Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Charts With An Attitude; Trading In & Out -- Ignore unavailable to you. Want to Upgrade?

To: Linda Kaplan who wrote (3904)	11/24/1997 6:40:00 AM
From: Sandra	Read Replies (1) \| Respond to of 4701

Linda, Early morning PR news...... onday November 24, 5:15 am Eastern Time Safeway up on merger talk, DMG upgrade LONDON, Nov 24 (Reuters) - Shares in Safeway Plc rose in a broadly declining broad market on Monday amid renewed speculation that the UK supermarket chain may have resumed merger talks, dealers said. In addition, Deutsche Morgan Grenfell (DBKG.F) said it upgraded its recommendation on the stock to ''overweight'' from ''neutral,'' citing valuations. By 0958 GMT, the shares were up 8p, or 2.5 percent, to 327. They were among the most actively traded shares in London, with total volume registering more than 3.9 million. Dealers said the shares got an initial boost from renewed talk that Safeway may have resumed talks with rival ASDA Plc (ASSD.L). The brokerage upgrade fuelled further gains, they said. DMG - which cut its 1997 and 1998 earnings estimates to 410 million stg and 435 million stg respectively after the group posted disappointing results - noted that the shares have underperfomed their sector by some 35 percent.