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STOCKS NEWS EUROPE-UK small caps up 0.1 pct, lag blue chips

Wed, 10th Apr 2013 12:30

UK small caps are up 0.1 percent in afternoon trade, underperformingrises of 0.8 percent on both the mid-caps and the blue chips.

Shares in Akers Biosciences jump 22 percent to 1.45 pence after themaker of rapid diagnostic screening and testing products says it expectsfull-year sales to be "significantly ahead of current forecasts".

The trading update prompts Daniel Stewart to raise its sales forecasts forthe year to $4.5 million from $3.5 million and increase its price target on the'buy'-rated stock to 3.0 pence from 2.2 pence.

Shares in Genel rise 6.5 percent, boosted by news of a significantdiscovery at the Chia Surkh 10 well.

"The light oil discovery and impressive flow test results are encouraging,"analysts at Liberum Capital write.

"However, legitimate concern remains over the outlook in Kurdistan and weremain cautious pending a tangible framework defining availability of exportmarkets and payments. Ahead of further appraisal our forecasts are unchanged."

Reuters messaging rm://antonina.vorobyova.thomsonreuters.com@reuters.net

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