Smaller companies report: Monday close
SHARES in UK smaller companies closed higher today at the day's peak, tracking a rally by the broader market, with Block Shield a strong gainer after US contract news.
At the close, the FTSE Small Cap index was 12.2 points firmer at 3,580.3, at the session high, having hit a low of 3,567.9. The FTSE 100 index ended 15.4 points higher at 5,875.9.
Shares in Block Shield took on nearly 17%, adding 23p to 159½p after the group announced the sale of its first RFID manufacturing machine to Mu-Gahut for $800,000.
Mu-Gahut is a 100% Native American-owned technology marketing company.
Shares in Petards took on 0.12p at 1.12p after the surveillance systems developer announced that it has been awarded contracts worth £2m for the supply of missile warning equipment and spares to the Royal Navy and Army Lynx Aircraft.
Contract news also helped Designer Vision shares gain 0.25p to 2.5p. The group said it has been awarded a Rear Seat Entertainment project by Nissan.
Another contract news beneficiary was Intelligent Environments, 0.25p firmer at 3p after the company said it has won contracts worth more than £500,000 to update Internet application platforms from two of its biggest existing customers.
Bartercard shares were strong too, up 1½p to 15½p after the business-to-business trade exchange said it has raised £4.14m via the issue of convertible notes, and has obtained dual listing on the Frankfurt Stock Exchange.
The company said it has issued the notes, convertible into 18m new shares, at a conversion price of 23p per share.
Regal Petroleum shares were late gainers, adding 11p at 91p following news at the close that a court ruling has allowed the firm to restart production at its operations in Ukraine.
Meanwhile, Petra Diamonds shares added 6½p to 71½p after news its Kono joint venture diamond project with Mano River in Sierra Leone is on track and on budget to start diamond production by June this year.
And shares in Central African Mining & Exploration gained 4p at 42p after the mining, trading and investment company announced it has raised £29m via a placing of 96.6m shares with leading UK and international institutions.
On the downside, shares in Maiden Group shed 29p at 35½p after the outdoor advertising group revealed that bid proposals it has received to date value the company 'materially below' its current share price.
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