Smaller companies report: Thursday close
SHARES in UK smaller companies closed higher, shrugging off an early fall on Wall Street that undermined sentiment among the blue-chips.
At the close, the FTSE SmallCap index was 1.8 points higher at 3,513.7 while the FTSE 100 index ended 54.3 points lower at 5,747.3.
Biofuels stood out, jumping 34½p to 160p following confirmation that it has secured finance to enable it to start production of biodiesel by the end of this month.
Gold exploration company Ariana Resources added 2p to 12.75p as it reported high gold and silver grades at its 100%-owned Kepez gold prospect in Balikesir Province in western Turkey.
Northacre, the development manager, architect and interior designer for residential property schemes, topped the small cap leader-board. It extended yesterday's gains by 3.13p to 11.0p as investors warmed to Wednesday's news of the group's joint venture with Minerva.
News that it is to sell an 86.5% stake in the Seven Heads gasfield for £5.7m pushed Ramco Energy 3¾p higher at 31p.
ADVFN added 0.45p at 4.22p after it announced the launch of an online poker room for the 650,000 registered users of its stocks and shares information website.
And DA Group, a provider of character animation software and services, says it has signed five new contracts with international mobile content providers. DA's shares moved ahead 4½to 59½p.
BP Marsh & Partners notched up a reasonable premium as it made its trading debut on Aim. Shares in the company, a niche capital provider to early stage financial services businesses, advanced to 151½p from a placing price of 140p in volume of 96,937.
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On the downside, shares in Healthcare Holdings dropped more than 55% in value, shedding 2.50p at 2.0p as trading in the stock was restored on Aim accompanied by news that possible reverse takeover talks have been terminated. The group said it continues to seek suitable targets for acquisition.
Star Energy Group lost 8¼p at 300¼p after it revealed the cost of constructing its Humbly Grove gas storage project came in about 17% over budget and that it is reviewing these costs with contractor Amec because it considers them to be 'unacceptable and excessive'. The matter may have to go to artibitration.
Chocolate maker and retailer Thorntons fell 7¾p to 138p. Discussions regarding a management buyout have been terminated and chairman Christopher Burnett, is to leave the company. Broker Seymour Pierce downgraded the stock, saying it could see no other potential bidders.
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