The FTSE Small Caps Index is down by 0.2 percent in mid-session trade, outperforming bigger declines of 0.6 percent on the blue-chip FTSE 100 (FTSE: ^FTSE - news) index and 0.5 percent on the mid-cap FTSE 250 (FTSE: ^FTMC - news) index.
Hotels company Snoozebox slumps by 10.3 percent after reporting an annual loss of 4.4 million pounds ($6.79 million) and that Robert Breare has stepped down from his post as chief executive.
Brokerage Panmure Gordon keeps a "buy" rating on the stock, arguing that the company's 2013 prospects are more encouraging, but adds that its estimated forecast that Snoozebox will make a 2.9 million pounds pre-tax profit for 2013 faces "considerable uncertainty."
New World Oil & Gas Plc also drops by 38.6 percent after having to abandon its Rio Bravo well after disappointing results from the project.
"The company estimates the contract to be worth £15 million over the next 24 months and it has already commenced the installation of several thousand lines," Coms writes in a statement.
($1 = 0.6477 British pounds)
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