UK MARKET TALK ROUNDUP: SHARES GAINING

9th Jul 2010 08:13

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] 0713 GMT [Dow Jones] Seymour Pierce upgrades Michael Page International (MPI.LN) to hold from sell and raises target price to 375p as the company returns to more normal levels of business. "But we are still cautious about the medium term outlook for recruitment markets," says the analyst. Will be upgrading full-year gross profit forecast "in due course." Says that Michael Page reported 30% growth in profits, which "is significantly better than expected and compares with an 8% increase at Hays (HAS.LN)." Shares +3.3% at 399p. ([email protected]) 0707 GMT [Dow Jones] Citigroup upgrades Antofagasta (ANTO.LN) to buy from hold and target to 1200p from 1160p. Says the valuation is too low, and attractive, given the company's commodity exposure and financial strength. Notes Antofagasta has successfully delivered its flagship Esperenza project, which should shift the company into the top 5 global copper producer league by '12. Reckons Antofagasta will generate over $8B of free cash flow over the next three years, meaning that the growth story in the stock is amongst the most robust in the sector. Also notes Citi's commodities team has increased its long-term copper price forecast. Shares +2.5% at 873p. ([email protected]) Contact us in London. +44-20-7842-9288 [email protected] (END) Dow Jones Newswires July 09, 2010 03:13 ET (07:13 GMT)