UK MARKET TALK ROUNDUP: SHARES LOSING

5th Jul 2010 09:10

Stocks on the fall in the UK today. Compiled by Dow Jones Newswires Markets Desk, [email protected] Contact us in London. +44-20-7842-9464 [email protected] 0810 GMT [Dow Jones] UBS cuts Tate & Lyle (TATE.LN) price target to 500p from 515p following the company's sale of its EU sugar refining operations. Says while the deal suggests CEO Javed Ahmed's change program may not be a slow burn, it is not in itself value creating. "Indeed, our normalized Ebitda valuation implicitly assumed a higher value for EU sugar (based on 5%-6% margins) which, combined with the impact of a slightly stronger sterling, means we are lowering our price target by 3%." Keeps the stock at neutral. Shares -1.2% at 467p. ([email protected]) Contact us in London. +44-20-7842-9288 [email protected] (END) Dow Jones Newswires July 05, 2010 04:10 ET (08:10 GMT)