STOCKS NEWS EUROPE-Homag plunges on preliminary FY results

STOCKS NEWS Reuters Results diary

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08:21GMT 18Feb2009-Homag plunges on preliminary FY results

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German engineering company Homag (HG1G.DE) drops 10.3 percent, the biggest decliner in Frankfurt's smallcap index .SDAXI, after the company said late on Tuesday its full-year sales came in at 856 million euros ($1.08 billion), up 2.3 percent from last year, but below the company's target of about 6 percent.

"Worse than expected preliminary FY08 numbers should weigh on stock," a local trader says.

The company also says it expects a weak first and second quarter of 2009.

For more double click on [ID:nEQfoulfyu] ($1=.7908 Euro)

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08:44GMT 18Feb2009--FTSE Small Caps fall in early trade

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The FTSE Small Cap Index .FTSC is down 0.1 percent in early trade, as the FTSE 100 .FTSE rises 0.3 percent, while the FTSE Mid Caps .FTMC index falls 0.1 percent.

European Nickel (ENK.L) soars more than 51 percent after announcing it has secured the approval of the forestry permit for its Caldag nickel laterite project in Turkey.

"This excellent (and long awaited) news should allow the company to regain positive share price and operations momentum this year," says Brock Salier, analyst at Ambrian.

Hotelier Millennium & Copthorne (MLC.L) falls 5 percent after saying it would halve its 2008 dividend payout to preserve cash.

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