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STOCKS NEWS EUROPE-FTSE Small Caps close down 1.5 pct

Thu May 21, 2009 11:55am EDT

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The FTSE Small cap index .FTSC is 1.5 percent lower at the close, after the UK market suffered a torrid session following a downgrade by ratings agency Standard & Poor's of its outlook for the UK economy, with the FTSE 100 .FTSE and the FTSE 250 .FTMC indexes ending 2.8 and 2.9 percent lower respectively.

Aim-listed Pursuit Dynamics (PUDY.L) falls 15.9 percent after announcing that the trial installation of its PDX Ethanol Reactor Tower with Iroquois Bio-Energy Company of Rensselaer, Indiana has been temporarily suspended. [ID:nRnsU6409S]

Greeting cards retailer Clinton Cards (CLCA.L) soars 37.3 percent after placing its Birthdays chain of 332 stores into administration, after the unit was hit by the economic downturn and dire trading.[ID:nLL131537]

Altium raises its rating to "buy" from "sell", saying, "this removes a loss-making business, which was not expected to recover in the short-term."

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


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