UK MARKET TALK ROUNDUP: SHARES LOSING

8th Jun 2010 08:13

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] 0713 GMT [Dow Jones] Goldman Sachs downgrades Bodycote (BOY.LN) to neutral from buy. Following a period of outperformance, the shares no longer have sector-leading relative upside to the price target, says GS. But it thinks the company should be a significant beneficiary of further improvements in industrial production and in the recovery in automotive and general industrial markets. GS sees significant earnings recovery through '10 and '11. It nudges the price target up to 290p from 274p. Shares -0.6% at 194.9p. ([email protected]) 0710 GMT [Dow Jones] Goldman Sachs downgrades Morgan Crucible (MGCR.LN) to neutral from buy. No longer sees sufficient sector-relative upside to retain the stock at buy. Still sees some uncertainty over the outlook for NP Aerospace post '10 given the potential for defense budget cuts as parts of increased fiscal austerity programs. But thinks the company should be able to deliver structurally higher margins over the next cycle as a result of its cost cutting action taken during the downturn. Nudges the target down to 250p from 254p. Shares -0.8% at 172p. ([email protected]) Contact us in London. +44-20-7842-9288 [email protected] (END) Dow Jones Newswires June 08, 2010 03:13 ET (07:13 GMT)