The FTSE Small Cap index adds 0.1 percent in midday trade, with the FTSE 100 index ahead 0.3 percent, while the midcaps fall 0.2 percent.
Tethys Petroleum jumps 8 percent as Seymour Pierce initiates coverage of the Central Asia-focused oil & gas explorer and producer with a “buy” rating and a 72 pence target price.
“This highly prolific region continues to yield significant rewards, most recently illustrated through the company’s upgrade in Tajikistan. With near term production also due to ramp up in Kazakhstan, we feel the current share price represents compelling value for investors,” Seymour Pierce says in a note.
Hogg Robinson Group sheds 6.3 percent as the international corporate services company says trading conditions remain challenging, with a 12 percent decline in revenue versus the prior year in the three months to the end of June, somewhat below management’s expectations. [ID: nPRrPD49Ea]
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