UK MARKET TALK ROUNDUP: SHARES LOSING

14th Jun 2010 08:39

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] 0739 GMT [Dow Jones] JPMorgan Cazenove downgrades Home Retail Group (HOME.LN) to underweight from overweight. Says the downgrade reflects concerns about the longer-term structural challenges for the group as well as the brokerage's near-term view that its exposure to the mass market customer places it at a disadvantage to peers. Says most of its peers either benefit from overseas cashflows or are exposed to a more affluent consumer/more attractive product categories. Adds "with the [UK] budget yet to come and likely pressures on the consumer set to intensify, it seems likely that consumer trading generally will remain soft and in that instance, Argos' greater exposure will not be helpful." Has 230p target price. Shares -0.1% at 233p. ([email protected]) Contact us in London. +44-20-7842-9288 [email protected] (END) Dow Jones Newswires June 14, 2010 03:39 ET (07:39 GMT)