European Movers: Sainsbury, EADS, UBS
SAINSBURY was down £1.15 to £4.40... Delta Two drops bid; Panmure ups forecasts - Delta Two has terminated takeover talks with the company , saying that it is not in the best interests of stakeholders to proceed with an offer. Delta Two adds required funding and cost of capital had increased significantly, which has adversely affected the investment case. Delta Two has a 25% stake in the company the company in a separate statement confirms the termination of the Delta Two offer. Panmure Gordon says believes that the business is trading well and this should be revealed in the interim results next week. Increases forecasts to above consensus. Rates hold with a £5/sh target. Increases forecasts for 2008 to £501 million from £453 million and for 2009, to £600 million from £512 million.
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