Smaller companies report: Monday close
SMALL CAPS closed higher today, mirroring strength across the blue-chip index, while strong gains in Conival and Designer Vision also helped sentiment, dealers said.
The FTSE Small Cap index closed 7.94 points higher at 3,525.6, while the FTSE 100 index was up 13.1 points at 5,772.4.
Conival shares stood out with a gain of 0.88p to 4.5p, after the health food group announced that the first products under its new SPARKY brand have been launched in over 200 Sainsbury stores around the UK and in Selfridges Food Hall in London.
The SPARKY range includes Pomegranate & Apple juice drink and Orange both incorporating Omega 3.
Designer Vision shares were also in demand, up 0.50p at 2.87p, as the supplier of portable and in-car entertainment systems confirmed its appointment by Renault UK to supply a Rear-Seat Entertainment system for the Espace.
Elsewhere, Gold Oil shares gained 0.87p to 5.87p, boosted by positive comments in the Sunday Times. Peter Shearlock added the stock to his portfolio, noting that it seems 'a bargain'.
Dwyka Diamonds was another riser, up 3½p at 32½p, after the Aim-listed Australian group said it recovered macro diamonds from two bulk samples taken from its South African Bosele project.
Reneuron shares also stood out with a gain of 2p to 22p after the stem cell research company announced that it has received further positive pre-clinical efficacy data with its ReN001 stem cell therapy for strokes.
Adventis Group meanwhile, edged up 3p at 32½p as the marketing and ad group forecast full-year sales and pretax profits above market expectations.
Looking ahead, the group said trading has remained strong, with good growth in sales and profitability, both organically across all businesses and through acquisition.
Yoomedia was another positive feature, gaining 0.25p to 7p, after a bullish set of full-year results. Yoomedia said its 2005 results are in line with its revised expectations.
The new media group announced that its losses before interest, tax, depreciation and amortization narrowed to £2.9m from £7.2m in 2005, as sales jumped to £84.5m from £21.2m.
On the downside, Galahad Gold shares lost 1½p to 10½p, following negative news concerning its majority-owned listed mining unit International Molybdenum, down 3p to 14p.
International Molybdenum, which is 78% owned by Galahad Gold, announced that it will delay the Malmbjerg molybdenum project in Greenland for up to a year due to 'the harsh Arctic winter'.
International Molybdenum said additional work and analysis on the costs and plans will be needed before the feasibility study can proceed.
FirstAfrica Oil shares were also under pressure, sliding 0.22p at 3.93p, following its preliminary full-year results after the close on Friday and news of an acquisition.
FirstAfrica said it agreed with its majority shareholder Energem Resources to exercise an option to acquire Energem Petroleum Corp Chad for £35.4m in shares.
Separately, the company later released unaudited figures showing it incurred a pretax loss of $16.07m in the nine months to November, compared with a loss of $1.48m for the year to February 2005.
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