The FTSE Small Caps index is down 0.1 percent by around midday,underperforming gains of 1.1 percent on both the blue-chip FTSE 100 index and the FTSE 250 mid-cap index.
Lonrho, a conglomerate focusing on Africa whose businesses rangefrom the agricultural sector to hotels, slips 1.1 percent after Jefferies trimsits price target on the stock to 6.70 pence from 7.00 pence, while keeping a"hold" rating.
"Returning the group to positive 'trading profits' and improving the groupcash flow dynamics are the key areas of progress for Lonrho to demonstrate inFY13, in our view. Risks remain high," Jefferies writes in a research note.
Freight company Stobart surges 8.1 percent higher after stating itexpects full-year results moderately ahead of forecasts.
However, brokerage Killik takes a cautious view on the stock and recommendsin a note that investors "use any strength in the share price to reduceholdings."
Scottish soccer club Rangers also edges up 1.4 percent after winningthe Scottish football league's third division title over the weekend. Rangerswas demoted to the third division from the Scottish top flight last year after falling into administration last year due to financial problems.
Reuters messaging rm://sudip.kargupta.thomsonreuters.com@reuters.net