MARKET TALK: Smith & Nephew Dips On Results Chatter

2nd Jul 2010 14:42

1342 GMT [Dow Jones] Smith & Nephew (SN.LN) -5.3% at 583p, on market speculation that it is guiding analysts lower ahead of the 2Q results due in August. One trader notes that the volumes are strong, exceeding the 2.9M average. Thinks though the selling looks overdone as the company's earnings improvement program looks intact. Another adds that currency headwinds will likely have an affect, come the results. Smith & Nephew declines to comment. The FTSE 350 health care equipment & services index is currently -4.9%, while the FTSE 100 is +1.4% at 4873.5. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 02, 2010 09:42 ET (13:42 GMT)