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    STOCKS NEWS EUROPE-UK small caps up 0.2 pct, lag FTSE

    RELATED QUOTES

    SymbolPriceChange
    SULA.L3.51-0.11
    RXP.L4.000.12

    The FTSE Small Caps index gains 0.2 percent, lagging the mid-caps , up 0.6 percent, and the blue chips, up 0.7 percent.

    Sula Iron and Gold gains 6 percent after announcing it has started drilling at its only licence.

    "Drilling of the Banded Iron Formation (BIF) in Sula Iron and Gold's licence will allow the strike continuity, thickness and grade of mineralisation to be tested," analysts at Northland Capital say in a note.

    Roxi Petroleum gains 3.7 percent after announcing that early tests indicate oil is present at the Kazakhstan focussed oil firm's 806 Well at its flagship BNG asset.

    "As we have stated previously, we believe the three pronged production ramp up from Galaz, BNG and Munaily will provide Roxi with valuable cashflow and exceeds market expectations for 2013," analysts at WH Ireland say in a note.

    "Although much uncertainty has been created by the recent exit of the Korea National Oil Corporation from the BNG licence, we believe that this nadir has been overcome through the recent strategic investment by Mr Satylganov with a US$40m injection."

    Reuters messaging rm://alistair.smout.thomsonreuters.com@reuters.net