UK small caps shed 1.1 percent in early deals, led lower by a hostof resource stocks on the back of concerns over contagion in the euro zone afterCyprus' planned levy on bank depositories, with the mid-caps and theblue chips each down 0.7 percent.
Pennant International Group, the AIM quoted supplier of integratedlogistics support solutions, products and services leased, rallies 56 percentafter announcing that it has been awarded a contract worth approximately £16million over 5 years.
The contract is the largest ever won by the Group and is for the developmentand through life support of training equipment. It has the potential forextensions up to 20 years, according to the firm.
Amerisur Resources rises 3 percent after announcing an update onits operations in Colombia.
"We expect such positive operations updates that show that it is on track toachieve its production and resource progression targets to move the share pricetowards our risked net asset value of 62 pence-per-share," Oriel Securities saysin a note.
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