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STOCKS NEWS EUROPE-UK small caps close up 0.5 percent

Mon Oct 19, 2009 11:59am EDT

Stocks

   

The FTSE Small Cap index .FTSC closes 0.5 percent higher but still underperforms strong gains by the blue chips .FTSE and the midcaps .FTMC, up 1.8 percent and 1.3 percent respectively.

Chemicals firm Yule Catto (YULC.L) is the top small cap gainer, up 19.7 percent after it says third-quarter performance beat its own estimates, helped by cost control measures, and that it expects full-year underlying pretax profit to substantially exceed 2008. [ID:nBNG493367]

Retailers French Connection (FCCN.L) and Laura Ashley ALY.L are big fallers, shedding 6.2 percent and 5.8 percent, respectively, amid caution on the high street ahead of mid cap Debenhams' <DEB.L full-year results on Thursday.

Altium Securities cut its rating on the department stores group to "hold" from "buy" on Monday in a preview of the results.

Reuters Messaging rm://tricia.wright1.reuters.com@reuters.net


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