STOCKS NEWS EUROPE-UK small caps flat mid-session

Fri Mar 1, 2013 7:29am EST
 
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UK small caps are broadly flat in mid-session trade, while the mid-caps slip 0.1 percent, and the blue chips are 0.5 percent weaker.

Automotive retailer Vertu Motors advances nearly 7 percent after saying it expects its profit for the year to end-February to come in ahead of expectations.

Oil and gas explorer Ithaca Energy slides nearly 11 percent, hitting four-month lows, after it says it will buy Valiant Petroleum for 203 million pounds ($308.15 million) in cash and stock.

Valiant Petroleum jumps more than 28 percent.

Reuters messaging rm://tricia.wright1.thomsonreuters.com@reuters.net ($1 = 0.6588 British pounds)