UK smallcaps
Stocks on the move

10:33GMT 29Oct2008-Ferrexpo dives as CEO quits, sales hit

Shares in Ferrexpo plunge over 20 percent after the company announces the resignation of its chief executive and warns that full year sales will be between 5 and 10 percent lower than it had been expecting.
"The major bad news is the CEO resigning but the trading update isn't good either," said an analyst at a major bank who asked not to be named. "I think it's very disappointing that he steps down at this time."
The company said in a trading update that it expected a reduction in orders for its iron ore pellets to lead to a sales shortfall.
For more information click and

Reuters Messaging rm://ben.deighton.reuters.com@reuters.net
09:51GMT 29Oct2008-Worldspreads up on H1 figs; Broker says "buy"

Shares in spreadbetting firm Worldspreads rise 6.8 percent as it says first-half profits doubled, adding it is confident of exceeding full-year targets, prompting Collins Stewart to repeat a "buy" stance and 125 pence target price for the stock.

Collins Stewart says Worldspreads' interim results are ahead of expectations and are benefitting from its expanding product suite and increased market volatility which is driving customer volumes.
In reaction, the broker raises its revenue and pretax profit forecasts for 2009 by 25.7 percent and 28 percent, respectively. Collins Stewart says Worldspreads' trades at a discount to peer London Capital Group, which Daniel Stewart maintained as a "buy" on Tuesday.
For more double click on

Reuters Messaging rm://david.brett.reuters.com@reuters.net
09:12GMT 29Oct2008-888 up as Daniel Stewart repeats "buy" stance

Shares in 888 Holdings, the online gaming company, rise 6 percent after Daniel Stewart repeats its "buy" recommendation and target price of 136 pence on valuation grounds.
Daniel Stewart says 888 shares, which have fallen 52 percent since August, have reacted to a weaker outlook and now trade at just 7.0 times estimated 2009 earnings per share.
However, the broker, which has downgraded 888's forecasts for 2008 and 2009, says the company has a resilient operating model and net cash of around 17 pence per share. Daniel Stewart adds that 888's casino-led operation is seeing adequate active customers wagering, but at lower than expected yields.

Reuters Messaging rm://david.brett.reuters.com@reuters.net
08:50GMT 29Oct2008-FTSE Small Cap Index up 1.3 pct early

The FTSE Small Cap Index rises 1.3 percent in early trade, as UK markets rise after a massive rally on Wall Street overnight. The large cap FTSE is up 4.8 percent.
Managed Support Services soars 41 percent after the company says first-half trading has been good and it expects full year results to comfortably exceed market expectations.

Reuters Messaging rm://david.brett.reuters.com@reuters.net
08:10GMT 29Oct2008-African Eagle up on Zambia project progress

----------------------------------------------------------------------------
Shares in African Eagle rise 4.8 percent after the minerals exploration and development company's joint venture partner on the Mkushi copper project in Zambia says the feasibility study on the project will be complete by the end of the month, with production on track to start by mid-2010.
"Many important milestones have been passed in the last year as part of the study work (on Mkushi), perhaps the most important being the granting of a full mining licence for the project...further approvals will complete all the environmental approvals for the project to commence," says Seymour Pierce analyst Asa Bridle in a note.
For company statement, click on
rhys.jones@reuters.com

06:46GMT 29Oct2008-Corporate agenda for Wednesday

paul.sandle@reuters.com

Keywords: MARKETS STOCKSNEWS UK SMALL tf.TFN-Europe_newsdesk@thomson.com vjt

COPYRIGHT

Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.