UK MARKET TALK ROUNDUP: SHARES GAINING

15th Jun 2010 09:21

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] 0821 GMT [Dow Jones] Citigroup raises Weir Group (WEIR.LN) price target to 1280p from 1230p following the company's stronger-than-expected trading update. Says 1H '10 guidance is around GBP26M ahead of previous expectations. Also notes the company's announcement of a GBP138M acquisition of Malaysian-based Linatex, which Weir believes will be around 5% EPS accretive from '11. Citi raises its '10 EPS estimate to 89p from 75p, and its '11 EPS estimate to 94.9p from 81.9p. Shares +0.3% at 1069p. ([email protected]) 0803 GMT [Dow Jones] Panmure Gordon upgrades British Sky Broadcasting (BSY.LN) to hold from sell, following a bid from News Corporation (NWS) of 700p per share to acquire the 61% stake of BSkyB shares it does not own. BSkyB rejects the offer, but has suggested an approach at around 800p could be successful/recommended, says Panmure. "As News Corp is a cash-rich corporate, with a 39% material minority stake already, this is the most logical conclusion," says Panmure, raising the target price of the stock to 750p from 375p. News Corp, parent company of Dow Jones Newswires, has a stake of about 39% in BSkyB. Shares in BSkyB +19% at 716p. ([email protected]) Contact us in London. +44-20-7842-9288 [email protected] (END) Dow Jones Newswires June 15, 2010 04:21 ET (08:21 GMT)