Smaller companies report: Thursday close
SHARES in the UK's smaller companies bounced back from yesterday's falls caused by worries over a potential crisis affecting Asian stock markets.
The FTSE SmallCap index closed 19.0 points higher at 3,409.8, while the FTSE 100 was up 29.5 at 5,693.2.
Bartercard led the way with a leap of 9p to 19p, in response to news of a strategic deal for its retail software with four Australian banks.
Aurum Mining was also in demand after announcing that it has decided for the time being to seek a debt financing rather than pursue a further equity issue. Relieved investors pushed the shares 4p higher to 36p.
Aim-listed oil explorer CDS Oil & Gas rose 1p to 8.25p after it agreed a £500,000 convertible loan from energy investment company Westmount Energy to assist the funding of its exploration programme in the Chaco Basin in northwest Paraguay.
A positive trading statement gave a boost to ITIS Holdings, up 6p at 57p. Demand for its vehicle navigation systems is higher than expected.
News of a chip and Pin technology deal with Pace Petroleum, lifted Universe Group 1¼p to 19¼p. And software solutions provider Raft International rose 0.50p to 5.50p after Financial Objects made an agreed £4m (6p-a-share) bid.
Healthcare diagnostics group Osmetech said sales for the eight-month period to December show an increase of more than 40% on the same period in 2004. All sales relate to the Critical Care division and are significantly ahead of management's expectations. The shares rose 2¼p to 32¼p.
Fashion retailer Austin Reed was 3p smarter at 92p on the strength of improved sales over the Christmas period. In the 15 weeks to January 14, like-for-like sales increased 2.7%.
Analyst Richard Ratner at Seymour Pierce shifted his stance on the stock to 'underperform' from 'sell', saying it looks as if full-year losses will be lower than expected at around £500,000 against his forecast of £2m.
On the downside, property investment company Teesland dropped 15½p to 85p after revealing that its takeover talks with a possible bidder have been terminated.
Printing group St Ives slid 45p to 274p as it warned results for the year ending 28 July 2006 will be significantly below expectations.
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