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STOCKS NEWS EUROPE-UK small caps steady around midday

Thursday, 4 Oct 2012 | 7:01 AM ET

The FTSE Small Cap index is steady in midsession trade, lagging a 0.2 percent rise on the FTSE 100 and a 0.7 percent gain on the FTSE 250 .

Britain's Gulf Keystone Petroleum falls 5.3 percent after the explorer announces it is launching $200 million of convertible bonds to bolster its resources as it pushes to expand its oil exploration and development in Iraq's Kurdistan.

"The share price fall is in-line with the potential dilution," Mike van Dulken, head of research at Accendo Markets, says.

Interactive whiteboard maker Promethean World falls 26.3 percent after the company says it expects full-year results to be below current market expectations following certain constraints in its key education markets.

"We have a sell on the stock," Peel Hunt analyst Alex Jarvis, says, adding that visibility is very low and the company's sales line is going to stay under pressure for the foreseeable future.

Reuters messaging rm://david.brett.thomsonreuters.com@reuters.net

Keywords: MARKETS EUROPE STOCKSNEWS

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