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It's
deadline day for Norther Rock (NRK). Sage (SGE) say they are
trading in-line with their own expectations, but organic growth is 'moderating'. Mitchells & Butlers (MAB)
have confirmed that they have received an approach
from Punch Taverns (PUB). Wolfson Microelectronics (WLF) is claiming
strong revenue growth despite challenging market conditions. Ryanair (RYA) traffic is up 21% and
profits are down 27%, its first decline in seven quarters. Travis Perkins (TPK) say they are spending
20m to add 24m of revenue as they outgrow the market 'on a like-for-like basis'. Soco International (SIA) are
selling their Yemen operation.
Cairn Energy (CNE) has been upgraded to overweight from equal-weight by Morgan Stanley. Kingfisher (KGF) has been upgraded to buy from hold by Deutsche Bank with a 185 target. BT (BT.A) has been upgraded to neutral from underweight with a reduced target of 280 from 285 by JP Morgan.
Among the small caps, Chinese handset manufacturer ZTC say they've won a big order but their ability to fulfill it is dependent on their ability to obtain sufficient working capital. Makers of
does it/doesn't it work wireless networking equipment xG Technology (XGT) say they were profitable in January. Profitable gold recoverer and producer Goldplat (GDP) are forming a
new South African venture.
The FTSE is currently being called up 30 at 6,059 by CMC. Dow futures are currently being called up 15 at 12,758.