LONDON (ShareCast) - Software company Micro Focus is on the slide after Goldman Sachs downgraded the stock to “neutral” from “buy” on valuation grounds, while kitchen equipment maker Aga Foodservice is cooling off after it said trading is mixed.
Sector data indicates the value of cooker sales has fallen in most international markets this year, the company said, but added that while a slowdown in housing transactions continues, it still expects to show underlying progress this year.
Anglo-Russian miner Aricom adds to the gains it made yesterday in the wake of its reassuring trading statement, when it said the current outlook remains in line with previously stated expectations.
“The financial position of the group at the end of April is not materially changed from that reported at 31st December 2007,” it said.
The group said it has sufficient internal cash resources to meet all currently budgeted work programmes for at least a further period of twelve months.
It continues to review financing options for the construction of the K&S and Garinskoye projects and is currently reviewing proposals from a number of investment banks to finance these projects.
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