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STOCKS NEWS EUROPE-UK small caps steady, lagging broader market

Reuters - UK Focus

The FTSE Small Cap index closes flat, lagging both junior-listed AIM shares and the mid-caps, which post respective gains of 0.2 percent and 0.3 percent.

LondonMetric Property closes 1 percent higher after announcing it will acquire the Royal Mail Distribution Centre in Daventry and dispose of Congleton Retail Park.

"In three announcements over five days, LondonMetric (LSE: LMP.L - news) has successfully recycled out of 92 million pounds ($150.5 million) in lower-yielding (5.9 percent) assets into 89 million pounds of higher-yielding retail parks and industrials at an average 8.8 percent yield," Kate Renn, analyst at Peel Hunt, says in a note.

Serica Energy (Toronto: SQZ.TO - news) falls 16.3 percent after announcing that a well it has been working on in Morocco, alongside Cairn Energy and San Leon, failed to find any oil or gas, after drilling down over 5,000 metres.

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

rm://shadi.bushra.thomsonreuters.com@reuters.net ($1 = 0.6114 British pounds)