STOCKS NEWS EUROPE-HMV falls as results disappoint

STOCKS NEWS Reuters Results diary

Stocks on the move [HOT-RTRS] Real-time Equity News [E] [WEU/EQUITY]

08:27GMT 11Dec2008-HMV falls after results disappoint

-----------------------------------------------------

Shares in HMV (HMV.L) fall 5.9 percent after the retailer reports a first-half loss and says its markets have deteriorated since October.

For the 26 weeks to Oct. 25 the group, which trades as HMV and bookseller Waterstones, made a pretax loss of 27.5 million pounds. This compares with analysts' forecasts of a loss of 20 million to 27 million pounds and a loss of 28.7 million pounds in the same period last year.

Seymour Pierece downgrades the stock to "sell" from "hold".

Singer Capital Markets says the results "undershoot" and "fall short of expectation as trading conditions, especially in HMV."

But the broker maintians its "buy" rating.