Monday 30 May 2011

Tech stocks in the request but FTSE sliding back

Numis analyst read this as a suggestion that the deal could be renegotiated, while Royal Bank of Scotland analysts also believed that CSR could be searching for better conditions.

"While we do not believe CSR will be at foot of the given agreement the weak results and Outlook, we believe that CSR could ask for a renegotiation of terms," said the broker. If CSR withdrew from the agreement, pay a fee of $12 break. 2 m.

CSR is also set to unveil its first-quarter results today. Matrix analysts are feeling bullish, keeping their "buy" rating and anticipate revenues in 164 m $. The chip manufacturer on 13 to 368 p to claim the midcap index bronze medal, but the FTSE 250 as a whole lost 11.15 to 11,896.09 points.

The FTSE 100 watched of same dull, excretion 34.08 points of 5942.69 as a resurgence of concerns about the Greece debt problems kept traders on the sidelines.

Sentiment was soured by an update commercial for HSBC, which fell from 3½ % 648.2 after having revealed a fall in favour of the first quarter. The atmosphere was further overshadowed by major banks to give up their fight to avoid mistakenly sold customers personal protection of insurance compensation.

Suffering the sharpest fall, however, was a Centrica. The owner of British Gas dragged 12-303½p, as he said that profit growth would slow down due to an increase in taxes on the production of oil and gas in the North Sea.

Slipping back, too, was property stocks such as UBS advised investors to the profits of the Bank. In a long note on Central London property, the broker has described the capital market Board of the as one of the "hottest in Europe".

But he said "potential offer is build 2014 and there is a risk that future demand will lower in previous cycles, reflecting the continuing challenges of the financial sector and lower general UK, growth and consumer demand."

In these concerns, they recommended some making short-term profits come from the results season. They cut their ratings on British land, capital & counties and land securities to "netural" from "buy", sending them to the bottom of 7½ to 589½p 1.1 to 168.9 p and p 11½ to 766, respectively.

They cut Derwent London and great Portland estates to "sell" from "neutral". The former lost 33 p to £ 17.35 and this last hangar 406.8 5.3 percent.

But elsewhere, website Rightmove property advanced 6 p to £ 10.91 that Goldman Sachs bumped up to his price target of £ 10.83 to 14.30 £.

Return to the highest level, Serco edged up to 0.5 to 547½p that investors were encouraged by the Outsourcer winner £ 1 more contracts since the beginning of the fiscal year.

Flight in pole position, however, was Inmarsat. The satellite operator rose from 26 to 619 p as he posted an increase of 15pc of revenue in the first quarter.

Just behind was autonomy. The author of software looking for emails and phone calls achieved 63 p £ 16.75 as Numis have changed their attitude of "reduce", "add". Also its price target moving at £ 12.90 17.65 £, the broker said that after a strong first quarter, he saw a chance for autonomy to reverse his record of two years of the share price underperformance.

It was a similar story on the second level where software provider Misys jumped 26½ in 343½p with the Credit Switzerland restart of coverage with an "outperform" rating. Analysts thought that the Bank of the Misys trade was "back on solid footing after years of under-investment" and also stated if the parts of the group could be attractive acquisition targets.

During this time, Micro focus put on 385 p as 12.2 computer society put forward an updated commercial in which he said that revenues for the year were consistent with expectations. Last month, Micro Focus said it had received an approach taken and there is that Bain Capital is the suitor of speculation.

Slipping back, however, was Thomas Cook. As the tour operator said that the success of the agitation of the Middle East would be worse than expected, as vacationers avoided destinations such as the Egypt, it fell 4.9 percent 156.2. That its toll on large-cap peers, tui travel, which fell 1.2% 243.6.

Lower market, Mediterranean Oil & Gas past 1 p 11.88.(9) as a fundraising of £ 20 million received the green light.

Carriage of oil and gas also fried 26.75 in 218½p as UBS began coverage with a "buy" rating and 450 p price target in a note on the explorers with African exhibition. Analysts enthusiasm that sub-Saharan zone "has become one of the most exciting exploration areas in the 21st century".

The broker said the region was "widely explored" and that political stability found in some countries allowed small businesses to enter alongside the majors.

Cart has been top pick of UBS, with analysts saying that there could be as much 1630pc to the price paid if all current two of its first two wells off the coast of Namibia are discovered oil.

UBS also began energy Cove and Bowleven with "buy" ratings. they checked up to 2 at 89 p and p of 7.75 to 269.25, respectively. The broker added that it considered the three companies as M & A candidates.


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