Last checked at 
The FTSE Small Cap and junior-listed AIM All Share equityindexes are flat in early morning trading, slightly underperforming 0.1 percentgains on the blue-chip FTSE 100 index and on the FTSE 250 mid-cap index.
Asset finance and equipment leasing company 1PM surges 15.8 percentafter stating in a trading update that it expects to report "significant revenueand profit growth".
The bullish update from 1PM leads brokerage WH Ireland to reinstate a "buy"recommendation on the company's shares.
"Though small, 1PM is building a track record of very decent growth and assuch deserves a rating at least in line with other speciality financials,"writes WH Ireland in a research note. WH Ireland is a house broker to 1PM.
Salamander Energy also rises by 6.4 percent after winning rights toan oil block near Malaysia.
Diamond exploration company Karelian Diamond Resources fallsby 26.4 percent after placing 46.7 million new ordinary shares to raise 700,000pounds ($1.15 million) before expenses.
($1 = 0.6087 British pounds)
Reuters messaging rm://sudip.kargupta.thomsonreuters.com@reuters.net
