BUZZ-Greene King: falls after results

** Greene King (Frankfurt: A0F66P - news) down c3 pct and among top fallers on Stoxx 600 as well as FTSE 250 in volume after reports H1 results

** Adjusted PBT down 8%

** "Trading does not seem to have got incrementally worse, but the 8% profit drop in H1 implies FY expectations may yet need to edge down 2-3%," Panmure Gordon says

** Broker says a 6% dividend yield and 8x PE indicates medium-term value -- but with no catalyst until confidence builds that earnings downgrades have stabilised

** Greene King says "We believe that market conditions are likely to toughen over the next two to three years"

** Second most actively traded stock on Stoxx 600, with 30-day daily avg volume through in

** Peer Marston's, however, +9.8 pct and set for biggest one-day rise since early 2009 after reporting FY results which Liberum calls "reassuringly in line"

** Stock second top UK midcap gainer