Monday 11 July 2011

Alterian plunges on profit warning

The postponement means that Alterian now expects revenues for the year will be 10pc below the expectations of the market of 42 m £ 44 million pounds.

In response, two brokers issued double downgrades on Alterian, with the two George O'Connor Panmure Gordon and Alex Jarvis of Peel Hunt cut their rating to "sell" from "buy." Slashing its forecast of earnings to £ 4 to £ 8 m. 5 m, Mr. Jarvis said it will be "want visibility on the succession of the Chief Executive."

He added: "the message of the company is that" fundamentally nothing has changed in the enterprise "other than this one Report, although it acknowledges that it was too dependent on the lumpy deals - and new products were released may be too late in the year to make an impact."

Alterian has 35¾ - or 18 9pc - 154 percent while first business software division has also come under pressure. Sage Group fell 3 percent 277.8 and autonomy has dropped from 26% to £ 15,77.

End of last month, autonomy has come under pressure following a bearish note of JPMorgan Cazenove, who argued that the quality of the remuneration of the company was "poor and deteriorating."

Autonomy has been rapid counter criticism, even if, with a series of questions and answers on the section of relations investors of its Web site.

But analysts at Peel Hunt remained unimpressed, keeping their rating to "sell" on autonomy

in a note published towards the end of last week. Autonomy was among the laggards a day when the benchmark is struggling to hold on to its gains.

After having climbed back over 6000 Friday, the market has been rather more muted Monday, with the FTSE 100 closing only 7.06 points to 6016.98. FTSE 250 rose 57.84 points to 11766.57.

Sentiment was lifted by Vodafone agreement awaited inking to sell its stake in the French mobile operator SFR to Vivendi for €7. 75bn (£ 6 MD). However, after initially rising almost 2pc, Vodafone 12,284 0.25-178.85 p.

Peers midcap cable & wireless worldwide checked up 1.85 to 53.05 p.

But profit taking - and concerns about the situation of debt in Ireland and the Portugal - reached banks, with the Royal bank of scotland drag ½ p 41.84 and Lloyds banking Group relaxation 0.68 to 60.32 p.

Other financials were also on the slide, with Man Group the Feller more marked. The Fund Manager of coverage of the world largest enumerated hangar 243.7 p 9.4.

However, a strong performance by the miners helped to keep the blue chips only about in positive territory. The price of pink money, precious metals miner Fresnillo on 46 p to £ 16.11.

Among ships of a second, iron ore producer Ferrexpo was higher to 470.2 p, with rumours of bid of 22 towers.

Return to the top flight, Aggreko was leading the charge. Provider of temporary power jumped 84 p to £ 16.78 struck a pact with Tokyo Electric Power Company, owner of the Fukushima nuclear plant - to ship gas and diesel generators to the Japan, which will supply emergency electricity and the grid in June.

After having shed much blood the week last after a shock warning from Dixons, snippets of retailers profit were on the place. Next and Kingfisher spent 46 p to £ 20.46 and 258½p respectively 4.7.

However, the could not be said for Dixons, which continue to suffer, falling 0.73 p 11.99.

Colleagues midcap retailers, Ocado and Greggs were down 4.1-227 p and 18 to 510 p respectively.

Cranswick, which supplies the sausages to retailers and manufacturers, slid 41 790 p as the company became later to highlight a difficult outlook with faltering consumer confidence.

In a statement, Cranswick suggests that the coming year may be "more demanding to habit" explains in part by the difficulties encountered by the UK consumer.

Weakening of consumer confidence was also worried analysts at Jefferies. Last month, they noted that ITV could be affected by a cooling market advertising as retailers could reduce their marketing expenditures.

Monday, the broker said that the events is held "quickly as expected" and they were now see evidence that television advertising UK weaken with the market in May 3 - 4pc not 2pc - 1 nearest down previously.

"It was a bad week for the UK retail sector news flow, highlighting the vulnerability of the greatest source of the diffuser of advertising spend,"added Jefferies, who recorded the results a "lower" rating on ITV."."

However, ITV reached 1.25 79.8%.

The count was too much Johnson matthey, which rose 19 percent to £ 19.18 as specialty chemicals sector is encouraged by the news of the Belgian group, Solvay, buy his French counterpart, Rhodia, for taking of 3 euros (£ 3). The agreement prompted Liberum Capital to consider who else could be ripe for a takeover in the sector.

Analysts believed that midcap Crodaof strong cash flow and earnings per share growth was "an obvious attraction." Croda reached 24 p £ 17.18.


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