Hot small caps: Rank rises on legal tax win

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

3:01 p.m. - Zenergy up on successful product test

Shares in Zenergy (ZEN.L) rise 6.2 percent after the successful completion of the AIM-listed specialist materials group's first commercial HTS Fault Current Limiter, a device that can automatically respond to electrical surges and prevent outages and damage to the national network. The company says the global market for FCLs could be worth up to $5.0 billion (3.2 billion pounds).

Stockbrokers Ambrian says this is positive news for the company as it seeks to commercialise its HTS technology-based products. "This announcement brings confidence to the market that the technology actually works and may help to expand the potential customer base," says the brokerage, which rates the shares a "buy."

2:45 p.m. - ReneSola up on Chinese growth prospects

Shares in AIM-listed ReneSola Ltd (SOLA.L) rise 11.3 percent after the Chinese-based manufacturer of solar wafers is recognised as the fourth fastest-growing Chinese technology company in the 'Deloitte Technology Fast 50 China 2008' programme. The report evaluates leading Chinese companies in the TMT sector based on their average revenue growth rates over the past three years.

Stockbrokers Ambrian says the announcement recognises the strong position ReneSola has in the Chinese solar market as a growth stock. "The company enhanced this position last week when it announced that it had extended its credit lines and increased it guidance targets," the broker says. It reiterates its "buy" recommendation for the stock.

2:08 p.m. - Just Retirement extends gains on bid hopes

Shares in Just Retirement JR.L extend their earlier rise to trade 50.5 percent higher at 73 pence -- the best performing stock in the market -- after the company confirms it has received preliminary expressions of interest for the business. A report in The Sunday Times said 52 percent shareholder Langholm Capital LLP has put the business up for sale at a suggested price of 300 million pounds, or 102 pence a share.