Results diary

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

15:07GMT 05Sept2008-Endesa jumps on chance of Acciona stake sale

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Shares in Endesa rise 3.8 percent to 31.85 euros after the head of Enel, which jointly owns the Spanish utility with Acciona, says the Italian power company would be happy to talk to its partner about buying the 25 percent it does not already own. [ID:nL591081]

"Endesa has risen on the news, but it seems overdone. Traders are speculating," a trader at a Madrid brokerage says.

Acciona, which bought Endesa with Enel in 2007, has an option to sell its stake to Enel from 2010. The two sides are reported to be at loggerheads over management of the firm.

Acciona rises 2.7 percent to 137.76 euros against a 2.6 percent fall in Spain's Ibex index .

Reuters Messaging rm://judith.macinnes.reuters.com@reuters.net

14:55GMT 05Sept2008-Mining stocks slide despite gold rising

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Mining stocks are the biggest loser on the FTSE 100 , taking 22 points off the index, with falling copper, nickel and zinc prices and a poor global economic outlook putting pressure on shares.

Anglo American , BHP Billiton , Xstrata and Rio Tinto down between 1.5 and 4.7 percent.

"There's been negativity all week on the back of falling commodity prices," says one trader.

Reuters Messaging rm://simon.falush.reuters.com@reuters.net

1452GMT 05Sept2008-Macroeconomics dominates Monday diary

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Ecomomic data will be in focus on Monday on a quiet day for company updates.

Companies:

Associated British Foods trade

No major U.S. companies

Macroeconomic data:

0830 Eurozone Sentix index for September

0830 UK producer price inflation data for August

1900 US consumer credit data

2301 BRC retail sales data

Reuters Messaging: brian.gorman.thomsonreuters.com@reuters.net

13:58GMT 05Sept2008-Cadbury rises on Australian sale talk

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Cadbury shares rise 2.7 percent to 638.5 pence on market talk the confectionery group has appointed one of its global advisers, UBS, to sell off its Australian drinks business with analysts valuing the unit at around 600 million pounds.

In late July, Cadbury said at its half-year results that it was to review the future of its last drinks business, in Australia, after spinning off its North American Dr Pepper Snapple unit in May this year.

"The Australian business only accounts for 6 percent of group sales and looks increasingly out of place at an increasingly focused confectionery group," one analyst says.

Cadbury declines to comment.

Reuters messaging rm://david.jones.reuters.com@reuters.net

13:40GMT 05Sept2008-Stocks remain in red as U.S. opens lower

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European stocks remain in a negative territory, as U.S. shares fall in early trade after weaker-than-expected U.S. non-farm payrolls data for August. The Dow Jones industrial average and the S&P 500 both are down 0.8 percent.

The FTSEurofirst 300 index of top European shares is down 1.4 percent at 1,135.46 points, with banks and miners among the biggest losers.

The U.S. unemployment rate unexpectedly shot up to 6.1 percent in August, its highest in nearly five years, as employers cut payrolls for an eighth straight month and labour markets showed signs of accelerating decline.

Banking stocks slip, with UBS AG falling 3.7 percent, Barclays slipping 3.7 percent, Royal Bank of Scotland dropping 2.5 percent and HBOS down 1.3 percent.

Reuters Messaging: rm://atul.prakash.reuters.com@reuters.net

13:34GMT 05Sept2008-Carr's Milling up after bullish update

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Shares in Carr's Milling up 2.3 percent following a bullish trading update which predicts that the group's full year pretax profit will more than double.

The agriculture, food and engineering group says 2008 pretax profit will not be less than 12.5 million pounds, up from 5.5 million pounds, due to very strong trading across all divisions and regions.

Investec Securities says it looks to have been an exceptional year for Carr's helped to some degree by some one-off stock profits, but also boosted by the strong underlying market for agricultural products.

The broker says it has placed its estimates and target price for Carr's Milling under review and expects to up its 2009 numbers by 15 percent to 9.9 million pounds and raise its target price to 760 pence from 700 pence.

Reuters Messaging rm://jon.hopkins.reuters.com@reuters.net

12:25GMT 05Sept2008-Euro techs, telcos fall on Nokia warning

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European technology and telecoms stocks extend losses after Nokia , the world's biggest handset maker, warns that the cellphone market and its own share of that market will be weaker than previously expected.

The European technology index falls 5.2 percent and the telco index more than 1 percent, led by shares in Nokia, which plummet more than 11 percent.

Shares in chip designer ARM , whose chips are used in most mobile phones, drop 4.5 percent, while STMicroelectronics and Infineon , major wireless chip suppliers to Nokia, fall 5 and 3.4 percent respectively.

Vodafone , the world's biggest mobile group by sales, falls 2 percent.

Reuters Messaging rm://georgina.prodhan.reuters.com@reuters.net

11:52GMT 05Sept2008-FTSE small caps fall 1 pct midday

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The FTSE Small Cap index falls 1 percent in midday trade, whilst the FTSE Developed European Small caps loses 1.9 percent.

The performance of the smaller cap index is in line with the blue-chip FTSE 100 , while the pan-European small-cap index underperforms the bigger European companies.

SMG tops the small cap risers, gaining 10.6 percent on its plans to return 30 million pounds to shareholders, whilst Minerva tops the fallers, dropping 11.8 percent.

Reuters Messaging rm://david.brett.reuters.com@reuters.net

11:39GMT 05Sept2008-Corin falls as Brewin slashes target price to 125p

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Shares in Corin Group Plc. fall 1.3 percent to 129 pence after Brewin Dolphin slashes its price target on the healthcare group to 125 pence from 250 pence but keeps its "hold" recommendation after the company's "uninspiring" figures released on Aug. 28.

Brewin Dolphin says the interims make for uninspiring reading with little in the way of short-term comfort on U.S. sales.

The broker adds the new cheif executive's vision of increased focus on international sales and marketing will take time to implement and is inevitably fraught with risk.

Reuters Messaging rm://david.brett.reuters.com@reuters.net

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