The FTSE Small Caps Index is down by 0.1 percent in early session trading, slightly outperforming a bigger 0.2 percent fall on the blue-chip FTSE 100 index and a 0.4 percent fall on the mid-cap FTSE 250 (FTSE: ^FTMC - news) index.
New World Oil & Gas Plc falls 28.1 percent after having to abandon its Rio Bravo well after disappointing results from the project.
Technology products and consultancy group Imaginatik drops by 42 percent after announcing a share placement to raise 1.3 million pounds ($2.01 million)to finance new business developments.
Avon Rubber, a company which designs and manufactures equipment for military, police and emergency services teams, gains 3.8 percent as investors welcome its acquisition of rival VR Technology, while Investec (LSE: INVP.L - news) raises its rating on the stock to "add" from "hold".
($1 = 0.6477 British pounds)
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