UK MARKET TALK ROUNDUP: BROKERS COMMENTS -2-

15th Jun 2010 07:31

0521 GMT [Dow Jones] HK morning's short-selling volume edged up 0.8% at HK$953.83 million; percentage of market total below 5% for second day in a row, at 4.3% at HK$4.6% at Monday's half-day, suggesting bears deterred by HSI's 6-day winning streak. Tencent (0700.HK) leads with HK$137.89 million, followed by BYD Company(1211.HK) with HK$53.80 million, then Li Ning (2331.HK) with HK$52.32 million. No other stocks even manage more than HK$100 million worth of shorts. ([email protected]) 0627 GMT [Dow Jones] UBS raises Weir Group (WEIR.LN) price target to 1200p from 1150p. "While Weir has already delivered four decent-sized upgrades to '10 estimates this year we believe the momentum will keep on going, albeit probably not at the same pace that has seen '10 estimates," says UBS. It adds that the acquisition of Linatex provides further earnings accretion into '11. It raises '10 EPS estimate to 88p from 74p and '11 EPS estimate to 94.3p from 76.8p. Keeps the stock at buy. Shares closed Monday at 1066p. ([email protected]) 0624 GMT [Dow Jones] Bellway's (BWY.LN) trading statement is encouraging for both the company and the rest of the sector, says Liberum Capital analyst. Says while Bellway saw a reduction in sales after the general election this was only small. Says the market has been very nervous about the housing sector falling since the election. Adds the rest of the statement reads well with good average selling prices and a small uptick to sales guidance. Still, sees better value elsewhere in the sector, so has a hold rating and target price of 820p. ([email protected]) Contact us in London. +44-20-7842-9288 [email protected] (END) Dow Jones Newswires June 15, 2010 02:31 ET (06:31 GMT)