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STOCKS NEWS EUROPE-AIM stocks outpace FTSE small caps at midday

Thu, 30th May 2013 11:20

The FTSE Alternative Investment Market (AIM) all-share index of UKsmall stocks rises 0.3 percent, outperforming the higher capitalisation FTSEsmall-cap index, down 0.1 percent, and mid caps, up 0.1 percent.

Shares in AIM-listed oil explorer Gulf Keystone rise 4.9 percent to159.5 pence as the Iraqi Kurdistan-focused company says one of its anotherKurdistan well struck oil.

"We view this announcement as positive, particularly when taken togetherwith yesterday's announcement of GKP's intention to seek a main market listing,"analysts at WH Ireland say in a note, reiterating their "buy" stance and 315pence target on the stock.

FTSE small-cap index is weighed down by funds invested in Japanese assetsafter the country's stock fall 15 percent in one week.

Shares in the Baillie Gifford Japan Trust are among top fallers,down 6.4 percent.

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

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