Reuters: Hot Stocks: STOCKS NEWS THAILAND-Sahaviriya Steel surges on British plant

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STOCKS NEWS THAILAND-Sahaviriya Steel surges on British plant Apr 17th 2012, 03:47 Mon Apr 16, 2012 11:47pm EDT Shares in steelmaker Sahaviriya Steel Industries Pcl jumped 6.7 percent to its highest in three weeks at 0.80 baht as it restarted its blast furnace in Teesside, Britain, after delays since December. Brokers expected the British plant to be profitable from the fourth quarter when it was fully operational. Broker Trinity Securities rated the stock hold, with a target price of 0.75 baht, on expectations that high staff costs at the British plant would weigh on the company's first-half earnings when the plant was running at low capacity. Sahaviriya's shares were up 5.3 percent at 0.79 baht and have gained 11.3 percent so far this year. 1032 (0332 GMT) (Reporting by Viparat Jantraprap in Bangkok; ; Editing by Martin Petty)

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