UK MARKET TALK ROUNDUP: SHARES GAINING

29th Jul 2010 08:46

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] 0746 GMT [Dow Jones] KBC Peel Hunt upgrades Rank Group (RNK.LN) to buy from hold, saying against a tough backdrop Rank has delivered a solid 1H. Says Grosvenor continues to be the star of the show, but Mecca has also shown its first growth in customer visits for a decade. Adds with debt down to GBP133M, the group also has the balance sheet to increase investment in core areas. "In an uncertain market, Rank should continue to outperform," adds KBC. Shares +5% at 115p. ([email protected]) 0723 GMT [Dow Jones] Royal Dutch Shell (RDSB.LN) looks like it has turned a corner after a good set of 2Q results, says Panmure Gordon analyst Peter Hitchens. After a long period of production decline, Shell has now had two successive quarters where output growth exceeded 5%, he says. The completion of the restructuring faster than expected and with greater cost reductions is a feather in the cap of Chief Executive Peter Voser, he says. Shares +0.4% at 1714p. ([email protected]) 0703 GMT [Dow Jones] AstraZeneca (AZN.LN) earnings are a strong set, with FY core EPS guidance raised to $6.35-$6.65 from $6.05-$6.35, says Shore Capital. Adds the company has also increased its share buyback in 2010 to $2B from $1B, "catalysed we believe by a combination of the positive outcome of the Crestor litigation along with the positive ADCom recommendation for Brilinta last night." Has a buy rating. Shares +4% at 3330p. ([email protected]) Contact us in London. +44-20-7842-9288 [email protected] (END) Dow Jones Newswires July 29, 2010 03:46 ET (07:46 GMT)