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HGG - Henderson News Story

233.7p -1.1  -0.5%

Last Trade - 26/05/17

Large Cap
Market Cap £3.18bn
Enterprise Value £2.57bn
Revenue £1.69bn
Position in Universe th / 1826

Earnings, resources stocks help European shares hold at 21-month highs

Tue 9th May, 2017 5:08pm
* STOXX 600 up 0.45 pct 
    * Miners, oil stocks lend support 
    * Results buoy Davide Campari, Nets 
    * Micro Focus down after buyout target's weak update 
 (Adds closing prices) 
    By Kit Rees and Danilo Masoni 
    LONDON, May 9 (Reuters) - A raft of well-received updates 
and a recovery in resources stocks helped European shares 
rebound on Tuesday from the previous session's slight losses, 
ending at fresh 21-month highs. 
    The pan-European STOXX 600  .STOXX  index rose 0.45 percent 
while France's CAC 40 index  .FCHI  gained 0.3 percent, 
recouping some of its losses from Monday following centrist 
Emmanuel Macron's French presidential election victory. 
    "Yesterday was almost a realisation that, OK, we've cleared 
one hurdle but it's not like it's plain sailing from here ... 
But today it's looking good - the weak euro vs. the dollar is 
helping the DAX," Mike van Dulken, head of research at Accendo 
Markets, said, referring to Germany's index  .GDAXI , which rose 
0.4 percent to a record high. 
    Company results were in focus, with shares in Italy's David 
Campari  CPRI.MI  jumping 4.4 percent after the spirits maker 
reported first-quarter earnings boosted by high-margin brands. 
    Denmark's payment services provider Nets  NETS.CO  rose 2.9 
percent following its first-quarter earnings, which saw strong 
organic growth.  urn:newsml:reuters.com:*:nL8N1IB1O1 
    More than halfway into the first-quarter results season, 
earnings for European firms have been strong overall, with major 
euro zone blue chip firms seeing average earnings growth of 
around 20 percent, according to Thomson Reuters I/B/E/S data.    
    Elsewhere a rebound in basic resources stocks  .SXPP  and 
gains among energy firms  .SXEP  also helped support the market, 
with miners up after a rise in the underlying price of 
copper. MET/L    
    Shares in Belgian materials group Umicore  UMI.BR  rose 3.3 
percent, supported by a positive broker note from Berenberg 
whose analysts also upped their target price for the stock. 
Likewise Henderson's  HGGH.L  shares gained 2.3 percent after 
UBS upgraded the asset management firm to "buy" from "neutral", 
citing its planned merger with U.S. fund firm Janus Capital 
 JNS.N . 
    "Significantly enhanced scale, distribution and 
diversification see (Henderson) better equipped to deal with 
ongoing headwinds from a gradual global shift to passive and 
rising regulatory costs," analysts at UBS said in a note.    
    Shares in jewellery maker Pandora  PNDORA.CO  gave up early 
gains to end down 6.6 percent lower after its update, while 
Apple  AAPL.O  supplier Dialog Semiconductor  AAPL.O  retreated 
0.2 percent with analysts pointing to the chipmaker's weaker 
guidance for the second quarter in which it expects to see a dip 
in revenues.  urn:newsml:reuters.com:*:nL8N1IB1JK  urn:newsml:reuters.com:*:nL8N1IB1JK 
    Britain's Micro Focus  MCRO.L  slumped 5.6 percent after 
saying that revenue at Hewlett-Packard Enterprise, the U.S. 
company it is buying, dropped around 10 percent in the last 
quarter.  L8N1IB1DY    
    British utility Centrica  CNA.L  came under pressure after 
Prime Minister Theresa May pledged to cap energy prices if she 
is re-elected in June's general election. Centrica's shares fell 
1.2 percent.  urn:newsml:reuters.com:*:nL8N1IB280  
 (Reporting by Kit Rees and Danilo Masoni; Editing by Gareth 
 ((kit.rees@thomsonreuters.com; +44 207 542 2784;)) 
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