Hot Small Caps: Wolfson up on new CEO appointment

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

Shares in Wolfson Microelectronics (WLF.L) rise 3.4 percent to 122.5 pence as the Scottish chipmaker says it has picked Motorola Inc's Mike Hickey to replace Chief Executive Dave Shrigley who is stepping down for personal reasons.

"Given Wolfson's share price performance over the past two years, this comes as no surprise and the fact that Hickey is joining immediately indicates that this move has been in the offing for a while," says Landsbanki analyst Dan Ridsdale, who earlier upgraded his recommendation on the company to "buy" from "hold" on the basis that the company will benefit from sterling's slide. "Nevertheless, we retain the view that Wolfson should benefit from the increased investment in product development, instigated under Shrigley."

10:10 a.m. 08 Sept2008-Glisten up on positive results, outlook

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Shares in Glisten (GLI.L) rise 4 percent to 263.5 pence after the snack maker posts an 18 percent increase in annual pretax profit following a strong second half performance and said it would focus on the healthy and premium sectors going forward.

"After flat organic sales in H1, Glisten did deliver the recovery promised with a stronger H2 contribution to give an 11 percent underlying uplift...Management does, however, expect organic growth to improve as the year progresses, with new listings gained," said Investec analyst Nicola Mallard in a research note.

8:45 a.m. 08 Sept2008-GW rises on cannabis drug result

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