UK MARKET TALK ROUNDUP: SHARES LOSING

19th Jul 2010 08:12

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] 0712 GMT [Dow Jones] Credit Suisse downgrades Anglo American (AAL.LN) to neutral from outperform, after the stock outperformed peers since August '09. CS cuts the price target to 3000p from 3600p and the stock is removed from the brokerage's focus list. CS says the restructuring/growth story is priced-in. Heading into the interim results on July 30, CS is concerned over potential negative catalysts, primarily from the Minas Rio project. It warns that further bad news on that issue would deal a blow to management, making delivery in other areas an imperative. Shares -0.9% at 2317p.([email protected]) 0708 GMT [Dow Jones] American International Group's (AIG) appointment of Mark Tucker, a former CEO of Prudential (PRU.LN), as the new head of its overseas life insurance unit, AIA Group Ltd., forms part of AIG's strategy to launch an IPO of the Asian unit, following its refusal to accept a reduced bid from Prudential a number of weeks back, notes Shore Capital. "The news is likely to generate considerable speculation that one of AIA's first moves as a quoted company will be to launch a bid for Prudential, with the aim of acquiring Pru's own Asian units and combine them with its own," says Shore. Keeps a buy rating on Pru. Prudential shares -0.8% at 518p. ([email protected]) Contact us in London. +44-20-7842-9288 [email protected] (END) Dow Jones Newswires July 19, 2010 03:12 ET (07:12 GMT)