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STOCKS NEWS EUROPE-UK small caps down 0.2 pct, outperform market

Wed, 17th Apr 2013 09:03

UK small caps shed 0.2 percent, outperforming the mid-caps and the blue chips, down 0.5-0.6 percent.

Shares in Amerisur Resources rise 1.4 percent as the SouthAmerica-focused oil and gas producer reports a nearly 500 percent rise infull-year (FY) profit helped by a steep increase in production.

"Amerisur's FY 2012 results demonstrate what a transformational period thelast year was for the South American-based E&P (exploration and production)company," analysts at Investec Securities say in a note, reiterating their "buy"stance.

"In the next 12 months, we see scope for further reserve upgrades as itcompletes its drilling programme at Platanillo and we also highlight buildingactivity in its growing exploration inventory in Colombia and Paraguay."

Sepura rises 9 percent as the digital communications firm says itexpects revenues and profits for the year expected to be ahead of marketforecasts.

Reuters messaging rm://francesco.canepa.thomsonreuters.com@reuters.net

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