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11:25GMT 25Nov2009-Sportingbet up on rising revenue, Q1 results

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Shares in Sportingbet rise 6.0 percent after net gaming revenue rose 26 percent in the first quarter ending Oct. 31 and the online gaming company says it is confident about the rest of the year.

'Trading since the start of the Q2 has 'remained robust',' says Numis Securities, which has a 'hold' recommendation with a target price of 77 pence.

'We believe that SBT benefits from a well diversified sportsbook and strong risk management systems, and we see it as being modestly priced given the group's strong growth potential,' says Numis analyst Wyn Ellis.

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10:35GMT 25Nov2009-Finsbury Food drops after update

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Shares in Finsbury Food Group drop 13.6 percent after the bakery company issues a trading update, with KBC Peel Hunt cutting its rating on the stock to 'sell' from 'hold'.

Finsbury Foods says group sales for the 17 weeks to end October are down 2 percent on the same period last year, impacted by a tough cake market.

'Finsbury can ill afford trading to weaken given the level of debt in the business,' says KBC in a note.

The broker reduces its year to June 2010 pretax profit forecast to 5 million pounds from 5.5 million to reflect the lower sales, with its target price falling to 20 pence from 30.

It notes that margins are also under pressure due to higher input costs.

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10:17GMT 25Nov2009-Harvey Nash tumbles on update

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Shares in Harvey Nash tumble 16.4 percent after the British recruitment and outsourcing firm says trading remains challenging, while the expectation of a V-shaped recovery in its end-markets has not materialised.

Panmure Gordon says the update 'is significantly worse than expected, and should send a reality check to those expecting cyclical recovery from recruitment markets'.

The broker cuts its pretax profit forecasts for both 2010 and 2011 to 4 million pounds from 6.9 million pounds, and reduces its target price to 39 pence from 49 pence, while keeping its 'hold' rating.

'We expect recruitment share prices elsewhere to wake up and smell the coffee as a result,' it says.

Meanwhile, Numis downgrades its recommendation to 'add' from 'buy' and slashes 2010 pretax profit forecast by 47 percent to 4 million pounds and by 28 percent to 4.9 million pounds for 2011.

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09:35GMT 25Nov2009-Novera soars on sweetened offer from Infinis

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Shares in Novera Energy soar 16 percent to a new 52-week high of 76 pence after Terra Firma-backed Infinis Energy raises its offer for the renewable energy company to 75 pence a share cash from the prior 62.5 pence.

However, KBC Peel Hunt calls the offer 'still too cheap'.

'Infinis can afford 98 pence in our view,' the broker says. 'Our target price of 80-85 pence is a minimum reflecting a lack of competitive tension.'

Novera shareholders should hold out for a better offer, the broker adds.

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09:09GMT 25Nov2009-GB Group plunges on profit warning

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Shares in GB Group Plc plunge as much as 31 percent after the identity-checking business cuts its full-year profit forecast due to poor performance at its DataAuthentication business.

KBC Peel Hunt analyst Alex Jarvis points out that the DataAuthentication business is suffering from a reduction in ID checks from a major client.

'This is frustrating and will have a material impact on pretax profit forecasts, but the underlying direction of business development remains positive,' he says.

The broker, which has a 'buy' rating and a 55 pence price target on GB's stock, cuts full-year 2010 adjusted pretax profit estimates to 0.8 million pounds from 2.1 million.

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09:22GMT 25Nov2009-Speedy Hire falls on results, outlook

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Shares in Speedy Hire fall 1.6 percent as the tool hire company swings to a first-half loss, slashes its interim dividend and says it continues to suffer from deferrals as the outlook for UK construction remains uncertain.

Altium Securities, which downgrades its recommendation to 'sell' from 'hold', now estimates a full-year 2010 pretax loss of 5 million pounds, down from a 5 million pound profit, and reduces its target price to 26 pence from 38 pence.

The broker now forecasts the firm breaking even in 2011, down from a 6.5 million pounds profit.

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