Smaller companies report: Weds close
UK smaller companies ended higher today, with Zoo Digital, which closed 1p higher at 3.875, leading the junior index.
By the close the FTSE Small Cap index was up 20.0 at 3,511.9, while the FTSE 100 was 41.3 better at 5,801.6 with the FTSE 250 index up 103.5 at 9,276.1.
Zoo Digital was up after Ian Stewart, who resigned as the company's chief executive yesterday, acquired 714,000 shares in the company at 3.5p each. It brings his total holding in the company to 60m shares, or 18.92% of its total issued share capital.
Provalis ticked up 0.15p to 2.25p following the company's decision to sell certain assets of its pharmaceutical division, to Kogen, an independently managed pharmaceutical company, for around £10.5m.
Milestone Group picked up 0.5p to 3.125p as the media company said it was in discussions about the disposal of its three non-wholly owned radio assets and the appointment of John Sanderson as a non-executive chairman.
The company expects to receive gross proceeds from the sale of its controlling shareholdings, shareholder loans and net assets in these radio stations of around £2m.
International Medical Devices edged up 0.62p to 7.87p after the company said that its range of safe needles and syringes is to undergo clinical tests with the National Health Service, with delivery of supplies into the NHS scheduled to follow immediately.
StageCoach Theatre rose 4p to 50p after announcing a pre-tax loss of £400,000, compared with £200,000 the previous period.
But the biggest casualty was Interbulk, off 2p at 4¼p after dealers reacted negatively to news the investment firm had said it has entered into agreement to acquire UTT for €67m on a debt and cash free basis.
Millbrook Scientific dropped 1¼p to 8p, after the company warned that trading in the second half of the year has been slower than expected.
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