UK MARKET TALK ROUNDUP: SHARES GAINING

27th Jul 2010 09:52

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] 0852 GMT [Dow Jones] BP's (BP.LN) 2Q earnings have the Gulf of Mexico Macondo oil spill disaster casting a long shadow over them, says Evolution Securities. Says the company reports underlying net income of $5B, up 70% year-on-year, but the headline figure was hit by a $32.2B pre-tax charge relating to the Macondo well accident. Adds liquidity and working capital remain key concerns, and as a result the group is to reduce net debt to between $10B-15B over the next eighteen months from the current $23B via a disposal program mainly in the exploration and production business that could raise up to $30B. Has a buy rating, and 580p target price. Shares +0.5% at 420p. ([email protected]) 0813 GMT [Dow Jones] Misys (MSY.LN) final results were "light on revenue, in line on profit and ahead on EPS," says Panmure Gordon. Says that while net cash of zero is "well ahead of our expectations", the news of a banking order book -15% is "not encouraging." Brokers adds "Given the results, we reiterate our view that CEO Mike Lawrie needs to dig deep in his box of tricks - labelled 'vision things' - to convince investors to remain with the company post Allscripts." Retains buy recommendation with 296p target. Shares +2.8% at 257p. ([email protected]) Contact us in London. +44-20-7842-9288 [email protected] (END) Dow Jones Newswires July 27, 2010 04:52 ET (08:52 GMT)