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STOCKS NEWS EUROPE-UK small caps advance, AGA strong gainer

Fri, 15th Nov 2013 17:13

The FTSE Small Cap index edges up 0.1 percent, while the FTSE AIMindex slips 0.1 percent, lagging a 0.4 percent rise on the FTSE 100.

Shares in AGA Rangemaster rise 6.7 percent as the kitchen furnituremaker says its cooker orders are up by more than 15 percent so far this year.

Volume on the stock, which closes at 131.75 pence, is nearly four times itsaverage for the past three months.

"Aga has, this morning, released an upbeat IMS (interim managementstatement)," Espirito Santo says in a note, raising its fair value for the stockto 145 pence from 95 pence.

"There is little change in the shape of the P&L (profit & loss) for FY13ebut assuming no more than a continuation of second half top line trends intoFY14e, we make material changes to our estimates for the outer years."

Shares in Antrim Energy shed 27.7 percent, the top fallers on theAIM index, as the oil & gas exploration and production company sees its net lossmore than treble year on year to $16.1 million in the three months to the end ofSeptember.

Volume on the stock is around 11 times its average.

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

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