STOCKS NEWS EUROPE-FTSE Small Caps up 0.3 percent at midday
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12:25GMT 26Mar2009-FTSE Small Caps up 0.3 percent at midday
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The FTSE Small Cap index .FTSC climbs 0.3 percent in mid session trade, marginally extending earlier gains as the FTSE 100 index .FTSE slips 0.1 percent higher, and the midcaps .FTMC fall 0.2 percent.
British Boutique advisory company Cenkos Securities (CNKS.L) soars 37 percent as the company for says it has weathered the current financial crisis better than its competitors and it has attracted new clients, while cutting its final dividend to 5 pence from 12 pence.
Songbird Estates SBDb.L falls 25 percent after admitting it risks breaching loan covenants in the next 12 months due to a sharp fall in the value of its properties and reporting a 70 percent decline in its underlying net asset value per share at the end of 2008
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12:22GMT 26Mar2009-Aquarius jumps on share placing plan
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Shares in Aquarius Platinum (AQP.L) jump 13.9 percent after the world's fourth biggest platinum producer announces plans to raise up to $251 million via a share placing, rights issue and convertible bond issue to pay off a bridge loan and fund operating expenses.
Evolution Securities say, "We think that Aquarius is being prudent in raising money to help service its current debt of US$158 million and to help in its 63 million pounds...offer for Ridge Mining."
Aquarius said on Feb.18 it planned to buy Ridge Mining Plc in all all-share offer consisting of one of its shares for every 2.75 Ridge shares. Evolution says, pending the outcome of the proposed placing, rights issue and convertible bond, they have their recommendation under review from "sell".
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