Thursday 19 May 2011

U.S. roadshow offers new investors Ocado

FTSE 250 close up 5.37 11082.17.

Fresnillo reaches 60% £ 15.68 Kazakhmys acquired 24 p to £ 15.11 and Antofagasta, has advanced from 23 percent to £ 14.36, as commodity prices lifted the mining sector - which was also supported by $3 (£ 1. 91bn) takeover Walter Western coal energy.

Gerard Lane, Coast capital equity analyst is bullish on the prospects for juveniles in the run up to Christmas: "taking into account the end of the increase in metal prices suggest that gains in the mining sector are likely to continue to be revised more and given its low value, we remain positive on the sector."

Manufacturer of catalysts Johnson Matthey has been another increase in merchandise recipient, award, with its closed shares higher at £ 19.26 59 p. Society, which is approximately one third of catalytic converters used in vehicles, was also helped by an increase in the target prices and Liberum Capital, which maintains its "buy" estimates the stock rating.

Broker raised its price target for £ 20 to 25 £ and surveying company its long-term autour 10pc over consensus earnings forecasts. Liberum Capital said that the change in the forecast is partly raised expectations profit for the activities of Johnson Matthey precious metals.

Other winners included Imperial Tobacco, which rose from 19% to £ 18.93 on a smaller than expected in Spanish tobacco tax break. Madrid said that the increase in tax would raise 780 million euros (£ 639 m) a year — less than many had expected - under a package of reforms, he hoped to calm investor concerns about its economy.

Far from classification, speculation has continued to grow on the future of Kesa Electricals, owner of street high retailer Comet, subsequent to the release note of UBS.

Earlier this week, investor activist Knight Vinke raised its stake in the Kesa to 7pc, fueling the suggestions that a break-up of the chain may be imminent. Shares in the company increased by 0.4 to 174 p as UBS Adam Cochrane analysts and Andrew Hughes have speculated that Knight Vinke "can attempt to generate a one-time return of capital". Might come across a sale and leaseback of 300 m € of owned French company, get rid of Comet or one of its emerging companies or increasing financial gear company, they said.

However, analysts had doubts as to whether Knight Vinke was likely to be sustainable. "Investment attracted investors speculation and interest, but we do not know what value long term shareholder can be created in advance of what day-to-day management is already taken."

Among the laggards, Group Man shares shed 9.6 to 279,1 p as Numis Securities cut its rating to "reduce" to "hold" in an otherwise neutral review of UK asset managers hedge fund manager.

Luxury retailer Burberry also falls in mode yesterday. The company is found among the losers after a short rally - saw shares jump on in two days - 10pc has ended.

Shares in the company withdrew from 20% to £ 10.79 despite the initiator cover Seymour Pierce society with a "buy" rating Kate Calvert, analyst at retail broker, said mark was "strengthened as modern decor, the trend should be the brand of luxury".

"Business model continues to change as management tackles many of the problems of distribution and moves to the retail-oriented business model." All the benefits of a large number of these actions are still to come on profit wise. »

The financial services sector is as unobtrusive as insurers weighed on the market. Old mutual fell 120.1 p 3.1, Aviva slipped 5.8 percent 379.5 so that the Standard Life closed 2.2 206 p.

Bucking trend has St. James place, grouped wealth manager. He jumped 14.9 to 268 p response delayed for an upturn in the broader insurance sector of the earlier this week.

Barrie horns, Panmure insurance analyst said: "the last days have seen insurers rebound as Irish debt fears allayed after confirmation that the exhibitions are relatively small and manageable." Instead of St James of missed shares rally earlier in the week but bounced back after leaving behind them relatively. "Director share dealing, the absence of Irish debt exposure and a general recovery in the mid-cap market has also helped.


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