Beyond the Footsie: Thursday close

12 April 2012

SHARES in smaller companies ended a quiet session broadly flat and underperforming the wider market's weak rally. The FTSE SmallCap index closed up 1.6 points at 2,238.80.

Symphony Plastic Technologies was up 6p to 32 1/2p after news it has won its first major contract, with supermarket chain Super Centre, to use the group's fully biodegradable plastic bags.

Symphony also announced a joint venture with Loramark Marketing, its distributor in Barbados.

US-based oil and gas explorer Sefton Resources added 0.13p to 0.75p on news that it plans to raise £375,000 through a placing of 75 million new shares. Three Sefton directors have subscribed to pick up around half the placement themselves.

Fellow oil minnow Northern Petroleum was up 1/4p at 2 3/4p after news it has sold its Irish unit to Ramco Energy for £2m in cash and Ramco shares. The firm said it will retain the Ramco shares until first gas is produced from the Seven Heads field.

Cumbria-based agriculture and engineering group Carr's Milling Industries jumped 20p to 173 1/2p after saying it expects results for the year ending August to be ahead of current market forecasts. Agricultural machinery sales have been particularly buoyant.

Confident outlook comments also benefited Easynet, up 9p to 80p. The internet provider told investors at a presentation that current trading is in line with expectations.

Easynet's statement benefited internet peer Affinity, which rose 15 1/2p to 84p.

Bikenet added 1/2 to 4 1/2p on news that turnaround investment vehicle Resurge has taken an 11.7% stake as an investment holding. BikeNet said earlier this year it is actively seeking a candidate for a reverse takeover.

Shares in Online Travel shed 3 1/4p to 30 1/2p after it said offer talks with a third party have been terminated.

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