UK Market Talk Roundup: Shares Gaining

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

        0923 GMT Deutsche Bank raises its target price on Metro to EUR34 from EUR26 to reflect earnings upgrades driven by improvements in sales growth at Cash & Carry and Media Markt-Saturn. The bank expects the negative currency impact to ease in 2Q, largely due to China which represents 4% of group sales. 2Q being typically a loss-making quarter for Metro, Deutsche Bank forecasts Ebit loss to narrow to EUR36 million. "Given limited visibility on earnings potential and value and ongoing macro pressures," the bank has a hold rating on Metro. Shares are up 0.4% at EUR33.94. (neetha.mahadevan@wsj.com)
        0901 GMT [Dow Jones]--Pinnacle Technology is the biggest riser on AIM after the IT managed service provider raised GBP0.86 million via a placing of 13.2M new shares at a price of 6.5p each. The company said the placing has been arranged to facilitate a strategic investment in Pinnacle by technology-focused merchant bank MXC Capital. Pinnacle shares +33% at 7.5p. (jana.simmons@wsj.com)
        0901 GMT [Dow Jones]--Panmure Gordon places its forecasts, recommendation and target price on Nektan (NKTN.LN) under review pending the outcome of a General Meeting to be held on May 20. In order to satisfy additional demand from new institutional and private investors, the meeting will be held to increase the authority to issue shares for up to an aggregate nominal value equal to 10% of the share capital of the company. This morning Nektan announced a new financing package totaling GBP7.1M. Shares +0.9% at 169p. (jana.simmons@wsj.com)
        0807 GMT [Dow Jones]--Lower oil prices are squeezing BP's operating cash flow, but there's another reason why the oil giant's cash flow plummeted to $1.9 billion in the first quarter of the year from $8.2 billion a year earlier: stock building. The slump in oil prices has resulted in a market condition known as contango, where current oil prices are cheaper than those in the future, allowing oil traders to store oil they bought at low prices while locking in a profit. "There's more cash going into stocks and inventories and one of major reasons is an increase in holding stocks to take advantage of the contango," says a BP spokesman, adding that build is expected to unwind this year. Shares climb 1.4% to 483.55p. (sarah.kent@wsj.com)
        (END) Dow Jones Newswires

        April 28, 2015 05:23 ET (09:23 GMT)

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