| UK small caps close higher, Johnson Services
LONDON (AFX) - UK smaller companies closed higher Friday, with Johnson Serices Group shares surging on the company's decision not to cut its dividend, dealers said. By the close, the FTSE Small Cap index was up 5.6 points to 4,008.3, while the FTSE 100 was 21.4 points higher at 6,339.4. Online marketing services provider Infoserve Group was up 19 pct at 47, after the company won a deal to become Yahoo Inc's official local advertising sales partner for the UK. The company said it has agreed to a multi-year exclusive term to sell featured listings to local businesses that will appear as links on Yahoo's UK web pages. Buyers also came for Cape Lambert Iron Ore Ltd, 7-1/4 better at 22, after it confirmed it is in talks with an unnamed party for the possible part sale of its iron ore project.
UK small caps remain firmer at midday, with
LONDON (AFX) - UK small caps remained higher at midday, following the positive broader market trend, with Screen FX around 17 pct higher on the back of contract news, dealers said. The FTSE Small Cap index was 4.0 points up at 4,017.3 at 12.00 pm, while the FTSE 100 was 34.9 ahead at 6,350.4. Contract news gave a boost to Screen FX, 0.06 up at 0.41 pence. The digital advertising and communications specialist has been awarded a significant contract to supply digital flat screen networks for advertising and other media content across the Land Securities' portfolio of thirteen shopping malls throughout the UK. Arc International PLC was higher in midday trade, 1-3/4 up at 47-3/4 after the group updated on trading and said it has won a 15 mln usd contract.
Premarket Movers: Autodesk, Seagate
A cheery analyst note on software maker Autodesk Inc. helped push up shares in premarket trading Tuesday, while a sales warning from Seagate Technology hurt the stock. Autodesk advanced 96 cents, or 2.5 percent, to $39.80 in the premarket electronic trading session, from their a Monday close at $38.84 on the Nasdaq Stock Market. Goldman Sachs analyst Sasa Zorovic lifted his rating on the stock to "Buy" from "Neutral" and raised his target price to $44 from $40. Zorovic said the company is enjoying strong sales in the current quarter, and is unlikely to face a slowdown ahead, despite the broader economic sluggishness. "We are increasingly comfortable the company may deliver top-line performance at the high end of guidance for this quarter, with the momentum carrying over into subsequent quarters," wrote Zorovic.
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