UK Market Talk Roundup: Shares Losing

Stocks on the fall in the UK today. Compiled by Dow Jones Newswires Markets Desk, markets.eu@dowjones.com 

        0840 GMT The European Central Bank's decision to stop accepting Greek bonds as collateral could further stoke depositor fears although the actual move will have only a limited impact on Greek banks, says Pantelakis Securities. "Although of high symbolic political significance, the ECB decision has limited actual impact for Greek banks. We understand that the truly affected collateral is rather small (to the tune of EUR10-15 billion, including T-bills pledged), as Greek banks hold rather limited Greek bond portfolios," notes the brokerage. "Still, the decision may increase depositors' jitters, potentially prolonging deposit outflows in the coming weeks, unless the new Greek government reaches an agreement with official lenders." Greek banks' share prices slide Thursday. Piraeus Bank is the biggest faller, down 27%. (alkman.granitsas@wsj.com)
        0835 GMT AstraZeneca PLC's fourth quarter results are a miss, with 2015 revenue guidance quite weak and EPS guidance better, says Sanford c. Bernstein. Analyst Tim Anderson adds that there's uncertainty on how the gap between the likely 2015 revenue performance and EPS will be closed, even though the company says it will continue to seek "externalization revenue" from partners and licensing. Stock rated at market perform. Shares are trading 2.8% lower at 4556p. (marta.falconi@wsj.com)
        0831 GMT Munich Re's preliminary key figures are slightly weaker than expected, but on first glance this is due to "accounting noise" and thus of limited importance, DZ Bank analyst Thorsten Wenzel says. Sees the rise in the 2014 dividend to EUR7.75 a share from EUR7.25, as a sign of confidence in future earnings power. The moderate price decline of 1.3% in Munich Re's January contract renewals meets the analyst's expectations while the 9.5% decline in the premium volume may come as a negative surprise, he says. Rates at sell, EUR165 fair value. Shares are down 0.7% at EUR180.55. (ulrike.dauer@wsj.com)
        0818 GMT ABB's 4Q results are mixed with positive growth in small orders and profitability countered by the high value of the U.S. dollar taking a toll on the company, says Bank Vontobel. Revenues missed consensus estimates adds analyst Panagiotis Spiliopoulos. "While order momentum remains positive in local currencies, the USD strength blurs the solid underlying performance," he says. He remains positive on the stock citing ABB's ability to cut costs and expected demand for automation equipment in emerging markets. Rates at buy with CHF21.5 price target. ABB stock down 4.4% at CHF17.68. (john.revill@wsj.com)
        0807 GMT Munich Re's 4Q and 2014 earnings are "a mixed bag," traders say, with gross premiums and net profit slightly below expectations, while the investment result and the higher dividend outpaced forecasts. The substantially higher 2014 dividend, which is rising to EUR7.75 a share from EUR7.25, and the dividend yield of almost 4% should attract buyers, says one trader. The combined ratio was also better than forecasts, which is in part due to releases of reserves no longer needed. Shares are 1.2% lower at EUR179.70. (michael.denzing@wsj.com; ulrike.dauer@wsj.com)
        0802 GMT Deutsche Bank downgrades Ocado Group to sell from hold while leaving the target price unchanged at 330p. Says the potential for value creation is not sufficient to justify the almost 60% rise in the share price over the last three months, which has added close to GBP1 billion to Ocado's market cap. Ocado shares are down 2.9% at 419p in early trading Thursday. (gary.stride@wsj.com)
        (END) Dow Jones Newswires

        February 05, 2015 03:40 ET (08:40 GMT)

#FX
#Forex
#UK_Market
#SharesLosing