STOCKS NEWS EUROPE-FTSE Small Caps down 1 percent by midday
STOCKS NEWS Reuters Results diary
Stocks on the move [HOT-RTRS] Real-time Equity News [E] [WEU/EQUITY]
11:56GMT 17Feb2009-FTSE Small Caps down 1 percent by midday
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The FTSE Small Cap Index .FTSC continue to slide lower, down 1 percent, in mid session trade, as the wider UK market also retreats with the FTSE 100 .FTSE down 2.3 percent and the FTSE Mid Caps .FTMC down 2.4 percent.
Spice (SPI.L) extends losses, down 18.5 percent, after the provider of utility support services reports an inline trading update, saying the facilities marketplace and trading at its gas business have continued to soften and that it is cutting costs at both businesses.
Synchronica (DAU.L) rises 12 percent after the provider of mobile email software wins a contract with Nokia Siemans networks, which Finncap says puts the company "at the forefront of push email".
Reuters Messaging rm://david.brett.reuters.com@reuters.net
11:48GMT 17Feb2009-Cape extends falls as sale talks ends
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Shares in Cape (CIU.L) fall 9.5 percent, following news late on Monday that the oil and energy services operator has ended all talks for a possible sale of the company.
Collins Stewart says the termination of discussions is not a surprise "given contract risk and the only partially capped asbestos legacy liabilities".
The broker says risks remain about Cape's earnings and its debt/covenants. It said the sole reason for its upgrade to "buy" is on valuation grounds, noting the company's shares have effectively halved in value since Jan. 7, 2008 following the announcement that it would not meet market expectations on debt reduction targets.
Reuters Messaging rm://david.brett.reuters.com@reuters.net
