STOCKS NEWS EUROPE-IPF rises on favourable hedge

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11:36GMT 07Jan2009-International Personal Finance up on FX hedge

---------------------------------------------------------------- Shares in International Personal Finance (IPF.L) rise 5.3 percent after the company announces it has hedged the majority of forecast central European profits at rates 4 percent more favourable than those used to translate results for the 2008 financial year.

Ian Poulter, Teathers' analyst, says: "Central Europe GDP growth remains likely to outstrip Western economies. IPF's prudent approach to lending and funding provides a solid operating base."

Teathers, which has a "buy" recommendation and a target price of 250 pence, says: "New business opportunities should stand it in good stead in the current environment."

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11:34GMT 07Jan2009-Telekom Austria drops 5 pct as CS downgrades on CEE