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STOCKS NEWS EUROPE-FTSE small caps up 0.5 pct at the close

Thu May 7, 2009 12:23pm EDT

Stocks

   

The FTSE Small Cap index .FTSC is 0.5 percent higher at the close of play, losing earlier momentum, while outperforming the FTSE 100 .FTSE, which retreats to finish flat, and the FTSE 250 .FTMC, which ends down 1.1 percent.

Battered newspaper publishers Johnston Press (JPR.L) and Trinity Mirror (TNI.L) extend recent gains, closing up 24.5 percent and 9.4 percent respectively, as Numis Securities lifts its target prices on the companies ahead of their trading updates, due on Wednesday.

Innovation Group (TIG.L) ends the session 20.1 percent lower after it offers a sobering outlook and says it would not be declaring an interim dividend in view of the economic environment and ongoing investment in the business, with KBC Peel hunt downgrading the software firm to "hold" from "buy".

Reuters Messaging rm://david.brett.reuters.com@reuters.net


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