Hot Small Caps: Wilmington lower as cautious outlook prompts dow

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

2:45 p.m. - Wilmington lower as cautious outlook prompts downgrade

Shares in Wilmington (WIL.L) dip 4.1 percent to 139 pence as the education and training firm says that while trading for the first quarter of 2008/09 is in line with expectations, conditions remain challenging with discretionary expenditure from clients under pressure.

As a result, Altium Securities is revising its full year financial forecasts and has reduced its target price for the stock from 200 to 171 pence. It now looks for pretax profits of 17.1 million pounds for the year to end-June 2009, compared to 19.0 million previously, while for the following year it has reduced its estimate to 17.9 million, from 20.6 million.

However, it reiterated its "buy" recommendation for the stock citing the group's robust financial characteristics and medium-term prospects.

1:10 p.m. - ReGen up on Colostrinin talk

ReGen Therapeutics (RGNT.L) rises 25 percent amid talk the company may be announcing a development plan for its Colostrinin product.

Edison analyst Robin Davison said there was a renewed buying interest in the shares as the company is likely to announce a plan shortly that will demonstrate its ability to drive Colostrinin sales.

ReGen Chief executive Percy Lomax told Reuters the company was progressing deals in India and Turkey, and that it had decided to take its main product Colostrinin forward itself rather than using licensing agents.