Smaller companies report: Thursday close
UK small caps close higher after a raft of positive earnings updates provided support. By the close, the FTSE Small Cap index was 11.6 points higher at 3,408.5, while the FTSE 100 finished up 3.6 points at 5,735.1.
Among the risers, Caspian Holdings jumped 8p to 16½p, after the oil and gas group said oil production from four out of five wells covered by its workover programme at the Zhengeldy field in Kazakhstan has been steadily increasing.
Elsewhere, record maiden results and news of expansion into the major market of United Arab Emirates boosted recent Aim newcomer Driver Group 10p to 74½p. The company, which provides specialist commercial and dispute resolution services to the construction industry, has concluded a significant agreement in Abu Dhabi.
Xaar was another riser, up 18¾p at 302¼p, after the inkjet printing technology group said trading remained strong during the second half of the year and the results for the 12 months to end-December were ahead of market expectations.
hoenix IT gained 28¼p to 294¼p after it was successful in renegotiating an EDS contract to supply department of work & pensions in the UK. House broker UBS said the deal removed a significant overhang on its shares. Buyers also came for Colliers CRE, 15½p better at 173p, after the UK real estate consultancy group said it has continued to demonstrate a strong performance across the business in the second half, particularly within the areas of investment and valuation.
On the bid front, Brandon Hire shot up 20½p to 189p amid talk that Speedy Hire, unchanged at 830p, is planning to gatecrash management buyout talks.
Elsewhere, Bateman Engineering notched up a gain of 15½p, at 293½p, in response to news that the company has been awarded by Equinox Minerals a major mining engineering contract in joint venture with Ausenco, an Australian-based engineering group. The contract is estimated to be worth $200m.
Among the losers, Bright Things tumbled 1534;p to 39½p after warning that pretax loss for the year ending March 31 will be between £4.5 and £5m.
Sports Cafe was also under pressure, easing 3½p to 29½p, after accompanying its second-half trading statement with a warning that its full-year results will be hit by weak trading.
Most watched Money videos
- Skoda reveals Skoda Epiq as part of an all-electric car portfolio
- Fiat pledges to cease grey car production as they launch new EV
- BMW meets Swarovski and releases BMW i7 Crystal Headlights Iconic Glow
- 'Now even better': Nissan Qashqai gets a facelift for 2024 version
- Tesla unveils new Model 3 Performance - it's the fastest ever!
- Mercedes has finally unveiled its new electric G-Class
- How to invest for income and growth: SAINTS' James Dow
- 2025 Aston Martin DBX707: More luxury but comes with a higher price
- Land Rover unveil newest all-electric Range Rover SUV
- Blue Whale fund manager on the best of the Magnificent 7
- Mini Cooper SE: The British icon gets an all-electric makeover
- Mini celebrates the release of brand new all-electric car Mini Aceman
- Avon Protection handed £38m gas mask contract by MoD
- Ford confirms it will cull another of its best-selling...
- Bank of England paves way for Britain to cut interest...
- Watches of Switzerland buys Italy's Roberto Coin Inc for...
- ITV hit by Hollywood strikes as it pins hopes on Euros...
- Why we need more than a British Isa to move the dial on...
- Mortgage rates are climbing again - should we be worried?...
- Used car sales hit a five-year high as fresh supply of...
- BUSINESS LIVE: BoE base rate decision; ITV eyes ad market...
- BAE Systems tools-up for growth as Britain plots defence...
- Vodafone told to boost security as £15bn Three merger is...
- ITV hopes for summer ad boom as it continues to reel from...
- Takeover target Wood Group hit by slump in revenues as...
- Cameron left red-faced as Greensill sues Government over...
- BBVA goes directly to shareholders as it steps up bid for...
- Bailey pulls his punches on interest rates yet...
- MARKET REPORT: North Sea giant Harbour closes in on £9bn...
- Snoop Dogg cannabis firm to ditch London after losing 97%...