Risers & Fallers courtesy of Spreadex

Risers

Nokia, up 36%

Microsoft has agreed a deal to buy Nokia’s mobile phone business for 5.4bn euros. Nokia will also license its patents and mapping services to Microsoft. Deutsche Bank upgrades Nokia to hold from sell after the announcement with a 2.2eu price target. 

Associated British Foods, up 1.4%

BNP Paribas upgrades Associated British Foods to outperform from underperform and raises its target price to 2400p from 1728p. It notes the current European sugar market regulation that stifles competition will end in September 2017 

Centrica, up 1%

Deutsche Bank upgrades Centrica to buy from hold and raises its price target to 430p from 340p. It expects Centrica’s upstream energy business to benefit from a tighter European gas market over the coming two years, while the downstream British Gas business should return to growth against a backdrop of a recovering UK economy 

Spirent Communications, up 5%

The communications technology company have announced the CEO Bill Burns will step down from the board and leave the company with immediate effect. Eric Hutchinson will before CEO on an interim basis 

TalkTalk Telecom, up 4.6%

JPMorgan Cazenove upgrades TalkTalk Telecom Group to overweight from neutral and raises its price target to 300p from 225p. It notes that over the last year, TalkTalk has beaten expectations on TV ads and churn reduction, while pricing repair continues 

Punch Taverns, up 4%

The pub and bar operator have announced their fourth quarter trading for the 12 weeks ending Aug 17^th was strong with like-for-like net income in the core estates up 0.45 and overall profits in line with management expectations.

Fallers 

Genus, down 8%

The animal genetics company reported a drop in full year profit but said it expects an improving rate of growth from the second half of its 2014 fiscal year onwards. Adjusted profit before tax was up 2% to £47.2m and earnings per share up 3% to 55p in the year to end-June, surpassing last year’s record results 

Land Securities, down 1.7%, Great Portland Estates, down 2.5%

Deutsche bank cuts Land securities Group to sell from hold and cuts price target from 980p to 750p. they also downgrade a number of other UK property stocks effective the whole sector. JPMorgan also lowers Land securities price target from 1110 to 1040p. Following on from Deutsche Bank’s aggressive downgrades, they also downgrade Great Portland Estates rating to cut from hold 

Vodafone, down 2.5%

Vodafone shares trade over 2 percent lower after they completed the 45% sale of Verizon Wireless to US telecoms group Verizon Communications in one of the biggest deals in corporate history 

Debenhams, down 2.7%

BNP Paribas downgrades Debenhams to underperform from neutral and raises its price target to 90p from 85p. It says that “following the strong recent run in the shares, the relatively low operational gearing in a UK cyclical recovery and some downside risk to outer year forecasts, we believe Debenhams shares have run far enough and see better value elsewhere in the sector.”