UK MARKET TALK ROUNDUP: SHARES GAINING

12th Jul 2010 10:10

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] 0910 GMT [Dow Jones] BP's (BP) level of debt is unlikely to rise despite in its 2Q results spending billions of dollars on the oil spill clean-up, says Collins Stewart. "We see 2Q operating cashflow of around $7Bln. If we assume capex of $4.5Bln and spill containment/cleanup costs of around $3Bln, this would leave BP's net debt little changed over the quarter in the absence of any dividends," it says. "We continue to see good near-term upside in the shares, most particularly if the first relief well is successful," it adds. Gives buy rating, 450p target. Shares +6.8% at 389p. ([email protected]) 0857 GMT [Dow Jones] Hyder Consulting's (HYC.LN) interim statement indicates the company continues to trade well and is now slightly ahead of expectations, says Panmure Gordon. Says the group's order book is also progressing apace and expects the company to build on its growing cash position. With nearly 30% upside potential from its 418p target price, the brokerage remains positive on the shares and reiterates its buy recommendation. Shares +4.3% at 340p.([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 05:10 ET (09:10 GMT)