STOCKS NEWS UK SMALL-Summit climbs after zebrafish unit sale
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08:17GMT 07May2009-Summit climbs after zebrafish unit sale
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Shares in Summit Corp PLC (SUMM.L) rise as much as 8 percent after the drug discovery company sells its zebrafish screening business to Germany's Evotec (EVTG.DE) for 500,000 pounds in cash.
"It's quite neat because it saves them laying a lot of people off," says analyst Shawn Manning at Singer Capital Markets, adding that it allows Summit to concentrate on its iminosugar drug discovery platform.
To see the statement click on [ID:nHUgBVPSVa].
Reuters messaging rm://ben.deighton.thomsonreuters.com@reuters.net
08:15GMT 07May2009-Innovation down on uncertain outlook
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Innovation Group Plc's (TIG.L) shares fall as much as 15 percent after the software company says the current economic uncertainty makes it difficult to predict the future even as it posts a higher adjusted pretax profit for the first half.
Analyst Jonathan Imlah of Altium Securities says: "Although Innovation's H1 results reveal growth in revenues and profit, the operating backdrop remains very challenging and the outlook suggests that full year estimates are not yet in the bag in spite of outsourcing revenues now accounting for a full 83 percent of group sales."
The brokerage has a "sell" rating and a price target of 8 pence on the stock.
For more click on [ID:BNG435484].
Reuters messaging rm://ttresa.sherin.reuters.com@reuters.net
08:04GMT 07May2009-Antisoma rises as confirms on track
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Shares in cancer specialist Antisoma (ASM.L) rise as much as 3.5 percent after the company's clinical program development and cash position meet expectations.
"Antisoma's interim management statement confirms the company's pipeline remains on track and cash spend in line with our expectations," said Nomura Code analyst Samir Devani in a note to clients.
To see the full article please click on [ID:nL7442804]
Reuters messaging rm://ben.deighton.thomsonreuters.com@reuters.net
08:00GMT 07Mar2009-FTSE Small cap index up
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The FTSE Small cap index .FTSC gain 1 percent early as the wider UK market makes gains on the back of a strong finish on Wall Street .DJI, with the FTSE 100 .FTSE up 1.2 percent and the FTSE 250 .FTMC up 1 percent.
British construction firm Costain Group Plc (COSG.L) rises 9.6 percent after saying it has secured higher revenue to date for 2009 than last year and its trading has been in line with its expectations.
Zotefoams (ZTF.L) falls 6.6 percent following its update in which the company says trading remains challenging and it is continuing cost control initiatives including a redundancy programme.
"The market has clearly anticipated a downturn in near term fortunes, with the shares almost halving over the last 9 months," says Evolution Securities.
Reuters Messaging rm://david.brett.reuters.com@reuters.net
