UK SMALLCAP ROUNDUP: Fullers Posts Record Earnings

11th Jun 2010 12:30

Dow Jones smallcap news is now on Twitter, allowing you to catch up on the news away from your desk. Go to http://twitter.com/DJ_UK_Smallcaps FULLER, SMITH & TURNER PLC (FSTA.LN), a pub and brewery group, Friday reported a record set of full-year figures in spite of the recession, and said while looming tax hikes could hit spending in its pubs this year it should get a boost from the continued investment in its businesses. At 1059 GMT, shares +55 pence or 10% at 600 pence. BRIT INSURANCE HOLDINGS NV (BRE.LN), an insurer and reinsurer, said late Thursday it had rejected a takeover offer from a private equity group, sending its shares sharply up. Observers said the proposal, though rejected, could herald the start of merger and acquisition activity in the U.K.'s non-life insurance sector. At 1059 GMT, shares +150.5 pence or 21% at 879.5 pence. ORIGO PARTNERS PLC (OPP.LN), a private equity firm, said it agreed to raise up to $30 million in a share sale to fund new investments in China and Mongolia. The money will be added to Origo's existing cash resources to give it a war chest of up to $50 million to plow into investments in sectors like renewable energy, agriculture and mining, in a bid to exploit China's rapid expansion and appetite for resources. At 1058 GMT, shares flat at 27 pence. QUEEN'S WALK INVESTMENT LTD. (QWIL.LN), the publicly-traded debt fund managed by London hedge fund group Cheyne Capital Management (UK) LLP, said it repaid its debt nine months ahead of schedule, freeing up more cash to invest in asset-backed securities. At 1058 GMT, shares +0.27 pence or 15% at 1.99 pence. BAOBAB RESOURCES PLC (BAO.LN), a precious metals explorer, reported promising results from scout drilling at the Tete iron, vanadium and titanium project in Mozambique. At 1058 GMT, shares +0.25 pence or 2.9% at 9 pence. NEWRIVER RETAIL LTD. (NRR.LN), a retail property group, said it will pay GBP4.2 million for two retail units in Newcastle-upon-Tyne that it will let to Bank Fashion and jeweler H. Samuel. At 1057 GMT, shares flat at 272 pence. DJ UK Smaller Cos +0.6% AIM +0.2% By Jason Douglas, Hannah Benjamin and Rachael Gormley, Dow Jones Newswires; +44 (0) 20 7842 9272; [email protected] (Vladimir Guevarra contributed to this article.) (END) Dow Jones Newswires June 11, 2010 07:30 ET (11:30 GMT)