UK MARKET TALK ROUNDUP: SHARES LOSING

30th Jul 2010 08:19

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] 0719 GMT [Dow Jones] Seymour Pierce downgrades Homeserve (HSV.LN) to hold from buy, with a target price of 2200p. The 1Q trading update is low in detail, although Homeserve indicated progress in the year to date is in line with its expectations. Seymour says it has no doubts about the quality of the Homeserve business model and it sees significant growth opportunities in Europe and the US, although the share price is now ahead of events. Shares -1.6% at 2265p. ([email protected]) 0704 GMT [Dow Jones] Arden Partners downgrades Homeserve (HSV.LN) to neutral from buy. Homeserve has been on the brokerage's conviction buy list, but following outperformance during which the shares exceeded Arden's target of 2250p, a neutral rating is warranted, says the brokerage. On the company's update, Arden says it is a simple message on rising policy numbers and high retention rates across the company's territories. Arden adds that the company's key trading period is in 2H. Shares -1.3% at 2272p. ([email protected]) Contact us in London. +44-20-7842-9288 [email protected] (END) Dow Jones Newswires July 30, 2010 03:19 ET (07:19 GMT)