UK MARKET TALK ROUNDUP: SHARES LOSING

8th Jul 2010 14:34

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] 1334 GMT [Dow Jones] J Sainsbury (SBRY.LN) -1.6% at 339p and is the biggest decliner on the FTSE 100, reversing the strong gains seen on Wednesday. This follows the speculation Wednesday of a Qatar Investment Authority bid for the supermarket. The shares gained 5.8% on this chatter by yesterday's close. Traders note that the fall coincides with chief executive Justin King selling Sainsbury shares. One trader says this indicates no bid is likely in the short term. Another notes that these rumors have been in circulation for the past three years. A third says the QIA may not be interested, having just taken a large stake in Agricultural Bank of China after its dual IPO. ([email protected]) 1022 GMT [Dow Jones] S&P Equity Research cuts CRH (CRH.DB) price target to EUR15 from EUR18 following the company's trading update. Expects additional volumes declines through 2H and FY'10 to result in CRH underperforming guidance. Notes the slight slowdown in volume declines since April reported in the 1H interim statement is not indicative of improving trends. Sees little near-term benefits from the EUR133M spent on 13 acquisitions in 1H and views the EUR19M spent on expansion plans in India and China as too little, too late. "Austerity measures and rising sovereign risk lowers our forecast construction investment outlook in Europe." Reiterates sell rating. Shares -1.2% at EUR15.87. ([email protected]) Contact us in London. +44-20-7842-9288 [email protected] (END) Dow Jones Newswires July 08, 2010 09:34 ET (13:34 GMT)