The FTSE Small Caps index is down 0.1 percent around midday, whilethe mid caps fall 0.3 percent, but the blue chips gain 0.1percent.
Findel falls 7.3 percent as the home shopping group's broadlyin-line trading update leads Seymour Pierce to reduce its full-year 2013 pre-taxprofit forecast to 14.5 million pounds from 16.0 million pounds, with similarrevisions also made to its subsequent year forecasts.
"Management has made encouraging progress in improving performance of thebusiness but before we consider an upgrade to our recommendation, we need to seea structural decline in net debt, forecast at circa 230 million pounds at end ofMarch 2013. In addition, most importantly, the stock has to look more attractiveon a sum of the parts basis," Seymour Pierce says in a note, retaining its"hold" rating on Findel.
StatPro Group gains 2.3 percent as Nomura Code upgrades its ratingto "buy" from "neutral" for the portofolio analysis and asset pricing firm onvaluation grounds following an in-line full-year trading update, with the brokernoting that net cash was significantly ahead of its expectations at 3.7 millionpounds, against its 2.0 million pounds forecast.
Evolve Capital soars 72 percent to 0.17 pence as the investmentgroup confirms that it has received a takeover approach from Kimono InvestmentHoldings Limited and Susan Vandyk which may or may not lead to an offer for thecompany.
Evolve says Kimono and Susan Vandyk have indicated that should an offer bemade it will not exceed 0.35 pence per ordinary share.
Reuters messaging rm://jon.hopkins.thomsonreuters.com@reuters.net
