UK MARKET TALK ROUNDUP: SHARES LOSING

23rd Jun 2010 08:07

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] 0707 GMT [Dow Jones] Goldman Sachs downgrades Marston's to sell from neutral, adding the name to its pan-European conviction sell list. Goldman says on earnings multiples, Marston's stock is trading at a premium to the sector, to its closest peer Greene King (GNK.LN) and to its own ten-year history. The bank continues to think profit growth from the tenanted business will be held back as agreements signed before the sharp drop in beer volumes come up for renewal. Goldman thinks there will be another year of limited or negative profit growth for managed pubs. Price target trimmed to 80p from 86p. Shares -2% at 96p. ([email protected]) Contact us in London. +44-20-7842-9288 [email protected] (END) Dow Jones Newswires June 23, 2010 03:07 ET (07:07 GMT)