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STOCKS NEWS EUROPE-AIM index advances, IQE outperforms

Reuters - UK Focus

Junior-listed AIM shares advance 0.1 percent against flat showings from both the FTSE Small Cap index and the midcaps, while the FTSE 100 index drops 0.3 percent.

Tech firm IQE (LSE: IQE.L - news) climbs more than 6 percent after saying it has delivered the industry's first six-inch Vertical Cavity Surface Emitting Laser (VCSEL) epiwafers that could be used in televisions, smartphones and tablet devices.

VCSELs are are an advanced form of laser.

"We believe the size of the VCSEL opportunity for IQE to be several million pounds of profit contribution per annum within the next three years and therefore this represents a material incremental profit stream," Peel Hunt says in a note.

Trading volume in the stock stands at around two thirds of its 90-day daily average, against the AIM index on around a third.

Reuters messaging rm://tricia.wright1.thomsonreuters.com@reuters.net