STOCKS NEWS EUROPE-James Fisher higher after update

Shares in James Fisher and Sons (FSJ.L) gain 2.4 percent after the marine services provider says trading in the third quarter was in line with management expectations and very similar in pattern to trading in the second quarter.

Brewin Dolphin repeats its "buy" rating on the stock, while retaining its forecasts for this year and next.

The broker says in a note whilst the mature tanker operation is suffering from the recession and contributing almost zero profit to its forecast period, the marine support service businesses continue to prosper.

"We retain our price target of 546 pence and see current price levels as a very attractive entry point into a high quality stock that is still forecast to grow earnings this year despite the loss of about 6 million pounds of contribution from tankships," it says.

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