UK MARKET TALK ROUNDUP: SHARES LOSING

2nd Jul 2010 14:42

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] 1342 GMT [Dow Jones] Smith & Nephew (SN.LN) -5.3% at 583p, on market speculation that it is guiding analysts lower ahead of the 2Q results due in August. One trader notes that the volumes are strong, exceeding the 2.9M average. Thinks though the selling looks overdone as the company's earnings improvement program looks intact. Another adds that currency headwinds will likely have an affect, come the results. Smith & Nephew declines to comment. The FTSE 350 health care equipment & services index is currently -4.9%, while the FTSE 100 is +1.4% at 4873.5. ([email protected]) 0912 GMT [Dow Jones] Panmure Gordon raises Hyder Consulting (HYC.LN) price target to 418p from 313p. In the context of some industry consolidation following the approaches for Scott Wilson (SWG.LN), reckons there is strong potential for a rerating as we move into the next growth cycle. Sees Hyder as being in a sweet spot at present, with the quality of its earnings continuing to improve coupled with acquisitions potentially coming on to the agenda. Keeps the stock at buy. Shares -4.1% at 324p. ([email protected]) 0821 GMT [Dow Jones] Evolution downgrades Burberry Group (BRBY.LN) to neutral from add. Says it has been the best performing stock in the sector over the last year and is now trading at a slight premium to its competitors. Lifts the price target to 740p from 720p. Still believes in the long-term growth potential for the group but sees some headwinds in FY '11. Also, thinks the end to its cost savings program will likely mean that other industry players have a chance to shine in the short to medium term. Says after its strong run, the market requires further visibility about the next leg of growth. Shares are -0.4% at 742p. ([email protected]) Contact us in London. +44-20-7842-9288 [email protected] (END) Dow Jones Newswires July 02, 2010 09:42 ET (13:42 GMT)