UK MARKET TALK ROUNDUP: SHARES LOSING

16th Jul 2010 12:18

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] 1118 GMT [Dow Jones] Execution Noble lowers Mothercare (MTC.LN) to sell from hold, following the company's 1Q trading update. Also reduces target price on the stock to 450p from 550p. Says the company "confirmed our fears on the outlook for the UK." Says that given the high operational gearing of the UK business and the high seasonal gearing of the Early Learning Centre business, earnings visibility is low. "While the international growth story is still intact, we think the UK is likely to be the focus for investors in the run-up to Christmas, making the premium rating harder to justify," adds brokerage. Shares -1% at 525p. ([email protected]) 0910 GMT [Dow Jones] Panmure Gordon upgrades Trinity Mirror (TNI.LN) to buy from hold and target to 115p from 105p on the back of the significant share price collapse in recent months. Believes the stock is priced for massive downgrades across the market, but Panmure is broadly satisfied on near-term EPS and cash flow forecasts. "Most recent indications on advertising, cost savings and pensions guidance are positive." Shares -1.9% at 78p.([email protected]) 0906 GMT [Dow Jones] Investec initiates coverage of IQE (IQE.LN) at buy with 27p price target. Thinks the company stands to be a key beneficiary of the forecast strong demand for handsets and other wireless devices globally. Says while the business model is underpinned by wireless, there may be substantial opportunity in solar power, solid state LEDs, and lasers for storage, communications and other consumer applications. Shares are -1.2% at 22p. ([email protected]) Contact us in London. +44-20-7842-9288 [email protected] (END) Dow Jones Newswires July 16, 2010 07:18 ET (11:18 GMT)