Small cap newsbeat

By THIS IS MONEY
Updated:

 

Today's roundup of action among some of the smaller companies quoted in London.

Technology stocks grabbed the spotlight on Wednesday as profit-taking hit hard in a sector which had stormed to record highs as recently as Tuesday.

Electronic Data Processing led the sector down, falling 15.4% or 51- 1/2 pence to 283- 1/2p by 1524, having touched 260p earlier. The stock jumped to record 443p in late December, up more than four times from levels two months before.

Geo Interactive fell 13.7% or 232- 1/2 pence to £14.70 by 1531, after hitting a £13.20 low. The stock hit a £19.30 peak on Tuesday, having traded around 150p in early November and at around 20p early last year.

In the junior AIM market, leading technology casualties included silicon wafer maker BCO Tech, prospective Internet bank e-primeFinancial and Internet directories company threeW.Net, all of which lost 15% or more.

Among the day's top gainers, telephone services company IMS Group was up 11% after the company said it planned to demerge its Teamtalk.com website business and list it separately. Teamtalk provides soccer, rugby, cricket and horse racing content via the Internet, satellite, mobile and premium-rate telephone networks. IMS said it was one of the most visited web-sites in the UK.

And Oakhill Group doubled in value, rising 20 pence to 40- 1/2p after entrepreneur Pierce Casey revealed that he bought 5.45% of the company.

©Reuter

Most watched Money videos