UK MARKET TALK ROUNDUP: SHARES GAINING

2nd Jul 2010 09:51

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] 0851 GMT [Dow Jones] Investec Securities upgrades Rolls-Royce (RR.LN) to buy from hold, noting the recent market-led selloff that has seen the stock underperform and the brokerage's increasing conviction in the fundamental investment case. Says through a difficult downturn Rolls-Royce has proven its highly defensive business model. "With further positive earnings momentum in prospect, we view the current price as a good opportunity to invest in what we believe should be a core holding in the A&D sector." Has 630p price target on the stock. Shares +1.8% at 545p. ([email protected]) 0826 GMT [Dow Jones] Liberum cuts PartyGaming (PRTY.LN) target to 330p from 380p on recent negative news flow. Also says the 2Q trading statement could prompt further downgrades so the shares could remain weak in the short term. Says the company faces currency issues and ongoing competitive pressures from US-facing operators. Notes that there are few near-term catalysts for the company. However, maintains buy rating as potential 'game-changing' events, such as M&A and US regulation, have not disappeared. Shares +3% at 212p. ([email protected]) 0714 GMT [Dow Jones] Travis Perkins' (TPK.LN) trading update is positive, says Shore Capital, with the company indicating that following a slow start to the year it had seen a strong rebound in trading. Says group revenues for the six months ended June 30, 2010, were up by 4.7% with like-for-like sales up 3.4%. Adds there is further good news as Travis Perkins will resume dividend payments, the company expecting to declare an interim dividend of 5p/share on July 29. Shares +4.1% at 738p. ([email protected]) Contact us in London. +44-20-7842-9288 [email protected] (END) Dow Jones Newswires July 02, 2010 04:51 ET (08:51 GMT)