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 

        1031 GMT The Russian ruble hovered at 49.71 versus the dollar when President Vladimir Putin started his annual televised Q&A session. One hour and 15 minutes later, the ruble is trading at 50.17 versus the dollar, losing 0.9%. The ruble could be reflecting the market's reaction to President Putin's speech as well as to global oil prices, which nodded lower over the past hour. Meanwhile, the MICEX stock index is down 0.5% at 1669.67, while the dollar-denominated Russia RTS is 0.3% lower at 1049.42.(andrey.ostroukh@wsj.com)
        1029 GMT [Dow Jones]--AorTech International is the biggest faller on the AIM market of the London Stock Exchange. The company said this morning it continues to pursue its legal dispute against former CEO Frank Maguire, who has made a counterclaim for alleged non-payment of expenses totaling $168,000. AorTech also said it is too early to provide guidance on turnover for the year ended March 31 as final quarter royalties have still to be notified by licensees. Shares drop 26% to 18.25p. (jana.simmons@wsj.com)
        1014 GMT Nokia confirmed yesterday it had agreed to buy out Alcatel-Lucent in an all-stock deal that values the French firm at EUR15.6 billion, a 28% premium for shareholders. The merger of the companies will create a company ranked second in the telecom equipment sector. "This long-awaited move is primarily a defensive one," says Sheridan Nye, a senior analyst at Frost & Sullivan. "Neither Nokia nor Alcatel-Lucent alone could realistically take significant share from market-leader Ericsson, or fight off aggressive competition from Huawei. The merger creates a competitor that is stronger than the sum of its two parts," Mr, Nye adds. Nokia shares are down 1.8% at EUR7.25 and Alcatel-Lucent down 1.7% at EUR3.72. (orr.hirschauge@wsj.com, @orr_hirsch)
        0920 GMT [Dow Jones]--Numis Securities is increasing Cineworld Group PLC (CINE.LN) target price to 550p from 500p. The cinema chain's peer Vue Entertainment said during its 1Q results that UK cinema market admissions grew by 15.7% in March. "As a result, we estimate market admissions rose by 6.7% in calendar 1Q, materially ahead of our 1Q expectation of 2% growth," Numis writes. The strong 2015 and 2016 movie line-up will help boost UK cinema market admissions, the brokerage firm says and has an add recommendation on stock. Shares currently trade down 0.7% at 473p. (razak.baba@wsj.com; Twitter: @Raztweet)
        0917 GMT Diageo shares slip 2.2% to 1925p after the Guinness to Baileys producer released underwhelming 3Q results. "Volume was down 1.7% in 1Q-3Q and down 0.8% in 3Q. The 3Q is not a big quarter but the net sales trends overall are, we believe, a touch disappointing," say analysts at Numis. The brokerage adds that the shares have traded in a range of 1700-2000p over the last 12 months, "and we find it difficult to identify a catalyst that will move the stock out of this range in the near term." Numis has a hold recommendation and a 1800p target price. (nick.cawley@wsj.com)
        0842 GMT [Dow Jones]--Investec expects WH Smith's FY consensus forecasts of GBP120M in underling full-year pretax profit to nudge up by 1%, on the back of 1H numbers. "We view WH Smith as a play on International Travel backed by a solid, cash generative High Street business," Investec says. Adds the valuation doesn't reflect double-digit EPS growth opportunity, or cash generative abilities. Retains GBP121M FY underling pretax profit estimate and a buy, with 1,500P target price. The books and stationary retailer has reported a adjusted pretax profit of GBP73M for 1H. Shares trade 0.5% lower at 1,395p. (tapan.panchal@wsj.com)
        0835 GMT [Dow Jones]--Numis Securities starts DFS Furniture PLC (DFS.LN) at hold, with 290P target price. Says the company stands to benefit from a steady demand recovery, market share growth, profitable space expansion and leverage over fixed costs. Forecasts DFS to deliver sales +6.5% and EBITDA +7.3% CAGR for the three years FY15-17. DFS shares trading 3.03% higher at 272P. (tapan.panchal@wsj.com)
        0737 GMT [Dow Jones]--Berenberg initiates coverage on U.K. property portals, starting Zoopla with a buy recommendation and 250p target price and Rightmove with a hold recommendation and 3200p target price. Says Righmove's shares have increased by 45% since the end of September and are now fairly priced. By contrast, Zoopla is attractive on an absolute and relative basis and has free-cash flow yield of 4.9%. Zoopla trades 3.3% higher at 202p and Rightmove trades 0.7% lower at 3133p. (nick.cawley@wsj.com)
        (END) Dow Jones Newswires

        April 16, 2015 06:31 ET (10:31 GMT)

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