoA/Merrill upgrades
Shares in bookmaker Ladbrokes rise as much as 5.5 percent to 134 pence, hitting a four-week high, after Bank of America-Merrill Lynch upgrades the stock to 'buy' from 'underperform' and raises its price target to 160 pence from 140 previously.
The broker says the worst news is over after a run of punter-friendly football results impacted margins, causing the stock to hit an all-time low.
'Since the last trading update football results have normalised. The proportion of draws has risen through the season which should lead to a normalisation of margins,' say BoA/Merrill analysts in a research note.
Rival William Hill gains 1.6 percent to 190.3 pence.
Reuters messaging rm://matthew.scuffham.reuters.com@reuters.net
08:31GMT 18Nov2009-Cadbury up on hopes of Hershey
Ferrero rival bid
Cadbury shares rise as much as 1.8 percent on hopes chocolate makers Hershey Co and Ferrero SpA will mount a joint bid for he British confectioner, which could help it fend off a hostile takeover by Kraft Foods Inc . Analysts said they were unlikely to rush into any move, however.
A source familiar with the talks between U.S.-based Hershey and Italy's Ferrero told Reuters on Tuesday that discussions between the two sides were at a preliminary stage, giving the strongest signal yet of a possible rival bid to Kraft's $16.7 billion offer, which Cadbury has rejected as 'derisory'.
'A combination of Hershey and Nestle was initially talked about and Ferrero has been mentioned this week so perhaps they have got together, which would probably be good news for Cadbury, but it could be wishful thinking,' said FinnCap analyst Charles Pick.
'But there could be something in it and if there is they (Hershey and Ferrero) would have plenty of time and could just wait and see how events unfold and look at the offer document when it's released.'
For more, click on
Reuters messaging rm://rhysl.jones.reuters.com@reuters.net
08:24 GMT 18Nov2009
FTSE small caps up 0.2 pct at the open
The FTSE Small Cap Index gains 0.2 percent in early trade, taking its cue from London's blue chips which also add 0.2 percent, while the FTSE 250 rises 0.4 percent.
Building-maintenance firm Rok Plc rises 6.4 percent, topping the small cap risers in early on, after the firm announces it has been awarded Preferred Bidder as part of consortium in Oldham Housing Project worth 130 million pounds.
British driving services firm Trafficmaster Plc falls 1.6 percent after the company reports a fall in consumer services revenues and decreased visibility over the timing of future revenues for its business services division, but says it is on track to deliver a similar level of operating profit in 2009 as in the previous year.
Reuters Messaging rm://david.brett.reuters.com@reuters.net
Keywords: MARKETS UK STOCKSNEWS
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.
