Broker snap: Sell Morgan Sindall before results, Panmure says

7th Aug 2009 11:36

Panmure Gordon is advising investors to take profits on Morgan Sindall ahead of Monday's first half results, citing the construction and regeneration group's strong run recently.Key issues to look out for in the numbers are public sector spending pressures, housing market trends and utility-related spending the broker says.'The recent trend of H1 results has been expectations delivered "in-line", while reiterating a cautious outlook,' Panmure says.'We do not expect Morgan Sindall to go against the grain.'It keeps its 'sell' rating on the firm