SPOTLIGHT ON SMALL CAPS
SMALL cap stocks continued their slow rally yesterday, with the FTSE small cap index adding 0.39 per cent to 2,241 points and the Aim 100 rising 0.17 per cent to 2219.
Counter-terrorism and intruder prevention specialist Eruma added over a quarter of its value to 1.75p after announcing it had signed a contract for over £150,000, the largest single order to date for its products from a UK police force.
Energy explorer BPC held steady at 2.25p after announcing a new offshore joint venture with Norway’s StatoilHydro, to launch the first major oil exploration project in the Bahamas since 1986.
And investment firm CQS Rig Finance Fund resumed trading on Aim after it published a portfolio update showing its estimated liabilities exceed estimated assets by around £3.45m. The firm recently managed to renegotiate its borrowing facility with Credit Suisse.