BUZZ-Howden Joinery: testing October lows as sterling weakness bites
** Howden Joinery (Other OTC: HWDJF - news) falls 4.3 pct after N+1 Singer downgrades to "hold" from "buy"
** Broker says weaker sterling against the dollar and euro likely to hit gross margins by £8-9 mln at current levels
** Leads to a 1 pct downgrade in 2016 and 2017 earnings, but Singer cuts TP by 5 pct, saying further margin headwinds likely
** Among most traded by average volumes on Stoxx 600 with 1.2x 30-day average in the first two hours
** Stock sees worst day - and at its lowest level - since October 2015
(RM (LSE: RM.L - news) : alasdair.pal.thomsonreuters.com@reuters.net)