Stocks News Europe: UK small caps up as broader market falls
24/03/2014 12:02
The FTSE Small Cap index .FTSC rises 0.2 percent, outperforming junior-listed AIM shares .FTAI , mid-caps .FTMC and blue chips .FTSE , down between 0.3 percent and 0.5 percent. Shares in Ormonde Mining ORM.L rise 9 percent as Noble Group agrees to purchase all tungsten concentrate produced from Ormonde's Barruecopardo open pit mine during its first five years of operation. ID:nRSX9418Ca Ormonde says the deal would generate net revenues of more than $350 million from tungsten concentrate sales over the five years, based on current estimates and tungsten prices. "A positive tick for the company as it moves towards completing permitting," analysts at Numis write in a note. Miton Group MGRM.L rises 1.1 percent to 49 pence as the AIM-listed fund management group reports a 20.5 percent increase in profits before tax (PBT) and a 14.2 percent increase in adjusted earnings per share (EPS). ID:nRSX9504Ca "Prelim results have exceeded our expectations," analysts at Peel Hunt, which acts as a nominated adviser and broker for the firm, write in a note, raising their price target for the stock by 9 percent to 50 pence, with an unchanged "hold" recommendation. Reuters messaging rm://francesco.canepa.thomsonreuters.com@reuters.net Keywords: MARKETS EUROPE STOCKSNEWS