STOCKS NEWS EUROPE-UK small caps gain 0.3 pct early

The FTSE Small Cap index .FTSC gains 0.3 percent in morning trade, underperforming both the blue chips .FTSE and the midcaps .FTMC, which add 0.7 percent and 1.4 percent, respectively.

Industrial engineer Delta (DLTA.L) rises 4.8 percent after saying its first-half trading profit grew more than it expected due to resilient market conditions, and that it sees strong second-half trading, but below first-half levels.

Renold (RNO.L) drops over 5 percent after the industrial chainmaker says the fall in orders seen since the third quarter of its financial year continued, as it reports a 69 percent fall in pretax profit.

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