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Stocks on the move [HOT-RTRS] Real-time Equity News [E] [WEU/EQUITY]
09:51GMT 18Nov2008-TA Triumph-Adler rockets; Kyocera makes bid
Shares in German office technology company TA Triumph-Adler TWNG.DE soar 147.2 percent, after Japanese major shareholder Kyocera (6971.T) says it offers 1.90 euros ($2.40) per share for the company in a voluntary public takeover offer.
“At first glance, the offer appears attractive. We expect however more details from the bidding documents as soon as they are published,” Equinet analysts write in a note.
The shares closed at 0.720 euros on Monday, and are up at 1.78 euros at 0951 GMT.
“For the time-being, we set our recommendation and our target price under review,” they add.
Most recently, Kyocera held nearly 30 percent in the company. For more double click on [ID:nWEB1760]
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09:44GMT 18Nov2008-Spring Group eases as trading softens
Shares in Spring Group Plc SPGR.L ease 3.0 percent to 24.25 pence after the recruitment and workforce management company says trading has softened in the third quarter of 2008 — traditionally its strongest period.
Altium Securities says the greatest impact has been in the group’s financial services division, which accounts for a quarter of sales and 15 percent of net fee income. It has reduced its full year earnings per share forecast by 24.5 percent, while for the next two years the broker has cut its estimates by 8.8 percent and 17.2 percent respectively.
Altium has also reduced its target price for the stock from 35 pence to 25 pence, but retains its “hold” recommendation for the shares.
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