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STOCKS NEWS EUROPE-UK small caps end up 0.8 pct

Tue, 21st May 2013 16:02

UK small caps close up 0.8 percent, outperforming the mid-caps and the blue chips, which gain 0.6 and 0.7 percent,respectively.

Shares in Fusionex International rise 3.9 percent as the enterprisesoftware firm reports an 18 percent increase in its gross profit for the sixmonths to March.

"Fusionex delivers a better-than-expected set of maiden interim results,"Panmure says in a note, raising its target for the group to 344 pence from 336pence and keeping a "buy" stance on the stock.

Eco City Vehicles, the developer and supplier of the London licensedMercedes Vito taxi, add 3.6 percent after it reports a strong performance by theVito taxi and a sharp swing to ebitda profits.

Quixant, a provider of specialised computing platforms for gamingand slot machine applications, began trading on AIM on Tuesday.

"The business is profitable and cash generative and our projected 20 percentgrowth rate should prove conservative if it can persuade a number of the largemanufacturers to outsource," Edison said in a note.

Shares in Zytronic listed fall 1.9 percent on the FTSE AlternativeInvestment Market (AIM) index as the touch sensors manufacturer reportsa 64 percent fall in pre-tax profit.

"Zytronic's interim results this morning have confirmed the slower tradingthat was detailed in the trading update of May 10," analysts at N+1 Singer sayin a note. "As discussed at the time, visibility had not improved and mix hasbeen unhelpful leading to a much more subdued outlook for the remainder of theyear."

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

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