Associated British Foods gains on hopes Primark could make up for sugar weakness
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Version 0 of 1. Associated British Foods has seen its shares hit recently after a profit warning from German sugar group Suezucker. But in a positive note on the company - probably best known these days for its Primark discount fashion retailer - analysts at Morgan Stanley said the recent fall provided an opportunity for investors. The bank said: Looking at the prospects for ABF's sugar business as well as Primark, Morgan Stanley continued: ABF shares are currently 52p higher at £26.55. Elsewhere Compass has also benefited from positive City noises. The catering group has climbed 10p to 919.5p after a buy note from Societe Generale, even though the bank lowered its 2014 estimated earnings before interest and tax by 6% to take into account currency fluctuations. It said: It added that jobs growth in the US was also likely to benefit the sector. |