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09:56GMT 12Jan2009-Imagelinx up on "encouraging" update
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Shares in Imagelinx, the graphic brand management firm, rise 37.5
percent after the company provides a trading update which Seymour Pierce analyst
Ian Robertson describes as "encouraging".
Imaglinx confirms in the update that it has won a contract with a major
global healthcare brand, which it estimates would lead to annual sales of 750,
000 pounds.
"The business is making clear progress in building its client base, revenues
and profitability," says Robertson.
The broker says it is encouraged the company has made a month-on-month
progress, given the wider economic slowdown in November and December, and says
the company has worked to reduce costs.
It adds the company should benefit from the strength of the euro and US
dollar versus the pound as revenues are reported in these currencies.
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09:54GMT 12Jan2009-Pawnbroker H&T rises after trading update
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Shares in pawnbroker H&T Group rise 8.2 percent after the company
says it expects its 2008 profit to come in higher than consensus market
expectations as consumers become increasingly thrifty amid an economic downturn.
In a note, Daniel Stewart says it will be upgrading its forecasts for 2008
by about 7-8 percent, and for 2009, by about 3-5 percent, leaving H&T trading on
a PE ratio of 7.1 times for 2008, falling to 6.6 times in 2009, and yielding 4.1
percent, rising to 4.6 percent.
The broker says it believes this represents "outstanding value",
particularly when compared to peer Albemarle & Bond that trades on a PE
of 13.5 times for 2008, falling to 12.2 times in 2009, and yielding 3.6 percent,
rising to 4.0 percent.
"We are 'buyers' of both, but see more upside at H&T Group," says the
broker.
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09:50GMT 12Jan2009-BMW rises on talk of Daimler interest
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Shares in German carmaker BMW rise 2 percent, putting them at the
top of the DAX leaderboard, with traders citing market talk of
potential interest from rival Daimler, the maker of Mercedes-Benz
cars.
Daimler and BMW are not immediately available for comment.
Some traders link the market talk to a Credit Suisse Automobiles &
Components sector research note, which says "The time is ripe for consolidation;
looking to 2010 and beyond".
"Since credit expansion can no longer be relied upon to push volume,
consolidation is needed to deliver economies of scale," Credit Suisse says,
adding: "consolidation could prove a turning point for the sector."
Credit Suisse sees 4.5 billion euros in potential efficiency gains if BMW
and Mercedes "collaborated more closely".
Daimler shares are down 0.9 percent. The DJ Stoxx auto index is down 1.4
percent.
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09:44GMT 12Jan2008-Elringklinger gains on Goldman upgrade
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Shares in Elringklinger gain 2.6 percent making them one of the
few gainers among German small caps after Goldman Sachs upgrades its
stance on the auto parts supplier to "neutral" from "sell", raising its price
target to 7.6 euros per share from 5.0.
The brokerage says in a note to clients that it sees a more balanced
risk/reward profile for ElringKlinger shares at its new share price.
"We continue to regard ElringKlinger as well-positioned to benefit from
increased industry focus on power-train efficiency and CO2 emissions over the
coming years, through its attractive technology portfolio," the brokerage says.
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