The FTSE Small Cap index is down by 0.1 percent in early morning trade, slightly outperforming declines of 0.3 percent on the blue-chip FTSE 100 index and the mid-cap FTSE 250 index .
Power control components manufacturer XP Power falls 6.8 percent, as it reports lower revenues and bears the brunt of a downgrade by Investec, which cuts its price target on XP Power to 1,150 pence from 1,250 pence while keeping an overall "buy" rating on the stock.
Carclo , a technology-led plastics group, rises 4.8 percent after it delivers a relatively upbeat outlook, saying it expects further progress during the second half of the year.
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