UK MARKET TALK ROUNDUP: SHARES GAINING

12th Jul 2010 09:29

Stocks on the rise in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 0829 GMT [Dow Jones] Kier Group's (KIE.LN) trading update suggests that FY profits will be at the upper end of expectations, says7 Panmure Gordon. Says the outlook remains challenging, as expected, but its track record helps the company to remain confident. Meanwhile, says the departure of finance director Deena Mattar is a surprise, but thinks Haydn Mursell, who is currently deputy group finance director at Balfour Beatty (BBY.LN) looks like a good replacement. Keeps at buy with 1160p price target. Shares are +4.1% at 982p. ([email protected]) 0709 GMT [Dow Jones] Kier Group's (KIE.LN) year-end update confirms that trading is at the higher end of expectations, says KBC Peel Hunt. Says construction has done well on good order books and support services, including social housing repairs and maintenance and is benefiting from strong client relationships and new wins. Adds that the management recognizes that local authority budgets are likely to come under pressure but says the company is well positioned to benefit. Says that strong cash performance is notable. Has no rating for the stock. Shares are +3.8% at 979p. ([email protected]) Contact us in London. +44-20-7842-9288 [email protected] (END) Dow Jones Newswires July 12, 2010 04:29 ET (08:29 GMT)