LONDON, Sept 8 (Reuters) - STOCKS NEWS Reuters
Results diary
Stocks on the move Real-time Equity News
08:56GMT 08Sept2008-Eckoh gains on telephony contract win
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Shares in Eckoh Plc. jump 4.6 percent after the speech recognition
services company wins a three year multi-million pound contract from an unnamed
global financial services company.
"Technically this is an interesting development as Eckoh has collaborated
with BT to build a voiceXML. This is clearly a landmark account and should lead
to further such deals," Seymour Pierce says.
"Whilst Eckoh remains undervalued relative to its cash position, today's
news adds a further dimension to the story as the company opens up the European
market opportunity," adds the broker, retaining its "buy" recommendation.
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08:28GMT 08Sept2008 - Ferrovial jumps on Belfast airport sale deal
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Shares in Spain's Ferrovial jump 8.7 percent after it said on Saturday it
had reached a deal to sell Belfast City Airport to ABN Amro Global
Infrastructure Fund for 132.5 million pounds ($236.4 million) that would
generate a capital gain of 85.6 million pounds.
ESR analysts say that the deal is very positive, not just because it
contributes to easing gearing ratios, but also because of the price obtained,
which compares very favourably with recent regional airport sales in the UK.
"It highlights the value of other UK airports, several of which are
likely to be sold in the coming months," a Madrid-based trader says.
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Reuters Messaging rm://judith.macinnes.reuters.com@reuters.net
08:18GMT 08Sept2008-UK housebuilders soar on GSEs move
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Shares in UK housebuilders soar on hope the move by the U.S. government
to take control of mortgage giants Freddie Mac and Fannie Mae will bring some
stability back to housing markets.
Barrat Developments jumps 12.3 percent, Taylor Wimpey adds 11.3 percent,
Persimmon gains 9.3 percent, and Redrow firms 6.3 percent.
Bovis Homes up 8.0 percent is helped as well by an upgrade in rating from
Goldman Sachs in a European construction review.
Goldman Sachs hikes its stance for Bovis to "neutral" from "sell" and
raises its target price to 421 pence from 325.
The broker also ups target prices for other UK housebuilders as it thinks
the sharp decline in sector share prices since the start of 2008 could be seen
as a trigger for Merger & Acquisitions activity.
However Goldman says it believes the near-term likelihood for sizeable
M&A deals in the construction sector is limited due to stretched balance sheets,
further pressure on earnings and cashflow in 2009, and the presence of blocking
shareholdings.
Reuters Messaging rm://jon.hopkins.reuters.com@reuters.net
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