Hot Small Caps: Senior up on hopes for Boeing strike deal

LONDON (Reuters) - Following is a round-up of key small cap movers on the London stock market on Friday.

12:00 GMT - Senior jumps on hopes for Boeing strike deal

Shares in aerospace engineer Senior (SNR.L) rise as much as 38 percent amid mounting hopes a strike at Boeing (BA.N), one of its most important customers, will be resolved this weekend.

The dispute is costing Senior about 1.5 million pounds a month, says analyst James Tetley at Brewin Dolphin. The company's ability to weather it without earnings downgrade so far points to its strength, Tetley says, but it can only continue doing so until early November.

"We expect Boeing to resume production with all guns blazing," he says. "It bodes well (for Senior) for next year."

11:11 GMT - Petmin up as Numis repeats "Buy"

Shares in Petmin, (PETJ.L), the AIM listed minerals, mining and processing company, climb 4.7 percent as Numis repeats its "buy" recommendation, saying the company will benefit from weakness in the South African Rand and is immune to lower commodity prices.

The broker, which also keeps its 48 pence target price on the stock, says prices have been locked in for all Petmin's 2009 volumes and it is upgrading Petmin's Rand based earnings figures.

Furthermore, Numis says it expects the company's net cash position to increase during 2009 and 2010, believing it is well positioned to weather any downturn in commodity prices, while expecting earnings to remain robust.